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<br />Ii <br /> <br />RESOLUTION NO. 11] <br /> <br />WHEREAS, the Cit~, of Se,ofard, Alaska is desirous of continuing <br />ii construction of the electric transmission line in ccnnection with its <br />I! Crescent Lake Hydroelectric Project and. <br />! <br />! WHEREAS. it is neeecssary to sell revenue bonds pledging the <br />Iii. revenues of the City of S8ward Electric System as security therefore in <br />order to finance that portion Qf said transmission line which can feasi- <br />II bly be constructed during 1957 , and, <br /> <br />ii <br />I' <br />'I <br /> <br />Ii <br /> <br />WHEREAS. under agreement dated July 28, 1955. Grande & Com)any <br />of Seattle. Washington have heretofore bought similar bonds to finance <br />previous construction and, <br /> <br />WHEREAS, said Grande & Company now <br />agreement to provide that they will purchase <br />Seward now finds it necessary to sell and. <br />II <br />Ii <br /> <br />propose to extend the said <br />the bonds which the Ci t.\' of <br /> <br />offered to <br />thereunder <br />subject to <br /> <br />WHEREAS. said Grande & Compan~' have under date of !'by 3. 1957 <br />amend their said agreement to January~, 1958 and further <br />propose to purchase up to $400,000 of said bonds to be issued <br />the terms of said agreement as amended. <br /> <br />NOW THEREFORE BE IT ?ESOLVED and it is hereby resolved that the <br />Mayor be and he is hereby authorized to accept the proposal of Grande & <br />Company dated May 3. 1957 and to execute the same on behalf of the City <br />of Seward. <br /> <br />AN EMERGENCY IS DECLARED to exist and the rules governing the <br />passage of resolutions are hereby suspended. <br /> <br />PASSED AND APPROVED this <br /> <br />21+ <br /> <br />day of May, 1957 <br /> <br />~;'. <br />~ <br /> <br /><. /~~ /~:I , <br />MAYOR . <br /> <br />;', 'f <br /> <br />, <br />,i ATI'EST: <br /> <br />~~~alk <br /> <br />f: <br /> <br />, <br />': <br /> <br />i' <br />i <br />