Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1915-12-03

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City Treasury special fund to be
known as Olympia Waterworks Bond
and Bond Interest Fund" and bonds in
the sum Of one hundred ten thou
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 (696) per an
mum. payable semi-annually. and shall
mature serially in the order of their
numbers lowest numbers first, approx
imately as follows:
| 100000 on January /, 1918, to Janu-
airy /, 1919, inclusive.
| $4,000. 90 on January l. 1920, to Janu-
airy l, 1922, inclusive.
100000 on January 1, 1923. to Janu-
airy I, 1925, inclusive.
| 100000 on January l. 1926, to Janu-
airy l, 1929, inclusive.
100000 on January l. 1880. to Janu-
AIRY 1. 1881, inclusive.
| 100000 on January !, 1882, to Janu-
airy l, 1894 inclusive.
| $12,OOO.00 on January /, 1885.
| II 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
purchaser.
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
pay into said special fund from the
gross revenues Of said plant certain
fxed amounts on certain fixed dates, as
follows, towit:
On or before the last day Of each and
every calendar month, beginning with
the month in which such bonds are
the annual interest on all Of said bonds
outstanding and unpaid; and said city,
to secure and provide for the payment
OF the principal Of said bonds. hereby
obligates and binds itself to set aside
and pay into said special fund from the
gross revenues of said plant certain
fixed amounts on certain fixed dates as
! the twelfth calendar month after the
date of said bonds, and on or before the
last day OF each and every calendar
month thereafter SO long as any Of said
an amount equal to one-twelfth Of the
principal amount of said bonds next
maturing; and It is hereby declared that
creating said special fund and in bind
ing and obligating said city to set aside
and pay into said fund certain fixed
AMOUNTS at certain fixed dates as afore-
cost OF operation and maintenance of
said plant, have found that no part or
proportion of the revenues Of said plant
for any other indebtedness. and have
not hereby obligated and bound said
city TO set aside into said special fund
profits OF said plant than in their 1udg-
ment will be available over and above
such cost OF maintenance and operation.
Sec, 4. That special election be held
on Tuesday December 18th, 1915. in
nj Ia IA -
ton wards and precincts into which said
wards of said city are divided, at which
election there shall be submitted to the
on or tSs 9or rata
forth in section 1 Of this ordinance.
Notice of said election shall be pub
lished in the city ofhcial newspaper and
scribed by law.
Every voter at said election desiring
to vote in favor OF said proposition shall
vote q ballot containing the followine
statement thereof:
ana tes x: III. q q Iss sDss
for aca gut by condemnation or pur-
ana without tie corporate limits for the
Inhabitants thereof and any other per.
sons. with an ample supply of water for
al uses and purposes, public and pri-
power derived thsrsfrco S 1t .a an O :sti.
dol!ars <slio.oeo.eol. and the issuance
Iceeding said estimated cost. bearing IL.
terest at . rate not exceeding six per
cent lS%) per annum. payable semi.
H ann maturing ssrially. commene.
payable At the ONO: Of the city Treas:
|Ner YORK ciiy q tie option Of tSs S pu i.
fon RsS Hs,c Sn'y fu SSf q oss : ~,
binds and obliFates itself to set aside
and pay from the gross revenues Of said
plant certain axsd amounts q certain
cipal and interest OF said bonds q the
ali a. set forth in ordinance No. 1887
Ing the proportion eontainsd 'i In and
submitted by Ordinance No. 1884, 90 far
z: the same j. consistent with said Or
S Sns nee. No: 1872 End the contemplation
Every voter at said election who de.
sires to vote. against said proposition
shall vote Z ballot containing the fol-
lowing statement thereof:
| AGAINST the system or plan specified
acquiring by condemnation or purchase
without its corporate limits for the pur-
Of .sia city and the in
with an ample supply Of water for all
uses and purposes, public and private.
including water power and other power
derived therefroT, At an estimated cost
OF one hudnred ten thousand dollars
3l1O.0o0.0o), and the issuance and sale
OF bonds in an amount not exceeding
said estimated cost, bearing interest az
rate not exceeding six per cent (6cs)
PEI. annum, payable semi. annually. ma
turing seriaily. commencing January I.
once Of the City rressu nsyao or s f fns
state Fiscal Agency in New York City
at the option Of the purchaser. and pay
able only out OF q special fund. Into
| which fund said city binds and obli-
gates itself to set aside and pay from
the gross revenues of said plant certain
fixed amounts at certain fixed dates, suf-
fcient to pay the principal and inter-
est OF said bonds as the same mature
and become payable; all as set forth in
Ordinance No. 1897 Of said city; and
ratifyfng and confirming the PROPOSE
ton contained in and submitted BY or.
dinance NO. 1888. SO far as the same is
consistent with said Ordinance No. 1927.
and the condemnation had under said
Ordinance No. 1888.
Sec. s. In the event said waterworks
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