The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1939-1949, 1949-09-16
ORDINANCE NO. s5S

AN ORDINANCE of the City of Kennewick,
Washington, providing for the issuance
and sale of general obligation bonds of
the city in the sum of S150,O00 to pro-
vide funds to pay part of the cost of
acquiring the water supply and distri-
button systems of Pacific Power & Light
Company, a private corporation, and
Kennewick Irrigation District, NUM-
cipal corporation. now producing and
distributing water throughout the city
and vicinity. and for constructing and
installing certain additions and i'm
provements to said water systems. ali
as more specifically provided by Ordi1-
ance No. $50 passed and approved July
10, 1949, and as authorized by the
electors of the city at special election
held therein on August %, 1949, provId-
ing the date, form, terms and MATURE
ties of said bonds and for annual tax
levies without limitation as to rate or
amount to pay the principal and interest
thereof, creating a fund for their pay
>ment. and declaring an emergency:
WHEREAS, the City Of Kennewick, Wash
ington, by Ordinance No. $50 passed and
approved July 10, 1949. provided that a
special election should be held within the
city on August %. 1919, for the submits
sion to the qualified electors thereof OF
proposition of whether or not the city
should acquire all of the properties of
Pacific Power & Light Company, private
corporation, and Kennewick Irrigation
District, a municipal corporation, used in
connection with their water systems pro-
ducing and distributing water throughout
the city and vicinity and construct and in
stall certain additions and improvements
thereto so as to furnish the city. its
and people residing In the
vicinity thereof with q complete water
supply and distribution system and, to
provide necessary funds therefor, should
issue its general obligation bonds in the
NJ E1S0 mn and ifg wafer
revenue bonds in the principal sum OF
not to exceed $1,000, 600; and
WHEREAS, at said election the number
and proportion of the qualified electors
of the city required by law voted In favor
of said proposition; and
WHEREAS, it is deemed necessary and
to the best interest of the city and its
that said general obligation
bonds be now issued and sold to provide
part of the funds necessary for the above
mentioned purposes;
NOW, THEREFORE, BE IT ORDAINED
by the Council of the City of Kennewick,
as follows: ....
Section I. That for the purpose of pro.
viding funds to pay part Of the cost OF
out the plan and system for ac-
curing and constructing complete water
supply and distribution system for the
city as provided in Ordinance No. 800,
passed and approved July 10, 1949. the
city shall now issue and sell its general
obligation bonds in the principal sum OF
$50 900 as authorized by the qualified
electors thereof at an election held there
in on August %. 1919, and as provided
In said ordinance.
Said bonds shall be dated November I,
1949, shall be in denominations Of $1,000
each, shall be numbered from 1 to 100
inclusive, and shall bear interest at the
rate of not to exceed so per annum
payable semiannually on the first days of
May and November of each year., as
evidenced by coupons to be attached to
said bonds. Both principal and interest OF
said bonds shall be payable in lawful
money of the United States of America at
The office of the City Treasurer in Kenne-
wick, washington, and said bonds shall
mature in order OF their number as
follows: s-.T~. .@zs 49, -