HomeMy WebLinkAboutOrd1943-158
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ORDINANCE NO. 158
AN ORDINANCE of the Town of Seward, Alaska, providing for
the constructing and equipping of a Municipal Building in said town,
providing for the issuance of general bonds in the sum of $50,000 to
payLthe cost thereof, and calling 8 special election for the purpose
of submitting to the qualified electors of said town the question of
the issuance of said bonds, and repealing all adinancel in conflict
herewith.
BE IT ORDAINED BY THE COMMON COUNCIL OF THE TOWN OF S~iARD,
TERRITORY OF ALASKA, ~S FOLLOWS:
Section 1.
That the Town of Seward does hereby authorize end
direct the construction and equipment of a municipal building in I
said town at a cost not exceeding $50,000, which amount is hereby II
found and declared to be the estimated cost of said municipal build-
ing, inclumng the equipment thereof.
Section 2.
That in order to pay for the construction and
equipment of said municipal building, the Town of Seward shall issue
and sell its general bonds in the principal sum of $50,000, said
banda to be in denominations not exceeding $1,000 each and bear
interest at a rate not exceeding
5 per cent per annum, payable
semi-annually end maturing in annual installments of principal of
$2,500.00 each, the first installment to mature five years from date
of bonds, and the last installment to mature twentj-four years from
date of bonds, the Town of Seward reserving the right to pay all
such bonds in their numerical order upon any interest payment date,
at the rate of $4,000 of principal each year from and after the ex-
piration of five years from date of issue.
Section 3. That a special election is hereby called to be
\held in the said Town of Seward on Tuesday, the 3rd day of August,
1943, between the hours of eight o'clock, A. M. and seven o'clock,
P. W., the polling place to be the Town Hall of said town, for the
purpose of submitting to the qualified electors of said Town of
Seward, whose names appear on the last assessment roll of said town
for municipal taxation, the question of the issuance of said general
bonds; that said election shall be conducted in accordance with the
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I!requirements of the laws governing elections in said Town of Seward,
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1 Section 4. The ballot used at said election shall contain
the following statement of the proposition to be submitted to the
voters:
Shall the Town of Seward, Alaska erect and equip a Municipal
Building in said town and in payment thereof issue and sell
its general bonds in a sum not exceeding $50,000, bearing
interest at a rate not exceeding 6 per cent per annum pay-
able semi-annually and maturing in equal annual installments
of $2500.00 each, the first installment to mature five years
from the date of said bonds and the last installment twenty-
four years from date thereof, all as more fully set forth in
Ordinance No. 168 of said Town of Seward.
. . .
For bonds
. . .
Against bonds
. . .
. , .
Section 5. That the following named persons are hereby desig-
ated and appointed as officers of said election to conduct the same.
Inspector: Mrs. Alice Loran~
Judges
Clerks
:B.Chamberlain. Harry
: )(1r~m Painter Nora
d
ani
Section 6.
That the Municipal Clerk be and he is hereby BU-
thor1zed and directed to publish notice of such Special Election in
fhe Anchorage Daily Times, the nearest newspaper ~ general circula-
tion published and printed near said Town of Seward, once a week for
period of five weeks immediately preceding the date of said electio .
Section 7.
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Passed unanimously under suspension of the rules by the Common I
That all ordinances in conflict herewith are
ereby repealed.
Council and approved this 28th
day of June, 1943.
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