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Home My WebLink About1958-B-2200 ( 1`9 ORDINANCE NO. B-2200 AN ORDINANCE of the City of Yakima, Washington, providing for the borrow- ing of $1,200,000.00 and issuing and selling negotiable gen- eral Obligation bonds for the purpose of constructing :.a rail- road grade separation at Lenox Avenue, a railroad grade at "C" Street, and for certain improvements to City streets and arterials, to be a part of a general plan, a portion of the cost Of which shall be paid by Local Improvement District assessments, Federal aid funds where improvements are made on routes as approved now or in the future; the general obli- gation bonds to be payable by annual tax levies without limi- tation as to rate or amount; and providing for the submission of th proposition of incurring such indebtedness and issuing such general obligation bonds to the qualified electors of the city in special election to be held therein on November 4, 1958; and declaring an emergency. WHEREAS, it is deemed necessary forthe public welfare, bene- fit and safety tha certain streets and arterials be improved by widening, ballasting, gravelling, grading, paving, patching, surfacing or 'sealing where necessary, together with the necessary curbs, gutters, and drainage facilities, and that there be constructed a railroad grade separation at Lenox Avenue, referred to as the "Lenox Avenue Overpass", and the necess- ary approaches thereto; and a railroad grade separation at "C" Street, and the necessary apprOaches thereto; 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 qualified electors of the city for their ratification or rejection; NOW,THFREFORE, BE IT ORDAINED BY THE CITY OF YAKIMA: Section 1. It is hereby found and declared t hat the public welfare, benefit, 4nd safety require the city to improve certain streets and arterials by widening, ballasting, gravelling, grading, paving, patch- ingsurfacing, or sealing where necessary, together with the necessary curbs gutters and drainage facilities, and to construct a railroad grade separa- tion at Lenox Avenue, referred to as the "Lenox Avenue Overpass", and the. necessary approaches thereto, and to construct a railroad grade separation at "C" Street, and the necessary approaches thereto. A description of the specific improvements to be made to the City/street system is specifically set forth in an engineer's study and re- port prepared by the City Engineer, under date of September 6, 1956, amend- ed August 27, 1958, and is now on file in the office of the City Clerk. The City shall acquire all materials and properties, rights of way, franchises, and easements necessary to carry out said plan, and the Commission may make such addition to or changes in the details of said im- provements, either prior to or in the course of actual construction, which shall be found necessary and desirable as long as the same do not substan- tially effect or change the main parts of said plan. Section 2. On those streets or arterials designated as Feder- al/aid approved routes no improvement will be in until necessary matching Federal funds are 4vailaole. Section 3. The improvements provided for herein shall be made in the order of time deemed most necessary by the City Commission and the City Engineer, and if the funds that are available for such purposes are insufficient to make all ofthe improvements herein contemplated, the City shall make those deemed most necessary by the City L'onimission, but in no case will funds be expended on Federal aid approved routes unless matching funds are available. Section 4. That for the purpose of providing funds necessary to pay the City's part of the cost of said improvements, the City shall iss- ue and sell its negotiable general obligation bonds in the principal sum of 1,200,000.00, said bonds to be payable by annual tax levies without limita- tions as to rate or amount. 83-' Section 5. Said bonds shall be sold at such time or times as deemed necessary and as permitted by law, shall bear interest at a rate of not to exceed, six per cent (6%) per annum, and shall mature in from two to ten years from date of issue in such amounts as will, as nearly as practi- cable, together with interest on said bonds, be met by equal annual tax levies for the payment of the principal thereof,and interest thereon, 9oth the principal of, and the interest on said bonds shall be payable out of annual tax levies to be made without limitation as to rate or amount, and the exact date, terms, and maturities of said bonds shall be as hereafter fixed by ordinance of the City. Section 6. It is hereby f ound and declared that an emergency 11 exists requiring the submission to the qualified electors of the City of the proposition of whether or not it should issue and sell said general obligation bonds for the atrove described purpose at a special election to be held therein on November 4, 1958, in conjunction with the general county and state election to be held on the same date. The Yakima County Auditor is hereby requested to also find the existonce of such emergency and to call and conduct said special election to be held within the City on that date and to 'submit to the qualified electors of the city a propsition as hereinafter set forth. The City Clerk is hereby authorized a0d directed to certify said proposition to the Yakima County Auditor in the following form: PROPOSITION NO. • LENOX AVENUE OVERPASS, "C" STREET OVERPASS AND STREET IMPROVEMENT BONDS - $1,200,000.00 Shall the City of Yakima, Washington, issue its general obligation bonds in the principal sum of $1,200,000.00, said bonds to bear interest at a rate of not to exceed 6% per annum, to mature in from two to ten years from date of issue, and to be payable both principal and in- terest by annual tax levies to be made without limita- tion as to rate or amount, for the purpose of construc- ting a railroad grade sepatation at Lenox Avenue and a railroad grade separation at "C" Street, and for making certain improvements to City Streets, artebials, and to be a part of a general plan prepared by the City Engineer under date of September 6,1956, amended August 27, 1958, and on file in the office of the City Clerk, all as more specifically provided in Ordinance Nol 8-2200 of the City, passed and approved this 17th day of September, 1958. BONDS, yes . . BONDS, no , . The polls for such special election shall be open from 8:00 otclock a.m. to 8:00 p.m. SECTION 7. By reason of the facts set forth above a public emergency exists for the immediate preservation of the public peace, property, health, and safety, of the people of the City of Yakima, Wash- ington. An emergency is hereby declared to exist, and this ordinance is hereby declared to be in full force and effect from and after its passage approval and pu)lication as provided by law and the City Charter. PASSED bythe unanimous wrote of the City Commission of the City of Yakima, Washington, at a regular meeting thereof and approved by the Mayor thereof this 17th day of September, 1958. ATTEST: J.A. SMITH ( S E A L ) J.K. ALDERSON CITY CLERK MAYOR I hereby certify that the foregoing is a true, full and correct copy of Ordinance No. 8-2195 entitled "AN ORDINANCE of the City of Yakima, Washington, providing for the borrowing of $1,200,000.00 and issuing and selling negotiable general obligation bonds for the purpose m of constructing a railroad grade separation at Lenox Avenue, a railroad ; 2 grade separation ait "C " Street, and for certain improvements to city streets and arterials, to be a part of a general plan, a portion of the cost of which shall be paid by Local Improvement District assessments, Federal aid funds (here improvements are made on routes as approved now, or in the future; the general obligation bonds to be payable by annual tax levies without limitation as to rate or amount; and providing for the submission of the proposition of incurring such indebtedness and issuing such general obligation bonds to the qualified electors of the city in a special election to be held therein on November 4, 1958; and declaring an emergency., as passed on the 17th day of September, and that the same has been published as required by law. a. 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