122RT HF 9-22-55 5
RESOLUTION NO./A JL
A RESOLUTION of the City Council of the City of
Moses Lake,Washington, authorizing the re
demption of $215,000 par value of outstanding
water and sewer revenue coupon warrants of
the city.
WHEREAS,the City of Moses Lake now has outstanding its
water and sewer revenue coupon warrants dated May 1,1952,in the
principal sum of $115,000,which warrants were issued pursuant to
Ordinance No.175 of the city;and
WHEREAS,the city also has outstanding another issue of
such warrants dated May 1,1953,in the principal sum of $100,000,
which warrants were issued pursuant to Ordinances No.189 and No.
199 of the city;and
WHEREAS, all of said warrants bear interest payable semi
annually on the first days of May and November of each year,and
said Ordinances No. 175 and No.199 provide that said warrants may
be called for redemption on any interest payment date by one pub
lication of a notice of such redemption in the official city news
paper not more than forty nor less than thirty days prior to such
redemption date and by mailing a like notice at the same time to
Wm. P.Harper &Son &Company at their place of business in Seattle,
Washington;and
WHEREAS,on January 25,1955,Ordinance No. 251 of the
city was passed,approved and published in the manner provided by
law,which ordinance authorized the acquisition,construction and
installation of certain additions and improvements to and extensions
of the combined water and sewerage system of the city,authorized
^J
the issuance of water and sewer revenue bonds in the total principal
sum of $635,000 to pay the cost thereof,and further provided that
at the time of the issuance of said bonds the city would refund said
outstanding water and sewer revenue coupon warrants by the issuance
of additional water and sewer revenue bonds;and
WHEREAS, it is the intention of the city that it will soon
issue and sell its water and sewer revenue bonds so authorized in
said Ordinance No. 251 to provide the funds necessary to acquire,
construct and install said additions,improvements and extensions;
and
WHEREAS, it is deemed necessary and advisable that said
outstanding water and sewer revenue coupon warrants be called for
redemption on November 1,1955*and that the money necessary to
redeem the same be provided by the issuance of $215*000 of water
and sewer revenue bonds of the city,which will be combined with
the bonds to be issued to pay the cost of said additions,improve
ments and extensions;
NOW,THEREFORE,BE IT RESOLVED by the Council of the City
of Moses Lake,Washington,as follows:
Section 1.That the following described water and sewer
revenue coupon warrants of the city now outstanding shall be called
for redemption and payment on November 1, 1955:
Int.
Date of Issue Warrant Nos.Amount Rate Maturity
May 1,1952 1-U5 $115,000 k%May 1,1957
May 1,1953 1-100 100,000 4#May 1,1958.
2.
V-*
Section 2. The City Clerk is hereby authorized and
directed to publish a notice of such intended redemption in the
next issue of the official city newspaper and to mail a like
notice at the time of such publication to Wm. P.Harper &Son
&Company at its place of business in the Harper Building,1504
Third Avenue,Seattle,Washington.
PASSED by the Council of the City of Moses Lake and
approved by its Mayor at a regular meeting of said Council held
September 27,1955.
CITY OP MOSES LAKE,WASHINGTON
By
Mayor
ATTEST:
City Clerk
OF^PRESTON,THORGRlMgON &HOROWITZ
Special Bond Counsel for the City
3.