HomeMy WebLinkAboutOrd1949-197
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117
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.ill lJrdin3Ilce of the Cit~r of ../s'.'iu,rd to l:Tovide faT c;'e
issuance Clnd s~~le of ne,~otiable intel'est-be-:ll'in2: revnue
bonds of said city in tne Sill[l of Uile LUlldrea J.i'our ThoLlsand
Dollars L~104,uOO.uO) to ::.l'oviae I'llrh,:'c; for t;,e expfu'1.sion,
extension uncl rehabilitation of lllunici:9ally O\'Il1ed electric
utility und for tlle fcatl,8r fur~)o,se of refundin:j outstanuine:;
revenue bonds no,,; Lold by t"~e ",econstl'uct ion i"inance Corral' E;,-
tion, i,ursuunt tu t'B _cct of Con,~l'ess u-",d'ove'l .",arch 6, 1946,
Chayter 52, C,I) ,~tat. 33, suid bo::::::d8 t,) be 23Llli.c-'urted ~:r.d
secured by a jJledge from t"e revenue fI'Olll said utilit~' 90S
au thor i zed in said iCC t:
.J~ i11 L...J)...:..n,.~D b~r the c;o:Oi.~J.'~o.r. Cowlcil of tJ.";,e City of
.':.ie\\I,'-~rd, ...lnska, .J.S fallo"','\'s:
~ection I. 1:ur8uant to t'18 .-.ct of ConJress ui;[,roved ;,.arc11 6,
1940, C11UIJter 52,00 .::,tu.t. 33, \Jhereby Iilunici)3.l corl'or2.tions in
.J.a,s}:a <;,.re l,ermitted to reconstruct, i[llprOVe, extend, better,
I'epair and e ~ui:p Ijublic,;or;-~s which ure to be o~:.'erute6. upon 3.
reve11Lle-l'roducj,nc.: basis, a special eJection is L'oreby cs.lled to
be he ld iE the
-4~~~-
and ,:;,ursuimt to
City of i::;.eward, "c1asL:3., on the
~
d,uy of
, 1949, under the nrovisions of said .~t
tlee 13.',IS of the 'i'erritory of alaska :?-Jld the
ordinances of k.e City of .:.,evmrd.
uection II. There s11a11 be SLlbl'litted tr.: the 'iLlalified
voters of said city, authorized to vote at said election the
f0110winS )ropositions:
(1). ulw.11 the City of ..;e'"urd, _.18.s1:a, for tie JJLll'[OSe
of refun' .~nG the existinG indebtedness u[lon .:>rinci.['sl unG.
interest
owsu to the Reconstruction ?inaEce Corporation,
issue reVdnU8 bonds, either with or without interest coupons,
of tlle City of ueward in the sura of
..fJl tJtJo ~
.
maturing serially from two (2) to fifteen (IS) years from d~te,
emU for the paYfllent of s:::',id bondsLJled~e t.!:"e revenue of said
utility for the iJ3.ymen t of principal and interest thereof, dllQ
issue suid bonds either as a separate series 01'
in com-
bination ,Ii th oth er bon<J.s to be ilLJ,thorized :for the extension
and ilLll,rov eFen t of scdd ut ili ty, all us authol'ized by the -''J.ct
of ConGress approved karch 6, 1946, Chapter 52, 60 ~tat. 33,
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said bonds to be issued by s'J.bse "uent Grdinance or hesolution
issued by the Common COWlcil of the City of ::'-8'.'13.1'0. uTJon such
terms, conditions, c.nd 1llatllrities QS may be ordained b~r s:J.id
Council and upon an interest rate not exceedin~; five .::'Ell' cent
(5/'1) .
(2). ",hall the Cit~- of .:.ie',:c,rd, for tLe ~.'Urrose of eX::Cilld-
inl;, rehabilitatin;c;, ila,JTovin~, betterinc;, repairing and equip:Jing
the "G'.lard J1lunicipul electrical utility s3rstem, and in addition
to t1:le oono.s to be issued for the fJul'IJOse of refundin:..; the
existin.g indebtedness ov,ed to the heconstruction Finance Cor1'ora-
tion, issue revenue bonds, either with or without interest coupons,
sUPl,orted by a .Uledse of tte revenues of sc.id utility, said bonds
to be issueci either as a sere,rQte series or in conbin:ltion wit~l
any boncis issued to refWld the existins indebtedness to the
~:econstruction Fin3J1ce Corporation, all as authorized by the .:'ct
of Congress QIJFoved l.iarch 6, 1946, Chapter 52, 60 utat. 33, said
bonds to be issued by subseCluent Ordinance or Hesolution of the
Common COWldil 01' the City of Jevw.rd u}Jon such maturities,
terms and concH tions as may be ordained by tIle said Council and
upon un L1terest rate not exceedinz five reI' cent (5;0).
uection III. ..;.11 Cualified voters of said TI1WlicilJality
rec:istered in COInl]liance v!ith tIle ordino.nc8s of the City cf ..,,8'iJUl'd,
sl'ull be ,ualif'ie d tu vote at s&id elect ion 8.nd )ersons thereof
ot~lervJise r~ll:ilified to vote 'who have not I'e::;istered in CO"11,liat1Ce
'i,'i th the ol'dinunces of said City sl,all not be "ualified to vcte.
>-Jection IV.Ehe pollinc; ")lace for tIle s::icl election shull
be at tile City hall in the 8",id City of ",ev:urd, -lEd tile rolls
s~wll be o~'ened from 8:00 ... 1". of said election QcJ,)' until
7: (10 1.. 1\_. of S o..id Q uJ: .
set :Lorth, and hereby appoints
7fkflH~ /t!u~tlEu{ as
hereby cc-,'l-,oints L 'rvrI1J~~
as jud::es to condu.ct
",ection V. The C i tjT
~;.~ ~ ' &Do.
sc.id de ction at
jlLJnne r Ie ere in
and
caid
election.
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~ection VI. hotice of s~id election 8L~11 be ~iven by
.-ostin.:; a Ylritten Llotice tLereon on the bulletin bo:ud of the
Citl~,- l.'-all ('1' said ci t~', the United i3t~ces ,Ljet Lffice, 21d ut
the of1'ico 01' t~le ">.lac~~a l(ailroad Dock in sc.Ld city, c~ll of
vihich ~)lace~3 ilre hel'eby 1'0 UIlll (h'K declo.r'ed to be conspicuous
l'laces ':;1 thin the corporate limits of saicl city. "",(lid notice
of election sLall be )usted not less thiJl1 ten (10) days [n:'ior
to saiu election.
u8ction VII. -.iaid not ice shelll be signed by the l'.,ayor of
said city und attested by the City Clerk and shall be in sub-
stunt iully the followins form:
liCh'ICb Vi! ""'.LJ!.;GL..l.. 12.LC'lION
f duy of
be held in the
~~~~-
City of i:::ew:::.rd,
~i ,s.l~ecJ~al
ele ction will
"clas},a, on the
, 194'7, for the
})lll'i1ose of submittin~ to the :lualified voters of sedd City, Vd10
are recistered and 'luulified to vote in accor(j.e~l1ce '"ith the
Ordin0.nces 01' tLe City of 08ward ~overnin~: elections, the
followin~ 1uestions:
"",hull the City of b8ward, _.lu sleel, for tile l)lll' :pOR e of
refundin:; the existin3 indebtedness upon jJr incipal 3Ild
interest owed to the }(econstr'uction l"in&nce Corporation,
issue revenue bonds, either with or without interest 6'V
coupons, of the City of ;:,ey;ard in the sum of J~"cJO -
matlll'in3 serially from two (2) to fifteen (15) years from
date, and for the IJayment of eO.id bonds pledge the
revenue of said utility for t~le :)ayment of IJrinci:pal
QUd interest thereof, ~illd issue said Lands either as a
separate series or ~~n combination wi th other bonds
to be authorized faT tile extension cmd ifl)l'ove!:'lent of
said ut ilit;/, ull :;.s author izeu by the .cct of Con-.:ress
uPI)roved l,"arch 6, 1946, Cha1>ter 52, 60 "",tat. 33, s2.id
bonds to be issued by subsequent Ordinance or Uesolution
issued by the COl:lmon Council of tJ'e City of-J8':vard Ul)On
such terms, conditions, -ind maturities as may be ol'dained
by said Council und upon ~~ interest rate not exceedinc
five 1)81' cent (51").
"hall the City of .::ie'Nard, for the J'urpose of eXl'i:L'1din;::;,
re11abili ta tin;::;, im~)rovin.z, be t tel' in,~, 1'e L:air ins und
elJ.uil)pin~ the 0e'viurdc'"UIlicipul electrical utility system,
dlld in c.ddition to the bones to be issued for t""8 j)urpose
of refLmdin:.:; tLe existinc; inuebtedness owed to tile
..:(econstruction l"in3.nce Cor;;oration, issue revenue bonds,
either Dith or Dithout interest couuons, sup]orted by a
j,led;::;e of the revenues of s,,"id utility, se.id bonds to be
issued either as a separate series or in co'~~nc.tion
with any bonds issueci to refLU'ld tile existin~ indebtedness
to the ~econstruction ~inc.nce CorporatioIl, all as authorized
by the "~ct of CCllsress QlilrOved Larch 6,1946, CLapter 52,
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~,.
60 ..)t~,t. 33, 8J.id bonus to be L3sued b~ sUbse'luent
urdinance or ~':eso1ut ion of the COl'lmon Counc i1 of th e
City of ",ewc..rd u)on such maturities, terms c,r.:.d condi-
tions as DiU;: be ordained b~' the Gelid Counc il and ufon
un interest rute not exce8diDC; five .:.131' cent (5,,,).
1']:.e pollinc; )lace 'Jiill be c1.t the City Hall in the City of
,~ev"Ql'd, ..1:3.8,:::" ::md the 1)0118 viill be I)"en from 8:00 _"-_ I... until
7:00 1.-'.1. or ;:",c.id da~l.
1'110813 gersons VillO &1'e citi7;ens of the United .:itates over the
'-lee cf' tVlenty-one ye:.u'"", 'iIL,o UTe bOIlCe 1'io.e resiuents of the
t'erTitor~' oL.lQS~;.,J., oDd \:ho IHlve been such Tesiden ts continuously
dllX'inG the entire ~'eal' iJ"uedL.tely I'Teceedln~ tl',e election, Qnd
Vlho Ju',ve been SlLCh residents cOIltinllollsly for thirty days next
ireceedin"j the election vithin tile cOTliorc:..te limits of tlle City
of 0eward, who are &blo to reCi.d tLe COIwtitution of t~,1e united
utates in .r..n::;lish 1311Guc..,c;e, end to v:rite trie 2n::;li8h L:rrL~lla:.;e,
,:..rid who are :re,..;lstered ',;;.nd :.'x.:ili.Ciec[ to vote in accol'ucmce Vii th
the ordin:mces of t~le City of i.:oev,c.rd l~overninl; elections, shall
be CJ.ualif'ied to vote at said election.
~o 8aeciul reGistration for this election prior to the date
tile reoI' s11ulliJe rec;.uired.
Ii.' ::c Dl::::.jority of the voters c.lt s::~id sl'ecial electj.on shc..ll
CClSt tlleir V~8S in f!J.vor of i.s~minG reV8:Jue bon,ls in the amount
0'1' ,IIj ft~; ~~ for the ,~)ur ~ose of refw1\ling the existing
.Lndebtedness Llpon jJl'inc i}Jo.l and interest ov;ed to the J::econstruc-
tion 1!'inClllCe GorjJorution on bonds llel'etofore i,'3Su8d"urslu.nt to
ul'dill(lllce l.~o.
//1 1 and l'evenue bor.ds in the U,,"OLL'1 t of
S~l")1) ~ fU1' t;ie l,ul".,)ose of eXjJu'l,dinc;, rel1,-,bilitatin..:.:;)
irl1l'l'Ovinc, bette1'in,.~, l'81,:.;.il'in~; :J.Ilc1 er1uippinc; tl,,=, .:>8vi:J.rd Flunici[:al
electric;",l 'ltility systen, und sh~J.ll by SL1Cll vote C:llIthori:::e tl'e
iSSlLUlce of line ;,~unJl'ed l<'oLlr rJ.'110US~'.""d ::JolLu's (,(l()~~,GOO.()(j) in
l'evellue bonds of trle Git~i of .::ievvelrd, tl:.en the COLl.Lcil of s::.id
City
!.,ro-u0;30.8
. ~
tCJ .\.ssue l'evenue bonns in t;~c
~.U..nl of Gnf~ ~~Ull(. i'ed
.i:,'OU1' 'J.'hous[md Dol1o.1'S (",104,,-JOO.C)U) sec'.l1'Gd only by :J. [Cled'je
of' tho l'eVerHle of s"'.\,0 lltilit~' in tLG t,!t:"l .pC'j'F~i;;:J.l SLU1'. of
,
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~
OneL'':U11dl'ed ,/')!J:C~ r:LOI123.1'd Dollars (""lUL:_,GOO.OO) 01" s~1C[' "art
thereof uS the Ci t;; Counc il of t~le Oi t,y of Sevmrd may deem
necess:lI'~; to 3.ccompli -,' t,he refLL"lding ''': existinG in5.ebtednec2
to t~~I_e ~(8con.struction .lj'il1Cl.DCe Cor}.Jorution of t:l8 ~L;11er['_~iI1G
~Lmt u.n(~ d1,jtc:ib'",ti:Jn ~'~' stem of tl:e r;mnicirul1y o'.med electric",l
,..,.tj 11. t.)l I)
Interest Ul!on 2,:~id bc)r~cls ~~'::'Jl"L I1Jjt eJ:C89d fi.ve -'~l'
" (~ ,
en" ~ " '
c_.<. l.J ./;J J
.J.. er C.l"::.nl~l1-i,1. ~.~(~n :~'.lic}. J:'Jl1d~.: :-:-:~.~al2. (--~:..i. tu.:re
SC I' i_:tlly ~~C)lT'_
t\'JO (~) to fifteell (15) yeul1s frorc UL--tt3 w~1i til.e 5_:Jf.:uo..ace thereof
sLQ1J ir1 :,,11 1'8SL'ects confirHl "itll L;81:8r:-,1 10.1; :,r;d '.;i ti" the
ordil1illlCeS of tLe Oi t~i of .:Jc',iard.
,j.ll...is !lot ice =L;~ 0l.Ve':1 ~;LlrSLlant to ti':'8 .l.ct of Co.Ll,:;ress
U':').t-)I'ovecl. L.lc.lrch 6, l~-}/j-C,
,....",'y"-Or c;~ ,/ru tat
-'~J-o..i V<;"j /.(" U w 0
"i:n8'~ ~
'layor
(
33.
1,X~,
....ttest;
City Clerk
",action VIII.l'lle form of t:'e bc,llot 31":;,11 consist of' the
'luestions set -Cu::,tL in .:.>ection II of this ol',Ji1.Qnce ',\,ith tr,e
uddition of the fol1ovling:
]:!'or refuno.i!l'~ ke existins indebtedness upon ~lrinciI.:al
unO. interest o-"Jed to k"e l..8coEstr:.1ction Finu"c.ce
Corporution upon bonds heretofol"e iscued I'ursuant
to vrdinance /91 ,the amount of s!.1ch indebted-
ness beinc #..'~~o"n Df) ,and the is Sl'ance of
revenue bonds with or without interest coul,ons
8.S stuted G.bove.
"",,;Z;..inst refL:.ndin~ the existing indebte'lness upon
IJrinci;;;ul 8ilQ in tere st ol'red to the neconstruction
}!'iIlJIlCe \)01'1.)01' it ion ullon bonU.s heretofore is;:;ued
pursu::mt to UrdirL..tlCe /91, the ill20l.lnt of such
indebtedness being ~.5~()()b "..! ,<:<rid t!',e issu:mcs
of revenue bonds with or wHhout interect coul,ons
3.S stated above.
POl' iw;uin~ revenue bOIlllS of said Ci t~, in the
SlUll 0~1J".f.4tJf!"f)() . for ~lle .0urpose <?f exr311d~ns,
rehQblllte.tln:..;, lJil)rOVillC, betterlnt';, repcJ.lr-
Inc; ~lIld erlui~:1-:1n,:; tIle 3e,l3.rd municipal electriccll
ut:U.ity cystem.
",-c:;uinst,.,issuin:..; revenue bonds of said City in t..he
SlUll ofjlO5q,~fJ{) ~ for tlle ]Ju!'}ose of e Xl.iQ nO. in::; ,
rehabilitatin,;, ir1IJrovin_', betterinG, re])3.irin:;
und e,.;uin,inC the >->Ql,mrd f<ll.Ulicipal electrical
utility system.
""ect ion I-,~. .....11 ,;Jrovis ions of tl"e h\'iiS of the United :Otates
of ..ii181'ica, the 'rerritory of .J..aska, ~...nd the ,::c,!Oe:r8.l ordinunc8s
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~
of tIDe City of -,e'dOl"d l'eClllE\tin~ elections and the CC.nVo.8S
of l'etl~l'ns shull covel'n tlle election to be held under the
,:JJ:ovisions hereof.
....ection ~c. If the ubove )roposition Co.r1'i08 e.t t:~e oaid
election the COillm.on Council vIill toke ull f;teIs necessary CG.'1d
1'0 per to i S8 ue ond 8 e 11 s aid bond sand d.C c;uire s&id ut ilit ies
d.ud facilities.
wection ~a. '1'llis ordinance sLG.ll be llosted on tLe bulletin
bOill'd of the Oi ty II all, "eward, ..1 C.S lea , 1'01' 0. }1eriod of ten
(10) cby8 )rior to clute of election.
i.;ection ~~II. '1'his ordinance 8110.11 take effect immediutely
U1Jon its passage and s.plJroval, an elller::;ency IlD.ving been decl3.l"ed.
1 asseu by the COIDIllon Council of the City of ""81'13.1'0., ...lus}:&., a:>1d
Cl]Jrroved by the Layor, all on this 2..3 day of ~../.ot./ ,
1949.
.~ttest ;
t?-rd ;r.~.
lhayor
lJ1t(A~~ ~J' c
Cl y g:;terk
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