ORD 69-11 AMENDING ORD 69-08f-//
Sections 1 and B of Ordinance No. ,
1969.
The Town Council of the Town of Winslow does ordain:
Section 1. That Section I of Ordinance No. ~ ~-f of the
Town of Winslow is hereby amended to read as follows:
Section 1. That there shall now be issued and
sold $25,000 principal amount of limited tax levy
general obligation bonds of the Town (hereinafter called
the "bonds") for the purpose of providing additional
funds necessary to pay part of the cost of acquiring,
constructing and equipping a combination Town Hall and
Fire Station building for the Town, all as more specifically
authorized and provided in Ordinance No. 68-20 of the
Town passed and approved September 16, 1968, and
approved by the voters November 5, 1968, and for con-
struction of an Equipment Shed to house town equipment,
said shed to be located on property belonging to the
Town. The bonds shall be dated July l, 1969, shall be
in the denomination of $1,000 each, shall bear interest
at a rate not to exceed 6% per annum, payable on the
first day of July, 1970, and semiannually on the
first days of each January and July thereafter, as
evidenced by coupons to be attached thereto, shall be
payable both principal and interest at the office of the
Town Treasurer in Winslow, Washington, and shall be
numbered and mature in order of their number as follows:
-1-
| !
Bond Nos. Maturity Date Amount
I July l, 1971 $1,000
2 July l, 1972 1,000
3 July l, 1973 1,000
4 July 1, 1974 1,000
5 July l, 1975 1,000
6 July 1, 1976 1,000
7 July 1, 1977 1,000
8 July 1, 1978 1,000
9 July 1, 1979 1,000
10 July 1, 1980 1,000
11 July 1, 1981 1,000
12 July 1, 1982 1,000
13 July 1, 1983 1,000
14-15 July 1, 1984 2,000
16-17 July l, 1985 2,000
18-19 July l, 1986 2,000
20-21 July 1, 1987 2,000
22-23 July 1, 1988 2,000
24-25 July 1, 1989 2,000
Section 2. That Section 3 of Ordinance No. ~ F'l of the
Town of Winslow is hereby amended to read as follows:
Section 3. The bonds shall be in substantially the
following form:
UNITED STATES OF AMERICA
$1,000
STATE OF WASHINGTON
TOWN OF WINSLOW
LIMITED LEVY GENERAL OBLIGATION BOND, 1969
The Town of Winslow, a municipal corporation of
the State of Washington, acknowledges itself to owe
and for value received hereby promises to pay to
bearer on the first day of July, 19 , the
principal sum of
ONE THOUSAND DOLLARS
together with interest thereon at the rate of
per annum payable on the first day of July, 1970 and
-2-
| i
semiannually on the first days of each January and
July thereafter upon presentation and surrender of the
attached interest coupons as they severally become
due, or until such principal sum shall have been paid
or duly provided for.
Both principal of and interest on this bond are
payable in lawful money of the United States of America
at the office of the Town Treasurer in Winslow,
Washington.
The Town of Winslow has reserved the right to
redeem any or all of the bonds of this issue in inverse
numerical order on any interest payment date at par
and accrued interest.
This bond is one of an issue of limited levy
general obligation bonds of the Town of Winslow of
like date, amount and tenor except as to number,
interest rate and date of maturity, in the aggregate
principal amount of $25,000 and is issued pursuant
to Ordinance No. (hereinafter called the "bond
ordinance") for the purpose of providing funds necessary
to pay part of the cost of acquiring, constructing and
equipping a combination Town Hall and Fire Station
building for the Town, and for construction of an
Equipment Shed for the Town, all as provided in said
bond ordinance.
The Town of Winslow has irrevocably covenanted
by the bond ordinance that it will include in its
annual budget and levy taxes annually upon all the
taxable property within the Town within and as part
-3-
of the tax levy permitted to towns without a vote of
the people, amounts sufficient to pay the principal of
and interest on said bonds as the same shall become due.
For the annual levy and collection of such taxes and
for the prompt payment of said principal and interest,
the full faith, credit and resources of the Town are
hereby irrevocably pledged.
IN WITNESS WHEREOF, the Town of Winslow, Washington
has caused this bond to be signed by its Mayor, to be
attested by its Town Clerk, the official seal of the
Town to be impressed hereon, and the attached interest
coupons to be signed with the facsimile signatures of
said officials as of this 1st day of July, 1969.
ATTEST:
Mayor
Town Clerk
The interest coupons to be attached to the bonds shall
be in substantially the following form:
No. $
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 shown hereon in lawful money of the United
States of America, said sum being the semiannual
interest due that date on its limited levy general
-4-
| I
obligation bond dated July l, 1969 and numbered
TOWN OF WINSLOW, WASHINGTON
By
Mayor
ATTEST:
Town Clerk
Section 3- This Ordinance will be in effect from and after
its passage and publication as provided by law. In all other
respects Ordinance No.~ ~- ~ passed April 7, 1969, is hereby
confirmed and approved except as herein amended.
PASSED by the Town Council, signed and approved at a
regular meeting of said council held this · ~ day of May,~ 1969.
ATTEST:
APPROVED AS TO FORM:
Town Attorney
ntroduced and read the first time:
Passed: ~JJy /9//~ ~/
Published:
-5-
! I
NOTICE OF BOND SALE
TOWN OF WINSLOW, WASHINGTON
LIMITED LEVY GENERAL OBLIGATION BONDS, 1969
$25,000
NOTICE IS HEREBY GIVEN that the Town of Winslow,
J,~ tx
Washington proposes to issue under date of g~m~e 1, 1969,
its limited levy general obligation bonds in the principal
sum of $25,000.
The bonds shall be in the denomination of $1,000
each, will be numbered from 1 to 25 inclusive, shall bear
interest at a rate not to exceed 6% per annum, payable on
the first day of ~, 1970, and semiannually on the first
days of each Dece~er and ~une thereafter, as evidenced by
coupons to be attached thereto, shall be payable both principal
and interest at the office of the Town Treasurer in Winslow,
Washington, and shall be numbered and mature in order of
their number as follows:
Bond Nos. Maturity Date Amount
1 ~lv~ 1, 1971 $1,000
2 ~'v~_~un~..~ 1, 1972 1,000
3 J,~l~ 1, 1973 1,000
4 I~,.~%~rre. 1, 1974 1,000
5 ~-__~.._ 1, 1975 1,000
6 3~.IlyJ~;;~ l, 1976 1,0O0
7 J~,~yju~e 1, 1977 1,000
8 ~y~ 1, 1978 1,000
9 y~_~urre_ 1, 1979 1,000
10 ~_~une.._ 1, 1980 1,000
11 ~.~ 1, 1981 1,000
12 ~_~:rrs..~ 1, 1982 1,000
13 I~J~.~e 1, 1983 1,000
14-15 y~_~nc 1, 1984 2,000
16-17 ~.~ne 1, 1985 2,000
18-19 ~_~e 1, 1986 2,000
20-21 ~.~ 1, 1987 2,000
22-23 I~ 1988 2,000
1,
24-25 ~I~nc 1, 1989 2,000
The Town reserves the right to redeem any or all of the bonds
of this issue in inverse numerical order on any interest payment
date at par and accrued interest.
! I
The Town, as authorized by law and ordinances of the
Town Council duly and regularly adopted, has irrevocably
pledged that it will include in its annual budget and levy
taxes annually upon all the taxable property within the Town
within and as a part of the tax levy permitted to towns without
a vote of the people amounts sufficient to pay the principal
of and interest on the bonds of this issue as the same shall
become due.
NOTICE IS FURTHER GIVEN that sealed bids for the purchase
of said bonds will be received by the Town Clerk at the Council
Chambers in the Town Hall, Winslow, Washington, until ~,'l~ O
o'clock P. M., Pacific Daylight Time, on the
at which ti e , nd considered by
the Council.
Each bid submitted shall provide for payment of accpued
interest to date of delivery, and shall specify either (a) the
lowest rate or rates of interest and premium above par at which
the bidder will purchase said bonds, or (b) the lowest rate or
rates of interest at which the bidder will purchase said bonds
at par.
One or more rates of interest may be fixed for the bonds,
which rate or rates must be in a multiple of 1/8 or 1/10 of 1%,
evidenced by a single coupon for each semiannual interest payment.
No coupon rate may exceed any other coupon rate by more than
1% and no rate may exceed 6%. All bonds maturing on the same
date must bear interest at the same rate.
It is requested that each bidder state the total interest
cost of his bid over the life of the bonds, less the premium,
if any, and the net effective interest rate of such bid.
All bids shall be sealed and, except that of the State
of Washington, shall be accompanied by a deposit of 5% of the
-2-
| I
amount of the bid either in cash.on~.by/(:~cashier's or certified
c~eck made payable4toi~th~4~~~;~lWhich amount oP '
t
che~c~.Wi!i~ ~"t~'~d~l to~ th~'~b~dder~r~f ~the bid Is not accep ed.
If the successful bidder shall fall:'0~ne~lect to ~complete the
purchase of said bonds days fr'om the
aCcept~ce ~.of~/his 'b~d, the ~t~~ so~ deposited shall be
forfeited to ~the Town. ~..' ~.~
The Town reserves. the .right to .reJect ~y ~d all bids
received, ~d ~to-waive '~y irregularities. therein.
The'f opinion' of Preston,~.' Thorgrimson, Horowit~, Starin
& Ellis.~ bond co~sel ofYSeattle.'~Washington, approving the
legality of~the~issu~ce 'of these .bonds. Will be furnished the
successful bidder at. ~the~expense o~ the Town.
The customary signatu~e~id~'ntification ~d nonlitigatlon
certificate'will be included in ~the~closing documents.
Further. lnformation~may'~be/obtained upon request made
to the ~dersi~ed. .:~
FRANCIS~H. SAUL
· ToWn~ Clerk