HomeMy WebLinkAbout1956-B-1936 ORDINANCE NO. B -1936
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 of constructing a railroad grade separation at Lenox Avenue
referred to as the "Lenox Avenue Overpass ", and for certain improvements to
city streets, arterials, and sidewalks, to be a part of a general plan, a -
portion of the cost of which shall be paid by Local Improvement District
assessments; the general obligation bonds to be payable by annual tax
levied 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 6, 1956; and declaring an emergency.
WHEREAS, it is deemed necessary for the public welfare, benefit and safety
that certain streets and arterials be improved by widening, ballasting, gravelling, grad-
ing, 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 necessary
approaches thereto; and
WHEREAS, it is deemed necessary and advisable that the city issue its
general obligation bonds in the sum of $1,200,000.00, a portion of the funds realized
from the sale of said bonds, to -brit, the sum of $200,000.00 to be used as matching funds
with Local Improvement District funds for improving the city street system; 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, THERE-
FORE,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1, It is hereby found and declared that the public welfare, benefit
and safety require the city to improve certain streets and arterials by widening, ballast-
ing, gravelling, grading, paving, patching, surfacing, or sealing where necessary, to-
gether with the necessary curbs, gutters, and drainage facilities, and to construct a
railroad grade separation at Lenox Avenue, referred to as the "Lenox Avenue Overpass ",
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 report prepared by the City
Engineer, under date of September 6, 1956, and is now on file in the office of the City
Clerk.
The City shall acquire all materials and properties, rights of way, franch-
ises, and easements necessary to carry out said plan, and the Commission may make such
addition to or changes in the details of said improvements, either prior to or in the
course of actual construction, which shall be found necessary and desirable as long as
the same do not substantially effect or change the main parts of said plan.
Section 2. In order to possibly obtain additional funds for the contempl-
ated improvement to the City street system as provided for herein, it is the expressed
intention of the City Commission to apply for an make every effort to obtain federal and
state matching funds.
Section 3. It is part of this plan that the city shall expend the sum of
$1,000,000.00 for the construction of a railroad grade separation at Lenox Avenue,
referred to as the "Lenox Avenue Overpass ", and for improvements to streets and arterials
and that the sum of 4$200,000.00 be made available as matching funds with .Local Improve-
ment District funds for the purpose of improving City streets and arterials and for
constructing such sidewalks which the City Commission deems necessary for the protection
and safety of school children, the amount of said matching funds for any specific im-
provement to be in proportions which the City Commission shall in its judgment deem
proper.
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 of the improvements herein
contemplated, the city shall make those deemed most necessary by the City Commission.
Section 4. That for the purpose of providing funds necessary to pay part
of the cost of said improvements, the City shall issue and sell its negotiable general
obligation bonds in the principal sum of 4 said bonds to be payable by
annual tax legies without limitations as to rate or amount.
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 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 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 found and declared that an emergency exists requir-
ing the submission to the qualified electord 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 reghested 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 herein-
after set forth.
49
ORDINANCE NO. B -1936
The City Clerk is hereby authorized and directed to certify said proposition
to the Yakima County Auditor in the following form:
PROPOSITION NO.
LENOX AVENUE 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 interest by annual tax levies to be made without limitation as to
rate or amount, for the purpose of constructing a railroad grade
separation at Lenox Avenue, referred to as the "Lenox Avenue Overpass ",
and for making certain improvements to city streets, arterials, and
sidewalks, to be part of a general plan prepared by the City Engineer
under date of September 6, 1956, and on file in the office of the City
Clerk, all as more specifically provided in Ordinance No. B -1936 of the
City, passed and approved September 21, 1956.
BONDS, yes . . . .
BONDS, no • • • •
The polls for such special election shall be open from $:00 o'clock a.m.
to $: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, 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 21 day
of September, 1956.
ATTEST: J. A. SMITH ( SEAL ) C. H. BEHNKE
City Clerk Mayor
I hereby certify that the foregoing is a full, true and correct copy of Ordinance
No. B -1936, 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 of constructing a railroad grade separation at Lenox Avenue, referred
to as the "Lenox Avenue Overpass ", and for certain improvements to city streets, arter-
ials, and sidewalks, to be a part of a general plan, a portion of the cost of which
shall be paid by Local Improvement District assessments; the general obligation bonds
to be payable by annual tax levies without limitations as to rate or amount; and provid-
ing 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 general
election to be held therein on November 6, 1956; and declaring an emergency." as passed
on the 21st day of September, 1956, and that same has been published as required by law.
Y C L E R K