Ordinance 842-82 - Laserfiche WebLink

ORDINANCE NO. e-fa-�.� AN ORDINANCE creating a special construction fund entitled "1982 Senior Housing Construction Fund No. 353" and authorizing the development, acquisition, construction and equipping of housing for low-income elderly persons. WHEREAS, there exists a severe shortage of safe, sanitary and affordable housing in the City for low-income elderly persons; and WHEREAS, the Housing Authority of the City of Everett needs additional resources to provide such housing through develop- ment, acquisition, construction and equipping of additional housing; and WHEREAS , the Housing Cooperation Law (Chapter 35 . 83 RCW) authorizes the city to supply financial assistance to the Everett Housing Authority, and WHEREAS, to provide such assistance it is deemed necessary and advisable that the city issue its unlimited tax levy general obligation bonds in the principal amount of not to exceed $2 , 000 , 000; and WHEREAS , the Constitution and laws of the State of Washington require that the question of whether or not the city may issue unlimited tax levy general obligation bonds for such purpose must be submitted to the qualified electors of the city for their ratification or rejection, and WHEREAS , on December 16 , 1981, the City Council of the City of Everett approved an ordinance calling for a general elec- tion to determine said issue; and WHEREAS , the qualified electors of the city voted approval on this bond issue; NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: Section 1: A special construction fund is hereby established as Fund No. 353 entitled "1982 Senior Housing Construction Fund" to accomplish the actions authorized in subsequent sections of this ordinance. Section 2 : Authorization is hereby given to provide for the development, acquisition, construction and equipping of housing for low-income elderly persons. These functions will be carried out by the Everett Housing Authority.