Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1915-12-10


hitting the Same to the Qualified
Voters of Said City for Ratification or
Rejection at Special Election to Be
Held in said City on December 18th.
The City Council of the city of Olympia
do ordain as follows:
Section /. That the City of Olympia
hereby specifies and adopts the follow
ing system or plan for the acquisition
by said city of the (a) waterworks
plant within and without its corporate
said city and the Inhabitants thereof
and any other persons with an ample
supply of water for all uses and pur-
poses poses pupa,c "a. ana private, rnG drirgg
therefrom. and hereby declares the esti-
mated cost thereof, as near as may be,
to be one hundred ten thousand dollars
(sl1o00000). towit:
That the City of Olympia acquire by
condemnation or. purchase the whole,
entire and complete waterworks plant
which now supplies said city, the in
habitants thereof. and other persons
living adjacent thereto, with water, in
Guiding all the property. real personal
privileges of any and every nature
whatsoever. constituting OF being al
part OF such plant or appurtenant
operated by the Washington Public
Service Company, a corporation.
Sec. 2. For the purpose Of defraying
the cost of acquiring said waterworks
plant there is hereby created in the
known as Olympia Waterworks Bond
and Bond Interest Fund" and bonds in
sand dollars (si1o,ooo.oOj, or so much
so much thereof as may be necessary to
acquire, said plant, shall be Issued and
sold, which said bonds and the interest
thereon shall be payable only out of
said special fund; shall bear interest
not exceeding six per cent (69e) per an.
num- payable semi-annually, and shall
mature serially in the order of their
numbers, lowest numbers first, approx
imately as follows:
100000 on January l, 1918, to Janu-
airy !, 1919 inclusive.
100000 on January /, 1920, to Janu-
airy l, 1922, inclusive.
100000 on January /, 1928, to Jarll
airy I. 1925 inclusive
100000 on January 1, 1926, to Janu-
airy l, 1929, inclusive.
100000 on January /, 1880, to Janu-
airy l, 1881, inclusive.
100000 on January l, 1882, to Janu-
|ary l, 1884. inclusive.
$4,000. 90 on January l, 1885,
If the proposition submitted by this
ordinance be ratified at said election the
Council shall provide for the form and
details of such bonds and shall sell the
same In such manner as they deem for
the best interests of said city; said
and interest. at the Office of the City
Treasurer or at the State Fiscal Agency
In New York City, at the option of the
Sec. g. The City Of Olympia. to Sc
cure and provide for the payment Of
the interest on said bonds hereby obli-
gates and binds itself to set aside and
gross revenues of said plant certain
fixed amounts on certain fixed dates, as
follows, towit:
On or before the last day of each and
every calendar month. beginning with
| issued. sum equal to one-twelfth Of
the annual interest on all OF said bonds
outstanding and unpaid; and said city,
of the principal of said bonds. hereby
obligates and binds itself to set aside
and pay into said special fund from the
sres Of SAID plant certain
follows: On or before the last day Of
the twelfth calendar month after the
date Of said bonds. and on or before the
month thereafter so long as any Of said
| bonds remain outstanding and unpaid,
an amount equal to One-twelfth of the
maturing; and il is hereby declared that
said city and its common council, In
creating said special fund and In bind
Ing and obligating said city to set aside
| amounts at certain hxed dates as afore-
said, have exercised due regard to the
cost Of operation and maintenance Of
d aays NE aa al. GaD
has been previously pledged as a fund
for any other indebtedness. and have
not hereby obligated and bound said
greater amount OF the revenues and
lprofits Of said plant than in their judy
ment will be available over and above
Sec. I. That special election be held
the city Of Olympia. in the several elec C.
ton wards and precincts into which said
election there shall be submitted to the
qualified voters of said city for ratifica-
ton or rejection the proposition set
Notice of said election shall be pub
| lished in the city Official newspaper and
posted: all in the form and manner pre-
| scribed by law.
| Every voter at said election desiring
to vote in favor Of said proposition shall
vote ballot containing the following
statement thereof:
fed and adopted by the City OF Olympia
for acquiring by condemnation or pur
chase the (al waterworks plant within
purpose OF furnishing said city and this
| Inhabitants thereof and any other per.
sons. with an ample supply OF water for
all uses and purposes, public and pr.
power derived therefrom. at an esti.
mated cost of one hundred ten thousand
dollars N110,000.00). and the issuance
and sale Of bonds in an. amount not ex.
ceeding said estimated cost, bearing in.
| terest at a rate not exceeding six pei
cent $50 per annum. payable semi
annually, maturing serially. commenc.
ing January 1, 1918, to January /. 1895
payable at the ONCE Of the City Treas.
| urer or at the State Fiscal Agency in
New York City at the option OF the pur-
chaser. and payable only out of a spe.
cial fund into which fund said city
binds and obligates itself to set aside
and pay from the gross revenues II said
plant certain fixed amounts at certain
fixed dates. SUFFICIENT to pay the prin-
cipal and interest Of said bonds as the
same mature. and become payable;
all as set forth in Ordinance No. 1927
OF said city; and ratifying and confirm
Ing the proposition contained in and
submitted by Ordinance No. 1888, so far
as the same is consistent with said Or
dinance No. 1927, and the condemnation
had under said Ordinance No. 1888
Every voter at said election who de-
| sires to vote against said proposition
shall vote ballot containing the fol-
lowing statement thereof:
AGAINST the system or plan specified
and adopted by the City of Olympia for
I r<nsxx .i~.t.