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HomeMy WebLinkAbout03/20/1933 Business Meeting & 3/24/1933 Adjourned Meeting6_ _ T',,e City Corci-mission let iii regular session, Mayor Stratton and Commissioners Washburn arid. Clark present on roll call. Moved by Stratton, seconded by Clark that the minutes of the regular meeting of Monday, March 13th, 1933 and adjourned meeting thereof; be approved as read: carried, Stratton, Washburn and Clark voting aye on roll call. Moved by Washburn, seconded by Clark that the City Clerk is hereby authorized to give notice to gasoline dealers for bids on gas for the ensuing year; said bids to be receiv- ed on Monday, March 27th, 1933 at 10 o'clock A. M: carried, Stratton, Washburn and Clark voting aye on roll call. Proved by Washburn, seconded by Stratton that the following payrolls be allowed and the City Clerk authorized to issue warrants as follows: Street Dept. $1,132.81; Cemetery Dept. $108.00; Cemetery Care $42.00; and Park Dept. $160.50: carried, Stratton, Wash- burn and Clark voting aye on roll call. Moved by Washburn) seconded by Stratton that the following claims be allowed and the City Clerk authorized to issue warrants therefor: carried, Stratton, Washburn and Clark voting aye on roll call. CURRENT EXPENSE WATER Warrant No. Name Amount Warrant No. Name Amount 861j Associated Oil Co -$376.78 •11916 Burroughs Add. Mch. Co $2 .00 14 Burroughs Add.-Mch. Co 36.00 17 H. M. Collett 24. -Z0 15 C. S. Burnett 10.00 18 Fruit Appliance Co 59.40 16 Bell- Illyman Co 3120 19 H. D. Grimes 50.00 17 City Laundry 16.27 20 Huettner Bros. Motor Co 2.55 18 Colyear Motor Co 3:30 21 Lentz Hardware Co 7.55 19 Paul V. Creamer 3.50 22 State Treasurer 60.37 20 Crouse -Hinds Co 5.71 24 Valley Iron Works 87.29 21 Hassett Motor Co 1.00 2. Yak. Brazing & Welding .75 22 H. L. Leeper, P. M. 13.00 317.21 23 Jerome Lewis & Co 5.00 2 Fred Linse 7.70 CEMETERY 25 Frank LaBarr 10.00 26 John D. Lyon 7.00 Warrant No. Name Amount 27 Joe Marsh 5.00 28 New Schanno Ditch Co 29.30 3453 Associated Oli1 Co $ 22.35 29 Northwest Cities Gas 11.74 30 National Soap Co 36.24 PERMANENT HIGHWAY 31 Sch.ichtl Bros 378.14 32 Sunset Highway Co 1.83 Warrant No. Name Amount 3 Clarence Shephard 9.20 34 State Treasurer 29.15 5814 Northern Pac. Ry. Co. $ 2.48 35 Schurman -Keith Co 6.o0 36 Paul & Bailey 1.00 DELINQUENT PROPERTY SALES 37 Puick Print 1.00 38 Valvoline Oil . Co 6_._0_9 Warrant No. Name Amount $1,041.11 5815 County Treasurer $ 25.67 Moved by Stratton, seconded by Clark that we do now adjourn to meet Friday, March 24th, 1933 at 9 o'clock A. M: carried, Stratton, Washburn and Clark voting aye on roll call. ADJOURNED MEETING, FRIDAY, MARCH 24th, 1933 RESOLUTION NO. 0-61, A RESOLUTION authorizing the execution of an agreement to extend the date•of maturity and reduce the rate of interest upon certain bonds issued by the Tacoma Masonic Corporation, which said bonds are.now owned by the Cemetery Trust Fund and the Water Deposit Fund of the City of Yakima. WHEREAS, the Water Deposit Fund of the City of Yakima is now the owner of Tacoma Masonic Corporation, 50, First Mortgage Gold Bonds, numbers D -67 and D -68 of the par value of $500 each and numbers 11-123, M157, . M230 of the par value of $1000 each, and WHEREAS, the Cemetery Trust Fund of the City of Yakima is now the owner of Tacoma Masonic Corporation, 5o, First Mortgage Gold Bonds, numbers D -55, D -58, D -59 and D -60 of the par value of $500 each and numbers M167-Ille8- 12178- M179- M180 -M182- M185- mlg 6- Ml8g- M19o- M191- t!192- M203- M2o4- M2o5- M206- M207- M208- M209- R�21o= LF211- P�f212- Ni213 -1M21 ]215 of�the par value of $1000 each, and WHEREAS, it appears that the financial depression has effected the income of the Tacoma Masonic Corporation to such an extent that it is necessary to reduce the amount of interest payable on these bonds from 5-,'-% to 2 314% for a two year period beginning December 1, 1932 and that the maturity dates of these bonds be extended for four years, except that no maturities be extended beyond the final maturity of 1948. NOW, THEREFOR, be it resolved by the City of Yakima that the Mayor. and City Clerk, respectively, of said City of Yakima, be and they are hereby authorized and empowered to execute a certain modification of trust deed and mortgage agreement, giving to said Tacoma Masonic Corporation, through its Trustee the Bank of California, National Association, of Tacoma, Washington, the right to reduce the interest on said bonds for a two year period beginning December 1, 1932 from 52-11110 to 2 3/4% and to extend the maturities of said bonds for a four year period providing, however, that this exten- sion shall not change the final maturity date of said bonds which is December 1, 1948'. This resolution is adopted by the City of Yakima with the under- standing that such reduction of interest and extension of maturity dates shall not become it N. i 11 operative unless 7% of the holders of said bonds shall agree to such terms by the ex- ecution of similar modifications of trust deed and mortgage agreement. Moved by Washburn, seconded by Stratton that Resolution No. 0-61 be adopted as read: carried, Stratton, Washburn and Clark voting aye on roll call. Moved by Stratton, seconded by Clark that we do now adjourn:- carried, Stratton, Wash- burn and Clark voting aye on roll call. 1 ATTEST: C i t07 C 1 e r k. 1 1 Mayo r. The Treasurer of the City of Yakima is hereby authorized to transmit together the copy of said modification of trust the deed bonds enumerated above with executed and mortgage agreement to the Bank of California, National Association, of Tacoma, Wash - ington, for the purpose of changing said bonds to conform to the terms contained in said modification of trust deed and mortgage - agreement. Adopted by-the City Commission this 24th day of March, A. D., 1933 ATTEST: PEARL BENJAMIN, (S E A L) W. W. STRATTO City Clerk. Mayor Moved by Washburn, seconded by Stratton that Resolution No. 0-61 be adopted as read: carried, Stratton, Washburn and Clark voting aye on roll call. Moved by Stratton, seconded by Clark that we do now adjourn:- carried, Stratton, Wash- burn and Clark voting aye on roll call. 1 ATTEST: C i t07 C 1 e r k. 1 1 Mayo r.