ORD 53-25 CONSTRUCTION AND INSTALLATION OF SANITARY SEWAGE SYSTEMRT ~F 8-18-53 7
AN ORDINANCE of the Town of Winslow, Washington,
providing for the construction and installation
of a certain extension to the sanitary sewage
disposal system of the town, declaring the
estimated cost thereof, providing for the
issuance of sewer revenue warrants of the
town in the total principal sum of $3,000
to pay the same, providing the date, form,
terms and maturities of said warrants, creating
a special fund for the payment of the principal
and interest thereof, and declaring an emergency.
WHEREAS, the Town of Winslow, Washington, is now engaged in
the construction of a sanitary sewage disposal system of the town as
provided and described in Ordinance No. 23 thereof; and
WHEREAS, it is deemed necessary and advisable that an ex-
tension to such system be installed on Winslow Way and that the town
issue its sewer revenue warrants in the principal sum of $3,000 to pay
the cost thereof;
NOW, TEEFOE, BE IT 0RDAINED by the Council of the Town of
Winslow, Washington as follows:
Section 1. The following described plan for an extension to
the sanitary sewage disposal system of the town is hereby specified and
adopted:
The town shall construct and install an 8-inch sewer
line from North Madison Street easterly along Winslow Way
a distance of approximately 500 feet, with all necessary
manholes, wyes and appurtenances.
Section 2. The estimated cost of the construction and in-
stallation of the above described extension to the sanitary sewage
disposal system of the town is hereby declared to be, as near as may
~be, the sum of $3,000, which shall be paid from the sale of the sewer
revenue warrants of the town hereinafter authorized.
Section 3. That for the purpose of providing the funds nec-
essary to construct and install the above described extension to the
sanitary sewage disposal system of the town now being installed, the
town shall now issue its sewer revenue warrants in the total principal
sum of $3,000.
Said warrants shall be dated September l, 1953, shall be in
denominations of $500 each, shall be numbered from i to 6 inclusive,
shall bear interest at the rate of 4 1/2% per annum payable semi-
nnually on the first days of March and September of each year, and
shall m~ ture in order of their number as follows:
September l, 1954 $500 September l, 1957 $500
September l, 1955 500 September l, 1958 500
September l, 1956 500 September l, 1959 500-
Both principal and interest of said'~rm~J~shall be payable in
lawful money of the United States of America at the office of the Town
Treasurer in WinsloW, Washington, solely out of the special Warrant
Redemption Fund created by this ordinance.
Any or all of said warrants may be called for payment at par
in numerical order on any interest payment date on and after one year
--~rom date thereof. Notice of any such intended redemption shall be
given by one publication thereof in the official town newspaper not
more than forty nor less than thirty days prior to said redemption
date and by mailing a like notice at the same time to McLean & Company
at its place of business in Tacoma, Washington. Interest on any
warrant or warrants so called for redemption shall cease on such
redemption date.
Section 4. Said warrants shall be in substantially the
following form:
UNITED STATES OF AMERICA
$500
STATE OF WASHINGTON
TOWN OF WINSLOW
SEWER REVENUE WARRANT
1953
TO THE TOWN TREASURER OF WINSLOW, WASHINGTON:
On the first day of September, 19 .... , upon presentation,
pay to bearer in lawful money of the United States of America
the sum of
FIVE HUNDRED DOLLARS
together with interest thereon from date hereof until paid
at the rate of 4,% per annum payable on the first days of
March and September of each year, as evidencedby and upon
presentation and surrender of the attached interest coupons
as they severally become due.
The warrants of this issue may be called for payment
prior to maturity at par in numerical order on any interest
payment date on and after one year from date hereof.
Both principal and interest of this warrant are payable
solely out of the special fund known as "Winslow 1953 Sewer
Revenue Warrant Redemption Fund" created by Ordinance No. ~'
of the town.
1953.
Dated at Winslow, Washington, this first day of September,
TOWN OF WINSLOW, WASHINGTON
By
Mayor
ATTEST:
Town Clerk
The interest coupons attached to said warrants shall be in sub-
stantially the following form:
$11.25
On the first day of , 19 , the Town of
Winslow, Washington, will pay to bearer at the office of
the Town Treasurer in Winslow the sum of ELEVEN AND
25/100 DOLLAR8 in lawful money of the United States of
America from the special fund of said town known as "Winslow
1953 Sewer Revenue Warrant Redemption Fund", said sum being
the semiannual interest due that day on its Sewer Revenue
Warrant dated September l, 1953, and numbered .
TOWN OF WINSLOW, WASHINGTON
By
Mayor
ATTEST:
Town Clerk
Section 5- Said warrants shall be executed on behalf of the
to~n by its Nayor and attested by the Town Clerk, with the seal ~the
to~m impressed thereon, and the interest coupons attached thereto shall
be executed with the facsimile signatures of said officials.
Section 6. That there be and is hereby created a special fund
of the town to be known as "Winslow 1953 Sewer Revenue Warrant Redemption
Fund", which fund is to be drawn upon for the sole purpose of paying the
principal of and interest on the sewer revenue warrants authorized herein.
From and after the date of issue of said warrants, and as long as any of
the same are outstanding and unpaid, the town treasurer shall set aside
and pay into said Warrant Redemption Fund out of the ~e~er Revenue Fund
of the toxm created by Ordinance No. 24, at least thirty days prior to
the respective dates on which the interest or principal and interest of
said warrants shall become due, amounts sufficient to pay such principal
and interest.
Said amounts so pledged are hereby declared to be a prior
lien and charge upon the money in said Sewer Revenue Fund superior to
all other charges of any kind or nature except the necessary cost of
maintenance and operation of said sewer system and except the charges
necessary to pay the principal and interest of the outstanding se~er
revenue bonds of the town issued under date of August l, 1953.
Section 7. The corporate authorities of the Town of Winslow
hereby declare, in fixing the amounts to be paid into said Warrant
Redemption Fund, that they have exercised due regard to the cost of
maintenance and operation of said sewer system and the charges nec-
essary for the payment of the principal and interest of the outstanding
sewer revenue bonds of the town issued under date of August l, 1953,
and that in their Judgment they have not obligated the town to set
~ side and pay into said Warrant Redemption Fund a greater amount or
proportion of the revenue of such sewer system than Will be available
over such cost of maintenance and operation and the charges necessary
to pay the principal and interest of such outstanding sewer revenue
bonds of the town.
Section 8. The Town of Winslow covenants and agrees with
the holder of each and every one of the warrants heroin authorized to
maintain said sanitary sewage disposal system in good condition and
repair, to operate the same in an efficient manner and at a reasonable
cost, and to establish, maintain and collect rates and charges for
~ewage disposal service that will provide sufficient revenue to produce
the gross revenue necessary to meet all the obligations of the town as
heroin recognized and set forth.
Section 9- The moneys derived from the sale of said warrants
shall be used solely for the purposes provided herein, and the proper
officials of the town are hereby authorized and directed to do every-
thing necessary for the execution, sale and delivery of said warrants
and for the prompt construction and installation of said extensLon to
the sanitary sewage disposal system of the town out of the proceeds of
the sale thereof.
Section lO. This ordinance is declared to be one necessary
for the immediate preservation of the public peace, property, health
and safety of the people of the Town of Winslow, Washington. An emer-
gency is hereby declared to exist, and this ordinance is hereby declared
to be in full force and effect from and after its passage, approval and
publication as provided by law.
PASSED by the Council of the Town of Winslow, ~ashington,
.nd approved by its Nayor at a regular meeting held on the /~ ~ day
TOWN OF WINSLOW, WASHINGTON
Nayor