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• <br /> • <br /> WHEREAS , to provide financing for such library improvements <br /> it is deemed necessary and advisable that the City levy regular <br /> property taxes in excess of the 106% limitation for 20 years to <br /> provide the principal amount of $6 , 440 , 000 plus interest thereon <br /> for such purposes; and <br /> WHEREAS, the public health and safety requires that the City <br /> acquire land, construct and purchase equipment and furnishings to <br /> relocate three fire stations in the southern part of the City and <br /> build training facilities for the Fire Department; and <br /> WHEREAS, to provide financing for such new Fire Department <br /> facilities, it is deemed necessary and advisable that the City <br /> issue and sell its unlimited tax levy general obligation bonds in <br /> the principal amount of $4 , 142 , 000; and <br /> WHEREAS, the City has developed a parks and recreation <br /> improvement plan calling for the acquisition, improvement and <br /> development of various recreation facilities throughout the City <br /> which plan requires funding; and <br /> WHEREAS , to provide financing for such park and recreation <br /> facilities, it is deemed necessary and advisable that the City <br /> issue and sell its unlimited tax levy general obligation bonds in <br /> the principal amount of $8 , 579 ,000 ; and <br /> WHEREAS, RCW 84 .55 .050 permits the question of whether or <br /> not the City may levy regular property taxes in excess of the <br /> 106% levy limitation for a limited purpose and term to be submit- <br /> ted to the qualified electors of the City for their ratification <br /> or rejection; and <br /> WHEREAS, the Constitution and laws of the State of <br /> Washington provide that the question of whether or not unlimited <br /> tax general obligation bonds may be issued and sold for capital <br /> purposes must be submitted to the qualified electors of the City <br /> for their ratification or rejection; <br /> JAR79/29 -2- <br />