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HomeMy WebLinkAboutOrd1947-174 r ~ " it1 {' ~ L /l,.,~ J ORDINANOE NO. 174 An ordinance of the City of Seward calling a special election for the purpose of submitting to the qualified electors of the City of Seward the proposition: Shall the Oity of Seward refinance the Reconstruction Finance Oorporation debt of $81,360.00 now carrying a 4% interest rate and expand the generating plant and extend the distributing system of the minicipally owned electrical utility, and for such purposes issue general obligation bonds of the Oity of Seward in the sum of $171,360.00, maturing serially in from two to twenty years from date, and for the payment of said bonds pledge the full faith and credit of the City of S~ard and the revenue of said utility for the payment of principal and interest of said bonds, all as authori%ed by Act of Congress passed and approved May 28, 1936, Chap. 467,49 Stat. 1388, as amended June 14, 1937, Oh. 337,50 stat. 285, said bonds to be issued upon such terms and conditions and matuiity as may be ordained by the Council by subsequent ordinance. j' I BE IT ORDAINED by the Common Council of the City of Seward, ~laska, as follows: SEOTION I. Pursuant to Act of Congress pased and approved May 28, 1936, Ch. 467,49 Stat. 1388, as amended JUOe 14, 1937, Oh. 337,Si 50 Stat. 258, whereby municipal corporations in Alaska are permitted to incur bonded indebtedness to an amount not exceed- ing 10% of the aggrega.. tazable value of all real and personal property within the corporate limits, a special election is hereby called to be held in the City of Seward, Alaska on the 14th day of . November, 1947, under the provisions of said Act and pursuant to the laws of the Territory of Alaska, and the ordinances of the City of Seward. SEOTION II. There shall be submitted to the qualified electors of said City, authorized to vote as herein~..r provided, the following proposition: Shall the Oity of Seward refinance the ~econstruction Finance Oorporation debt of $81,360000 now carrying a 4% interest rate and expand the generating plant and extend the distributing system of the municipally owned electrical utility, and for such purposes .issue general obligation bonds of the Oity of Seward in the sum of $171,360.00, maturing serially in from two to twenty years f rom date, and for the payment of said bonds pledge the full faith and credit of the City of Seward and the revenue of said utility for the payment of principal and interest of said bonds, all as authorized by Act of Congress passed and approved May 28, 1936, Ohap. 467, 49 Stat. 1388, as amended June 14, 1937, Oh. 337, 50 Stat. 285, said bonds to be issued upon such terms and conditions Bhd maturity as may be ordained by the Council by subsequent ordinance. SEOTION III. All persons residing within the corporate limits of the City of Seward, whose names appear on the last tax assess- ments roll or record of said municipality for the purpose of ~- >> municipal taxation shall be quAlified to vote at said election, Persons whose names do not appear on said tax roll shall not be qualified to vote. X.x No special registration for this election prmor to the date thereof shall be required of any qualified elector, but the Oity Clerk of the Oity of Seward shall prepare an alphabetical list of all persons whose names appear on the lest tax boll of said City and all persons who vote at said election whoe names appear on said tax rolls, shall sign an affidavit setting forth their qualifications end shall register at the time of receiving his or her ballot. SECTION IV. The polling place for the xi. said election shall be at the City Hall, in the said Ci ty of Seward, and the polls shall be open from 8:00 A.M. of the said election day until 7:00 P.M. of said day. SECTION V. The City Council hereby appoints B. E. Ohamberlain, -/~ r- A. F. Ras.ussen, and Norma Thurston as Judges, and Mirian V. Painter and Alice Lorang as clerks to conduct said election at the City Hall of Seward, Alaska. SEOTION VI. Notice of said election shall be given by posting a written notice thereof on the bullet~n board in the City Hall in said City, at the Post Office of said City, and at the Office of the Alaska Railroad Dock in smid City, all of which places are hereby found and dee[ared <to be conspicuous places within the corporate limits of said City. Said n~tice of election shall be posted at said designated places no less than twenty (20) deys prior to said election. SEOTION VLL. Said notice shall be signed by the Mayor of said City and attested by the City Clerk, and shall be in substantially the foll,.ing form: NOTIOE OF SPEOIAL ELEOTION A special election will be held in the City of Seward, Alaska on the 14th day of November, 1947, fur tne purvose of submitting to the qulaified electors of said Oity, whose names appear on the 'last tax roll of record of said City for purposes of municipal taxation, the following question: Shall the City of Seward refinance the ~econstruction finance CorJpration debt of $81,360.00 now aarrying a 4% interest rate and expand the generating plant and extend the distributing system of the municipally owned electrical utility and for such purposes issue general akkilati.. obligation bonds of the City of Seward in the sum of $171,360.00. maturing serially in f rom two to twenty years from date, and for the payment of said bonds pledge the full faith and credit of the City of ....eward and the revenue of said t utility for the payment of principal and interest of said bonds, all as authorized by Act of Congress passed and approved May 28, 1936, Ohap. 467, 49 Stat. 1388. as amended June 14, 1937, Oh. 337, 50 Stat. 285, sald bonds to be issued upon such terms and conditions and maturity as may be ordained by the Oouncil by subsequent ordinance. The polling place will be at the Oity Hall in the City of Seward, Alaska and the polls will be open. from 8:00 A.M. until 7:00P.M. of said day. Those persons who are citizens of the United States over the age of twenty-one years, who are bona fide residents of the ~erritory o~ Alaska, and who have been such residents continuously during the entire year immediately preceeding the election, and who have been such residents continuously for thirty days next preceed- ing the election .kSiiK within the copporate limits of the City of Seward, who are able to read the Constitution of the United States in English langua!e, and to write the English language, and whose names appear on the last tax roll of record of the City of Seward for purposes of municipal taxation, shall be qualified to vote at said election. No special registration for this election prior to the date thereof shall be required but provision shall be made for registra- tion of each voter at the time of receiving his or her ballot. If 65% or more of the voters at said special election shall cast their votes in favor of refinancing the Aeconstruction Finance Oorporation debt Of $81,360.00 and expanding the generating plant and extending the distrabuting system of the municipally owned electrical Jla.t utility,and shall by such vote, authorize the issuance of $171,360.00, in general obligation bonds of the Oity of Seward, then the Oouncil of said City proposes to issue general obligation bonds in the sum of $171, 360.00, secured by the pledging of revenues of said utility in the total principal sum of $171,360.00 or such part thereolfas the City Council of said City of Seward, may deem necessary to complete the expansion of the generating plant and distribution system of the municipally owned electrical utility,. Interest upon said bonds shall not exceed 3t% per annum, said bonds shall mature serially from two to twenty years from date, and the issuance thereof shall in all respects conform with general law and with the ordinances of the City of ueward. 2 r ~.~ '. ~. f This notice is given pursuant to an Act of Congress passed and . apprvved May 28, 1936, Ch. 467, 49 Stat. 1388, as amended June 14, 1937, Ch. 337, 50 Stat. 258, and to Ordinance No.174 of the Oity of Seward, Alaska --- Signed C. P. Keating Mayor Attest: Thos. E. Hnwell Oity Clerk. SEOTION VIII. The form of the ballot shall consist of the aax. statement of the ~uestion set forth in Section II, of this ordinance, with the addition of the following: "For refinanceing the Recontruction Finance Corporation debt of $81,360.00 and expanding the generating plant and extending the distribution system of the municipally owned electrical utility, and the issuance of general obligation bonds as aata stated above" " "Against refinancing the Reconstruction Finance Corporation debt of $81,360000 and expanding the generating plant and extending the distribution system of the municipally owned electrical utility and the issuance of general obligation bonds as stated above" SEOTION IX All provisions of the laws of the United States of America, and of the Territory of Alaska, and the general ordinances of the Oity of Seward, relating to registration of voters the manner of conducting elections, and the canvass as otherwise specifically provided herein, govern the election to be held pursuant hereto. SEOTION X.xlfxa1tRaEx.Exallx.fxxa1.x~ If the a..xa above proposition canTies at the said election the Oommon Oouncil will take all steps necessary and proper to issue a~d sell said bonds and acquire said utilities and facilities. SEOTION XI.This ordinance shall be posted on the buttetin board of the Oity Hall, Se..ra, Alaska, for a period of twenty (20) days prior to date of Election. SEOTION XII. This ordinance shall take effect immediately upon its passage and a pproval, an emergency having been declared90 Passed by the Oommon Council of the Uity of bewerd, Alaska, and approved by the Mayor, all on this 22nd day of October, 1947. Signed O. p. Keating Me yo I' Att..t~~ Ci ty 01 uk. C' ~