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HomeMy WebLinkAbout1962-377 ORDINANCE NO. ...477 ___ AN ORDINANCE of the City Council of the City of Yakima, Washington, providing for the submission of a proposition to the qualified electors of the city at a special election to be held therein on November 6, 1962, of whether or not the city shall issue and sell its general obligation bonds • in the principal sum of $2,600,000 for the pur- pose of providing funds to construct, install and make certain capital improvements to streets and avenues throughout 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 construct, install and make certain necessary capital improvements to the streets and avenues throughout the city; and WHEREAS, in order to provide the money for said purposes it is deemed necessary and advisable that the city issue and sell its unlimited tax levy general obligation bonds in the principal sum of $2,600,000; and WHEREAS, the Constitution and laws of the State of Washing- Ask - ton require that the question of whether or not the city may issue and sell such bonds for said 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 welfare and safety of the people of the City of Yakima require the city to construct, install and make the following capital improve- ments to streets and avenues in the city: A. Level, grade, ballast, seal-coat and overlay streets and avenue the city wherever found to be necessary. B. Widen, grade, pave, and install curbings, sidewalks and storm drainage facilities where necessary in order to make the following streets or avenues 4-lane arterial streets and avenues: All 1. Tieton Drive-Division Street-West Maple Street, from South Grandview Avenue to Fifth Avenue South. 2. Summitview Avenue from Crescent Drive to Yakima Avenue and 7th Avenue North. 3. Lincoln Avenue from North Grandview Avenue to 2 Avenue North and from 16th Avenue North to 6th Avenue North. -1- C. Construct a 4-lane vehicular and pedestrian railroad overpass on Lenox Avenue, together with a 4-lane paved approach extending from South 6th Street to Broadway Avenue on Lenox Avenue; acquire necessary rights-of-way therefor, and acquire and install traffic signals at the intersection of South 1st 4Ik Street and Lenox Avenue. D. Improve the streets in the following areas by the con- struction and installation of storm sewers and storm drainage facilities where necessary; 1. The area bounded on the west by 10th Avenue, on the north by West Chestnut Street, on the east by Landon Avenue and on the south by Mead Avenue. 2. The area bounded on the west by 42nd Avenue, on the north by West Chestnut Street, on the east by 34th Avenue and on the south by Wide Hollow Creek. 3. The area between Richey Road at 40th Avenue, and Douglas Drive at 42nd Avenue. All of the above described improvements are more specifi- cally set forth in maps and plans prepared by the City Engineer and 411 now on file in his office. Section 2. For the purpose of providing the money neces- sary to pay the cost of constructing, installing and making the above described capital improvements, the city shall issue and sell its general obligation bonds in the principal sum of $2,600,000. Said bonds shall bear interest at a rate of not to exceed 6% per annum payable semiannually, and shall mature serially in from 2 to years from date of issue. Both principal of and interest on such bonds shall be payable out of annual tax levies to be made upon all taxable property within the city without limitation as to rate or amount. The exact date, form, term 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 emer- gency exists requiring the submission to the qualified electors of the city of the proposition of whether or not the city should issue such general obligation-bonds, for their ratification or rejection, at a special election to be held within the city on November 6,. 1962 in conjunction with the State general election to be held on the same date. -2- - • The Yakima County Auditor, as ex officio supervisor of elections held at the same time as the State general election, is hereby requested to assume jurisdiction of and to call and conduct said special election to be held within the city on said date and to submit to the qualified electors of the city at such special election li the proposition hereinafter set forth. The Clerk of the city is hereby authorized and directed to certify said proposition to the Yakima County Auditor in the fol- lowing form: PROPOSITION NO. 1 Street Improvement Bonds, $2,600,000 Shall the City of Yakima, to provide funds to level, grade, ballast, seal-coat and overlay streets and avenues throughout the city where necessary, widen, grade, pave and improve certain streets and avenues as 4-lane arterial streets and avenues, construct a 4-lane vehicular and pedestrian railroad overpass on Lenox Avenue, and im- prove streets in certain areas by constructing and installing storm drainage facilities, issue its general obligation bonds in the .principal sum of $2,600,000, such bonds to bear interest at a rate of not to exceed 6% per annum, to mature in from 2 to 20 years from date of issue and to be paid both principal and interest out of annual tax levies to be made Nkrithout limitation as to rate or amount, all as more fully provided in Ordinance No. .577 of the city. BONDS, YES . • • . • • • a BONDS, ITO . • . . . . z:7 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. This ordinance is hereby found necessary for the immediate preservation of • the public welfare and safety of the citizens of the city, and the same shall be in full force and effect immediately upon its adoption, approval, authentication and publication as required by law. * ADOPTED BY THE CITY COUNCIL of the City of Yakima, Washing- -- ton, by unanimous vote and APPROVED BY THE MAYOR at a regular meeting of said Council held this 10th day of September, 1962. CITY OF YAKIMA, WASHINGTe BY I - ATTEST: a.yor • C y er -3-