HomeMy WebLinkAbout03/20/1933 Business Meeting & 3/24/1933 Adjourned Meeting6_
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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.
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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.