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HomeMy WebLinkAbout1966-822 r ; LJ ORDINANCE NO. ?,7/ AN ORDINANCE providing for the submission to the qualified electors of the City of Yakima at a special election to be held therein on September 20, 1966 of a proposition of whether or not the city should issue its unlimited tax levy general obligation bonds in the principal amount of $698,000 for the purpose of providing part or all of the funds to pay the cost of acquiring, constructing and equipping certain capital improvements to the facilities of the municipal airport of the city, and declaring an emergency. WHEREAS, it is deemed necessary and advisable that the City of Yakima, Washington (hereinafter called the "City "), acquire, construct and install certain capital improvements to the municipal airport of the - City and, in order to provide part or all of the funds necessary therefor, that the City issue and sell its unlimited tax levy general obligation bonds in the principal amount of $698,000; and WHEREAS, the Constitution and laws of the State of Washington provide that the question of whether or not such bonds may be issued and • sold for such purposes must be submitted to the qualified electors of the City for their ratification or rejection; and WHEREAS, it is further deemed necessary and advisable that said proposition be submitted to such qualified electors at a special election to be held at the time of the county and state primary election on September 20, 1966; NOW, THEREFORE, BE IT ORDAINED by the. City of Yakima: Section 1. It is hereby found that the welfare, safety and convenience of the people living within the City require it to carry out the plans hereinafter provided. Section 2. For the purpose of increasing the size of and im- proving the facilities at the municipal airport of the City, the City shall acquire approximately 4107 acres of land extending northwesterly III for a clear zone beyond Runway 9 - /and shall acquire land for the relocation of Washington Avenue and Sorenson Road; shall extend and strengthen Runway 9 -27 and . , install new high intensity runway lighting facilities for said runway; shall extend and strengthen Taxiway 9-27 and install medium intensity taxiway lighting facilities for said taxiway; shall extend, recon- struct and strengthen the terminal apron; shall relocate and construct 410 Washington Avenue and Sorenson Road where necessary; shall relocate the navigation aid cable; shall extend and reconstruct the existing drainage system; shall extend and relocate the perimeter fencing; shall install a seal coat on Runways 16-34 and 4-22; shall acquire, construct and install necessary capital improvements to the administration building; and shall acquire, construct and install such other capital improvements as may be found to be necessary. For the purpose of providing part or all of the funds necessary to acquire, construct and install the above-described capital improve- ments to the facilities of its municipal airport, the City shall issue and sell its unlimited tax levy general obligation bonds in the prin- cipal amount of $698,000. The additional funds which may be required to pay the rest of the cost of said improvements shall be derived from expected grants and contributions of money from the United States Govern- ment and Yakima County. In the event the proceeds of sale of said bonds, plus such additional grants and contributions as may be received, are insufficient to make all of the improvements hereby authorized, the City shall use the available funds for paying the cost of those improve- ments deemed most necessary by the City Council. Said bonds may all be sold at once, or in such amounts and at such time or times as deemed necessary by the City Council and as per- mitted by law, shall bear interest at a rate of not to exceed 6% per annum payable semiannually, shall mature serially in twenty years from date of issue, and shall be paid both principal and interest out of annual tax levies to be made upon all the taxable property within the City with- • out limitation as to rate or amount. The exact date, form, terms and maturities of said bonds shall be as hereafter fixed by ordinance or ordinances, 2 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 shall issue such bonds, for such purposes, at a special election to be held therein on 411 September 20, 1966 in conjunction with the county and state primary election to be held on said date. The Yakima County Auditor, as ex officio supervisor of all elections held in Yakima County, is hereby requested to also find the existence of such emergency, to call and conduct said special election, 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 said proposition to the Yakima County Auditor in the following form: PROPOSITION YAKIMA MUNICIPAL AIRPORT BONDS - $698, Shall the City of Yakima, Washington, .issue its general obligation bonds in the principal amount of $698,000,'such bonds to bear interest at a rate of not 0 to exceed 6% per annum, to mature serially in twenty years from date of issue, and to be paid both principal and interest out of annual levies of taxes to be made on all the taxable property within the city without limitation as to rate or amount, for the purpose of providing part or all of the funds required to acquire, construct and install certain necessary capital improve- ments at the municipal airport of the city in order to increase its size_and provide greater and mute efficient service, all as more specifically prov14ed:in Ordinance No0 $7 of the city, pa3sed August 1, 1966? BONDS, YES . / / BONDS, NO . / / Section 4. This ordinance is one tOprovide for the immediate preservation of the public welfare, safety aiidconvenience of the people of the City, and an emergency is hereby declared to exist. It is also necessary that this ordinance become effective immediately in order for the proposition provided for herein to be submitted to the qualified III electors of the City on September 20, 1966, _ Therefore, this ordinance shall be,in,full force and effect 3. • immediately upon its passage, approval and publication as provided by law and the City Charter. PASSED by the City Council, signed, and approved at a regular meeting of said Council held this ist day of August, 19660 41 //2,7. Mayor ATTEST: / City Clerk I, MARIE DONELSON, City Clerk of the City of Yakima, Washington, DO HEREBY CERTIFY that the foregoing ordinance is a true and correct copy of Ordinance No. $22 of said Council, passed, signed, and approved at a regular meeting thereof held on the 1st day of August, 1966. City Clerk . #a