Laserfiche WebLink
• <br /> CITY OF EVERETT, WASHINGTON <br /> ORDINANCE NO . 2x26 1� <br /> AN ORDINANCE relating to housing for the low-income <br /> elderly; providing for the submission to the quali- <br /> fied electors of the City, at a special election to <br /> be held therein on February 2 , 1982, of a proposition <br /> authorizing the City to issue its general obligation <br /> bonds in the principal amount of not to exceed <br /> $2 ,000 ,000 for the purpose of providing housing for <br /> low-income elderly persons in the City, by providing <br /> the Housing Authority of the City of Everett with <br /> part of the capital funds for the development of such <br /> housing under the Housing Cooperation Law; authorizing <br /> an agreement with the Housing Authority of the City <br /> of Everett for such purpose; providing for creation <br /> of a housing development fund and a bond redemption <br /> fund; providing for the annual levy and the collec- <br /> tion of taxes to pay the principal of and interest on <br /> the bonds; and authorizing interim financing . <br /> WHEREAS, there exists a severe shortage of safe, sanitary <br /> and affordable housing in the City for low-income elderly persons; <br /> and <br /> WHEREAS , the Housing Authority of the City of Everett needs <br /> additional resources to provide such housing through development, <br /> acquisition, construction and equipping of additional housing; and <br /> WHEREAS, the Housing Cooperation Law (Chapter 35 .83 RCW) <br /> authorizes the City to supply financial assistance to the Everett <br /> Housing Authority; and <br /> WHEREAS , to provide such assistance it is deemed necessary <br /> and advisable that the City issue its unlimited tax levy general <br /> obligation bonds in the principal amount of not to exceed $2 ,000 ,000 ; <br /> and <br /> WHEREAS , the Constitution and laws of the State of Washington <br /> require that the question of whether or not the City may issue <br /> unlimited tax levy general obligation bonds for such purpose must be <br /> submitted to the qualified electors of the City for their ratifica- <br /> tion or rejection; NOW, THEREFORE, <br /> THE CITY OF EVERETT DOES ORDAIN : <br /> Section 1 . As used in this ordinance, the words herein- <br /> after defined shall have the meaning set forth in this section: <br />