HomeMy WebLinkAbout1960-170 ORDINANCE NO. 170
AN ORDINANCE of the City Council of the City of Yakima,
Washington, providing for the submission to the
qualified electors of the city at a special election
to be held therein on November 8, 1960, of a proposition
of whether or not the city should issue its unlimited
tax levy general obligation bonds in the principal sum
of $70,000, for the purpose of providing funds to acquire
and install traffic signals with necessary accessories
at certain street intersections within the city, and
declaring an emergency.
WHEREAS, it is deemed necessary and advisable and to the
best interests of the City of Yakima and its residents that the
city acquire traffic signals, conduits, cables and other necessary
accessories and that it install such signals at those street
intersections within the city deemed most necessary by the
City Council for the proper regulation and control of vehicular
and pedestrian traffic, and in order to provide the money for
said purposes that it issue and sell its unlimited tax levy
• general obligation bonds in the principal sum of $70,000; and
WHEREAS, the Constitution and laws of the State of Washington
provide that the question of whether or not such bonds may be
issued for such purposes must be submitted to the qualified
electors of the city for their ratification or rejection;
NOW, THEREFORE, BE IT ORDAINED by the City of Yakima:
Section 1. It is hereby found and declared that the public
property, welfare and safety of the people of the City of Yakima
require the city to acquire traffic signals, conduits, cables
and other necessary accessories and install such signals at
those street intersections within the city deemed most necessary
by the City Council for the proper regulation and control of
vehicular and pedestrian traffic, all as more specifically set
forth in plans prepared by the Traffic Engineer of the city and
now on file in his office.
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Section 2. That for the purpose of providing the money
necessary to acquire, construct, install and make such capital
improvements, the city shall issue and sell its unlimited tax
levy general obligation bonds in the principal sum of $70,000.
Said bonds shall bear interest at a rate of not to exceed
6% per annum payable semiannually, and shall mature in from two
to ten years from date of issue in such amounts as will, as
nearly as practicable, together with the interest thereon, be
met by equal annual tax levies for the payment of the principal
thereof and interest thereon. Both such principal and interest
shall be paid out of annual levies of taxes to be made upon all
the taxable property within the city without limitation as to
rate or amount. The exact date, folm, teim and maturities of
said bonds shall be as hereafter fixed by ordinance of the city.
Section 3. It is hereby found and declared that an emergency
exists requiring the submission to the qualified electors of the
city of the proposition of whether or not the city should issue
and sell said bonds for such purposes at a special election to
be held therein on November 8, 1960, in conjunction with the
county and state general election to be held on the same date.
The Yakima County Auditor, as ex officio supervisor of
said county and state general election, is hereby requested to
call and conduct said special election on said date and to submit
to the qualified electors of the city the proposition hereinafter
set forth. The City Clerk is hereby authorized and directed to
certify to the Yakima County Auditor said proposition in the
following form:
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PROPOSITION NO. 7
Traffic Signal Improvement Bonds, $70,000
Shall the City of Yakima, to provide funds to
411 acquire and install traffic signals and accessories
at those intersections where most necessary for
proper traffic control, issue general obligation
bonds in the amount of $70,000, said bonds to bear
•
interest at a rate of not to exceed 6%, to mature •
in from two to ten years from date, and to be paid,
both principal and interest, out of annual tax levies to be
made without limitation as to rate or amount, all as more
fully provided in Ordinance No. 170 of the City?
BONDS, YES • • • • • • • LI'
BONDS, NO . . . . . . .
Section 4. For the reason that the statutes of the State
of Washington require that this ordinance become effective and
be certified to the Yakima County Auditor as soon as possible
in order to permit said Auditor to call and conduct. the special
election authorized herein, an emergency is hereby declared to
exist, that this ordinance is necessary for the immediate pre-
411 servation of the public peace, property, health and safety of
the citizens of Yakima, and the same shall be in full force
and effect immediately upon its passage, authentication and
publication as required by law.
ADOPTED BY THE CITY COUNCIL of the City of Yakima, Washington,
by unanimous vote and APPROVED BY THE MAYOR at a regular meeting
thereof held this 5th day of October, 1960.
CITY OF YAKIMA, WASHINGTON
By
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ATTEST:
• // y Clerk
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