Ordinance 547-78 - Laserfiche WebLink

• 0 CITY OF EVERETT, WASHINGTON ORDINANCE NO. 5-1/ 7- 7Y AN ORDINANCE of the City of Everett, Washington, providing for the acquisition of and minor improve- ments to a building to be used as a public histori- cal museum and for other museum capital purposes; declaring the estimated cost thereof as nearly as may be; providing for the borrowing of not to exceed $500, 000 and issuing and selling negotiable general obligation bonds to pay the cost and ex- pense thereof, such bonds to be payable from annual tax levies to be made without limitation as to rate or amount; declaring an emergency; providing for the submission of the proposition of incurring such indebtedness and issuing such bonds to the qualified voters of the City at a special election to be held on November 7, 1978. WHEREAS, the City is in urgent need of funds with which to acquire and improve a building to be used as a public historical museum and for other museum capital purposes, and the City does not have available sufficient funds to meet the estimated cost thereof; NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: Section 1 . The City, upon ratification of the proposition by the qualified electors of the City as provided in Section 5 of this ordinance, shall by ordinance order the acquisition and minor improvement of a building to be used as a public historical museum and carrying out other museum capital purposes, as the City Council may determine, the estimated costs of which are declared to be as nearly as may be $500, 000. The costs of engineering , architectural , planning , financial , legal and other services lawfully incurred incident to the acquisition and development of the museum shall be appropriate costs of that project. Section 2. The City shall borrow not to exceed $500, 000 on the credit of the City and issue and sell its negotiable general obligation bonds therefor for strictly municipal capital purposes,