Ordinance 1452 - Laserfiche WebLink

said extension, and provided for the issuance of bonds in a sum not to exceed sixty-five thousand ($65,000) dollars to secure said loan, said bonds to be an obligation solely against fifty per cent of the gross revenues or receipts of said city dock property and wharf, and said bonds to be sold at not less than par and accrued interest, and to bear interest at a rate not to exceed six per cent per annum, and WHEREAS , as shown by Resolution No. 1740 of the city of Everett the city council of Everett' did canvass the returns of said election relating to said ordinance and found that said ordinan- ce was duly ratified by the qualified voters of said city voting at said election by a vote of 2989 for said ordinance and 854 agains-c said ordinance, NOW THEREFORE, THE CITY OF i VER TT DOES ORDAIN: Section 1: That a loan of not to exceed sixty-five thous- and (y65 ,000) dollars for the purpose of purchasing and taking over the improvements on that certain real estate owned by said city and known as the City Dock property, and for the purpose of defraying the cost of the construction of an extension to said city dock property, with the necessary buildings and equipment as authorized by Ordinance No. 1407 of Everett, passed May 13 , 1912 and approved May 14, 1912, and entitled "An ordinance providing for terminating the lease of the City 'Dock property heretofore made with Coleman & Fogarty and now held by the City Dock Company, a corporation, for the purchase and taking over of all the improve- ments on said property by said company or their assigns , for the construction of an extension of the wharf, together with additional buildings thereon, for the issuance of special negotiable bonds to raise revenue with which to take over and pay for said improvement and said new construction, together with all necessary engineering expense, creating a city dock fund, authorizing the service of the necessary notice on the lessees of said property, and submitting