HomeMy WebLinkAbout1956-B-1924 r'88 .
ORDINANCE NO. B -1924
AN ORDINANCE of the City of Yakima, Washington, providing for the borrowing of $400,000.e0
and issuing and selling negotiable general obligation bonds for the purpose
of contributing toward the cost of constructing and.,,.equp.pinga new Region-
al Library Building, the bonds to be payable by annual tax levies without
limitation as to rate of amount; and providing for the submission of the
proposition of incurring such indebtedness and issuing such bonds to the
qualified electors of the City at a special election to be held therein on
November 6, 1956; and declaring an emergency:
WHEREAS, pursuant to the laws of the State of Washington, the City of
Yakima has joined with the Rural County Library District of Yakima County in establish-
ing and maintaining a regional library known as the Yakima Valley Regional Library; and
WHEREAS, the present public library facilities of said regional library are
inadequate to meet the present needs of the people and it is deemed necessary for the
public welfare and, benefit of the inhabitants of the City of Yakima, that a new public
library building be constructed and equipped; and
WHEREAS, it is deemed necessary and advisable that the city issue its
general obligation bonds in the principal sum of $400,000.00, to be used with funds
to be provided by said Rural County Library District of Yakima County, to provide funds
to construct and equip said regional library building; 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 sub-
mitted to qualified electors of the City for their ratification or rejection; NOW,
THEREFORE, .
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That for the public welfare and benefit, the City shall, joint-
ly with the Rural County Library District of Yakima County, with sufficient additional
funds provided by said Rural County Library District of Yakima County, construct and
equip a new regional library building, complete with all heating, electrical, ventilat-
ing, plumbing, and other appurtenances necessary therefor, in the vicinity of the corner
of North 3rd Street and East A Street in the City of Yakima. .
For the purpose of providing funds necessary`for said regional library
building, the City shall issue and sell its negotiable general obligation bonds in the
principal sum of $400,000.00 said bonds to be payable by annual tax levies without
limitation as to rate or amount.
Section 2. 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 twenty years from date of
issue in such amounts as will, as nearly as practicable, together with interest on said
bonds, be met by equal annual tax levies for the payment of the principal thereof, and
interest thereon; Both the principal of, and interest on said bonds, shall be payable
out of annual tax levies to be made without lijitation as to rate of amount, and the
exact date, terms, 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 it should issue and sell said general obligation bonds for the above -
described purposes at a special election to be held therein on November 6, 1956, 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 existence
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 proposition as
hereinafter set forth.
The City Clerk is hereby authorized and directed to certify said proposi-
tion to the Yakima County Auditor in the following form:
PROPOSITION NO.
REGIONAL LIBRARY IMPROVEMENT BONDS - $400,000.00
Shall the City of Yakima, Washington, issue its general obligation bonds
in the principal sum of $400,000.00, said bonds to bear interest at a rate of not to
exceed 6% per annum, to mature in from two to twenty years from date of issue, and to
be payable both principal and interest by annual tax levies to be made without limitat-
ion as to rate or amount, for the purpose of contributing toward the cost of construct-
ing and equipping a new regional library building, with sufficient additional funds to
be provided by the Rural County Library District of Yakima County, said regional library
building to be located in the vicinity of the corner of North 3rd Street and East A
street, in the City of Y kima, as more specifically provided by an ordinance of the City,.
passed and approved ' , 1956.
BONDS,. yes . . -. . l ,/ 1
BONDS, no . . .. .
The polls for such special election shall be open from $:00 o'clock a.m.
to $:00 o'clock p.m.
389
ORDINANCE NO. B -1924
Section 4. By reason of the facts set forth above, a public emergency exis's
for the immediate preservation of the public peace, property,. health and, safety, of the
people of the City of Yakima, Washington. An emergency is hereby declared to exist, and
this ordinance is hereby declared to be in full force and effect from and after its
passage, approval and publication as provided by law and the City Charter.
PASSED by the unanimous vote of the City Commission of the City of Yakima,
Washington, at a regular meeting thereof and approved by the Mayor thereof this 27th
day of August , 1956.
ATT$ST: J. A. SMITH (S E A L) C. H. BEHNKE
City Clerk Mayor
I hereby certify that the foregoing is a full, true and correct copy of Ordinance
No. B -1924 entitled "AN ORDINANCE of the City of Yakima, Washington] providing for the
borrowing of $400,000.00, and issuing and selling negotiable general obligation bonds
for the purpose of contributing toward the cost of constructing and equipping a new
Regional Library Building, the bonds to be payable by annual tax levies without limitat-
ion as to rate or amount; and providing for the submission of the proposition of
incurring such indebtedness and issuing such bonds to the qualified electors of the City
at a special election to be held therein on November 6, 1956; and declaring an emergency "
as passed on the 27th day of August, 1956, and that same has been published as required
by law.
Y T Y Y C L E R K