HomeMy WebLinkAboutOrd1957-272
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ORDINANCE NO. 272
All OHDIHi:'HCE of the City of SewZlrd, Alaska, orderinc
a special election to be held within the city ~or
the purpoJc of submittinc a proposition to the
~lalified 81ectors thereof of whether or not the
ma.dmtun interest rate that might be borne by
electric utility revenue bonds of the city
previously authorized should be increased to
not to exceed 6~ per annum, and declaring an
emergency.
'iJHEREAS, p1;r::m:mt to Ordinance No. 253 of the Ci t.:,' of Scv;ard,
Alaska, passed Zlnd approved January 211" 1955, a ::;pecial election was
he::!..d ',iithin the city on February 23, 1955 upon the folloi'rinc proposition:
"PROPOSITION
"Shall the City of Seward, Alaska, issue its bonds
p:":'YJ.ble out of the revenue of its electric utility
system in the principal sum of not to e::ceed
~~,50C,OOO, such bonds to bear interest at a rate
of not to exceed 5;; per annum and to mature scri-
alJy in not to e;:cced thirty years froIT: date of
issue, for the purpose of providinG funds to
acquire, construct and install a hydro-electric
Generating plant, tran3IT:i38ion and distribution
facilities, as Q ~art of its electric utility
SY3tCr::, all 3.:3 more full:,- provide.] in Ordinance
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HHEliliAS, Section 2 of s:,lld ordinance 0.1so provided +:hat said
bond::; ::;ha11 boo.r :tnterect o.t a ro.te of !lot to exceed 5~ I)Cr ZlnmllTI pay-
0.blo :3emiannua11y; amI
lJIIEREA3, ~c..id propo:>i tion vra.3 approved bJ:" th2 ne::;es.J;.ir:1 rnajori ty
of the voter::; votinG thereon at said ::;peciaJ. election; an.]
',IIlliTlli.~...), the rc::;ult of :3'-,c11 vote Vi'::":> confirmed in Jection ]. of
Ordinance No. 261 of the city,
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u.n-..A 'rr.;:'lr~ 1:>:::"I.}' O~ A1CiGI:a l1':..C,.re :;0 chanced ;.Jincc ,3aiJ. clection--u.r~j
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tl1at an:/ lJiJ.r-:. or a:!..l of tl1C rcrno.indcr of
~uch ~orl\.lc
;.;c> v.~..1th0ri~c:c1 r;!~y U..; ;::;old no',; or in tile foreseeable futur.~ ;j.t ~
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~,~I{EREAS, it i3 d~C'rneJ. nce~3G.:.J.r:l ar:J. auv1su.l)lc b::r t::is
COrr'.Jl10n Cot~n'~:l t~1at in order to tal:c aJ..~n3.iltaG0 of ~"'lcather condition;.;
~:1d to rncct ?orcst Ser'tlicc requ.irCl:l0nt3, another vart of 8aid bonds
tc GoJ,:} a~ soon a~ r;oD31tle to a~quir~, ccnctruct and install part
cf the ir.1p~overncnt;::) fO::7 \lhicl: the:/" \"lore authoriz::d; and
\~llEREAS, it appears that nO::1e 0:' sa:.u tonds can 1:c so::u
1.lnd:::.'"" pre;:;cnt marl:ct conditione tmlc33 the T:1a::ir;:1Z1 interest rate
that they might bear be :.ncrcased to tbe lec;al rate of C;(, per ann:.rrn
anJ, therefore, that a :::;pecial election be held "Iithin the ~itJ .:'0:'
such purpose as soon as possible;
JJOvJ, THEREFORE, DE 1-:;:' ORDAIlJED 1:::; the COlTIDon Council of
the Ci t::,' of SC\iard, Alaska, as fo11Q',';:';:
Sc-::tion 1.
It is hereby found and declared that the public
\.-eJ.fare and benefit require that a spc~ial election be held \'lithin
the city on the 16th day of April, 1957, for tho submiss~on of the
f0110'.'linc proposition to the qualified elector::; thereof for their
:;:oatification er rejection:
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G tf~~. 2u.ll:J' r.,:'Jo~/~tJ,:::J. In OrdinDJ1CC ::0. 272 of th(' c:.. t;y" ,
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Section
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The pollinc place for caid special eJ.cc+;ic;1 ;:;h""ll
1'" the Sit:,: Ibl1, ::;.nJ .Jail pollinc place chaTl re open from 3:00 c'clo::l:
.:l.
["1. to
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I" v'''-'
o'81ocl: p. Ii:.
The
(31e~tion
officiul~
to cervc at such pollinG
l' ~ ' '.; l.' ......
1"'................-
~h~J.l
t,e a3 follo11''Vs:
MILDRED E. KIRKPATRICK
In::.;r-cctor-Judge
REV. CARTER VAN WAES
JvdCe
EDA MYERS
J'.H1ce
WILMA LIND
Gler]:
LENORE ROBBINS
Clerl:
illl resident::.; of the city -.;ho :.lre qualified and re.=;i::;terc'i
\Toters wldcr ordin::m~e::; of tho city and 1<1'.'18 of the Territc:::"j of AlJ.::::1.:J.
:lnd the TJni ted 3tatcG of America 3hall be e~ti tIed to \?'otc ~t :;3.}.:1
21e~tion.
The rcci3tration for ~uch cle~tion, the manner of ~lV~~:
notl~c of and co.nductj,n.c the :J3.ffiP, the oath:] of t.he officer~ cf clc,~tjron ~
::;.r:J tho canV3-::;G of the returns thereof, ::;hall all be in :lccordanc>:) :Ii t~:
tn0 rcq',J.iremcnts of Lrd J.nd ordinan:::;:;::; of the city for special election:::
therecf held therein.
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0cction~. This ordinance is declared to be one necessary
lor the ir.n::ediate preservation of the public peace, propcrt;ir, he;;.lth
and safety of the people of the City of Seward, Alaska. An emerGency
i.:; hereby declared to e::i:::;t, and this ordinance shall take effect
irr~ediately upon it:::; paGsaGc, approval and e::ccution, and shall te
putli::;hed bJ" po stine; a copy the!.~eof in three public places in the
city, one 0::' ',;hich shall be the City Hall, or by publication in one
i3::;ue of a ne,'mpaper of General circulation published ..Ii thin the city.
PASSED and APPROVED this 26th day of March
10[:;'7
J ~~ J I .
CITY OF SEWARD, ALASKA
By g,r,:; Q --I.Jd~
!lJ!o.:lor
ATTEST:
~.Jt.~.
~. City Clerk
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