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As an integral part of the plan for acquiring, constructing <br /> and installing such additions and improvements to and extensions of <br /> the water supply and distribution system of the city, it shall issue <br /> and sell its water revenue bonds in the total principal sum of <br /> 3,850,000. The exact date, form, terms, maturities and covenants <br /> of such bonds shall be as hereafter fixed by ordinance . <br /> Section 3 . The action of the City Council on July 24, 1957 <br /> authorizing a call for bids for approximately 14,000 feet of pipe to <br /> part of <br /> carry out/the above mentioned plan, and the action of the City <br /> Council on August 15, 1957 in accepting the bid of Beall Pipe and <br /> Tank Company of Portland, Oregon, to furnish said pipe (which bid <br /> was the best bid submitted), and in awarding the contract therefor <br /> to said company, are hereby in all respects ratified and confirmed. <br /> Section 4. It is hereby found and declared, because the <br /> present water supply and distribution system of the city is inadequate <br /> to supply the city, the industries therein, its inhabitants, and <br /> people living in the vicinity thereof with an adequate supply of <br /> water for domestic, industrial and fire protection purposes, that <br /> the public peace, safety and welfare are being endangered by such <br /> condition. <br /> It is hereby found necessary that the hereinbefore described <br /> additions and improvements to and extensions of such water system be <br /> acquired, constructed and installed as soon as possible in order to <br /> remove such danger to the public peace, safety and welfare . There- <br /> fore, an emergency is hereby declared to exist, and this ordinance <br /> is hereby declared to be in full force and effect from and after its <br /> passage, approval and publication as required by law. <br /> PASSED UNANIMOUSLY by the City Council of the City of <br /> -3- <br />