Ordinance 656-80 - Laserfiche WebLink

P5(-AORDINANCE NO. (p5(0- AN N ORDINANCE of the City of Everett, Washington, providing for the issuance and sale of Golf Course revenue warrants to pay part of the cost of certain additions and improvements to the Golf Courses of the City; creating a special warrant fund; providing the form and terms of said warrants and for the dis- position of the proceeds of their sale. WHEREAS, by Ordinance No. 440-77 passed March 9, 1977 , as amended by Ordinance No. 511-78 passed April 19, 1978 , Ordinance No. 521-78 passed January 14, 1978 and Ordinance No. 648-79 passed December 5, 1979 , (the "Plan Ordinances") the City Council of the City of Everett, Washington (the "City") , approved the Walter E. Hall Memorial and Legion Memorial Golf Course Irriga- tion Report (herein called the "Plan") ; and WHEREAS, by such Ordinances, the Council of the City has authorized and approved the acquisition, installation and con- struction of certain specified improvements to the irrigation systems of the City Golf Courses as provided in the Plan (herein called the "Project") ; and WHEREAS , R.C.W. 35. 41. 050 provides that cities and towns are authorized to issue revenue warrants to provide financing for such purposes; and WHEREAS, in order to repay outstanding interim financing for the cost of acquiring, constructing and installing the Project, and to pay part of the costs of the Project, it is found to be in the best interest of the City and its inhabitants to issue and sell its golf course revenue warrants in an aggregate amount of $128, 089. 47. NOW, THEREFORE, BE IT ORDAINED by the City of Everett, Wash- ington, as follows : SECTION I As used in this ordinance the following words shall have the following meanings : A. The word "City" means the City of Everett, Washington.