ORD 71-07 CITY WATER SYSTEMORDINANCE
AN ORDINANCE of the City of Winslow, Washington,
providing for the acquisition, construction and
installation of certain additions and improvements
to the water system of the city, declaring the
estimated cost thereof, providing for the issuance
of water revenue warrants of the city in the total
principal sum of $22,000 to pay the same, providing
the date, form, terms and maturities of said warrants,
and creating a special fund for the payment of the
principal and interest thereof.
WHEREAS, the city now owns, maintains and operates a
water system as created by Ordinance No. 12 of the city and as
added to by subsequent improvements, which is in need of certain
additions, improvements and extensions in order to provide the
city, its inhabitants and people living in the vicinity thereof
with an adequate supply of potable water; and
WHEREAS, in order to pay part of the cost of such
necessary additions and improvements to and extensions of such
system it is deemed necessary that the city issue and sell its
water revenue warrants in the principal amount of $22,000;
NOW, THEREFORE, BE IT ORDAINED by the Council of the
City of Winslow, Washington, as follows:
Section 1. The following plan and system of additions
and improvements to and extensions of the water system of the
city is hereby proposed, specified and adopted, to wit:
A. The city shall acquire the following described property
for the purposes of drilling a well, and installing a pump and
connecting line:
That portion of the Southwest quarter of the Northwest
quarter of Section 27, Township 25 North, Range 2
East, W.M., described as follows:
Beginning at the West quarter corner of said Section
27, the true point of beginning; thence along the
West line of said Section 27, North 00°3'2'' West
169.39 feet; thence North 84°34'7'' East 226.13 feet;
thence South 0~3'2'' East 194.27 feet; thence North
89°6' 53'' West 225.16 feet to the West quarter corner
of said Section 27, the true point of beginning;
Situate in Kitsap County, Washington.
B. The city shall on the property described above
and on property already owned by the city, drill, and develop
a well, install a pump, pumphouse, and piping, together with
all meters, fittings, electrical wiring, valves and control
and chlorination equipment as required, for connection to the
existing water distribution system and as a part of the overall
plan for extension and expansion of the water distribution
system.
Section 2. The estimated cost of the construction
and installation of the above described additions and improvements
to the water system of the town is hereby declared to be, as
near as may be, the sum of $22,000, which shall be paid from the
sale of the water revenue warrants of the town hereinafter
authorized.
Section 3. For the purpose of providing the funds
necessary to acquire property and construct and install the
above described additions and improvements to the water system
of the city, the city shall now issue its water revenue coupon
warrants (hereinafter called the "Warrants") in the total prin-
cipal sum of $22,000.
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The Warrants shall be dated June 1, 1971, four of
which shall be in the denomination of $500 each and the balance
shall be in the denomination of $1,000 each, shall be numbered
from 1 to 24, inclusive, shall bear interest at the rate of 5%
per annum payable on the first day of December, 1971 and
semiannually on the first days of June and December of each
year thereafter and shall mature in order of their number as follows:
Warrant Nos.
Maturity Dates
Amount
1 June 1, 1972 $ 500
2 June 1, 1973 500
3 June 1, 1974 500
4-23 June 1, 1974 20,000
24 June 1, 1975 500
Both principal and interest of said Warrants shall
be payable in lawful money of the United States of America at
the office of the City 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 on thirty days notice. 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 the original purchaser of the Warrant at an
address to be supplied by the purchaser. 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:
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UNITED STATES OF A~RICA
NO. $1,000
($500)
State of Washington
City of Wins low
WATER REVENUE WARRANT
1971
TO THE CITY TREASURER OF WINSLOW, WASHINGTON:
On the first day of June, 19 , upon presentation,
pay to bearer in lawful money of th"'e United States of
America the sum of
ONE THOUSAND DOLLARS
(FIVE HUNDRED DOLLARS)
together with interest thereon from date hereof until
paid at the rate of 5% per annum payable on the first
day of December, 1971 and semiannually on June and
December of each year thereafter, as evidenced by and
upon presentation and surrender of the attached interest
coupons as they severally become due.
This warrant is one of an issue of $22,000 par value
of warrants, all of like date and tenor, except as to number,
denomination and date of maturity, designated "City of Winslow
Water Revenue Warrants, 1971."
The warrants of this issue may be called for payment
prior to maturity at par on thirty days notice as provided
in Ordinance No. of the City, adopted ,
1971.
Both principal and interest of this warrant are payable
solely out of the special fund known as the "Winslow 1971
Water Revenue Warrant Redemption Fund" created by Ordinance
No. of the city.
DATED at Winslow, Washington, this first day of June,
1971.
CITY OF WINSLOW, WASHINGTON
By ~ M
ATTEST:
City Clerk
The interest coupons attached to said Warrants shall
be in substantially the following form:
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NO. $
On the first day of , 19 , the City of
Winslow, Washington, will pay to bearer at the office of the
City Treasurer in Winslow the sum shown hereon in lawful
money of the United States of America from the special fund
of said city known as the "Winslow 1971 Water Revenue Warrant
Redemption Fund," said sum being the semiannual interest
due that day on its Water Revenue Warrant dated June 1,
1971, and numbered .
CITY OF WINSLOW, WASHINGTON
Mayor
ATTEST:
City Clerk
Section 5. Said Warrants shall be executed on behalf
of the city by its Mayor and attested by the City Clerk, with
the seal of the city impressed thereon, and the interest coupons
attached thereto shall be executed with the facsimile signatures
of said officials.
Section 6. There shall be and is hereby created a
special fund of the city to be known as the "Winslow 1971 Water
Revenue Warrant Redemption Fund," (hereinafter called the Warrant
Redemption Fund), which fund is to be drawn upon for the sole
purpose of paying the principal of and interest on the water 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 city treasurer shall set aside and pay into the
Warrant Redemption Fund out of the Water Revenue Fund of the
city created by Ordinance No. 22, adopted April 16, 1953,
at least thirty days prior to the respective dates on which
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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 the Water Revenue Fund
superior to all other charges of any kind or nature except the
necessary cost of maintenance and operation of said water system
and except the charges necessary to pay the principal of and
interest on the outstanding Water Revenue Bonds of the city
issued under dates of May 1, 1953, May 1, 1962, and May
1, 1967.
Section 7. The corporate authorities of the City of
Winslow hereby declare, in fixing the amounts to be paid into
the Warrant Redemption Fund, that they have exercised due regard
to the cost of maintenance and operation of said water system
and the charges necessary for the payment of the principal and
interest of the outstanding water revenue bonds and these
Warrants of the city and that in their judgment they have not
obligated the city to set aside and pay into the Warrant Redemption
Fund a greater amount or proportion of the revenue of such
water system than will be available over such cost of maintenance
and operation and the charges necessary to pay the principal of
and interest on such outstanding water revenue bonds of the
city.
Section 8. The City of Winslow covenants and agrees
with the holder of each and every one of the Warrants herein
that it will maintain said water system in good condition and
repair, operate the same in an efficient manner and at a
reasonable cost, and establish, maintain and collect rates
and charges for water service that will provide sufficient revenue
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to produce the gross revenue necessary to meet all the obligations
of the city as herein recognized and set forth.
Section 9. There is hereby created a special fund of
the city known as the "Winslow Water System Construction Fund"
(hereinafter called the "Construction Fund"). Immediately upon
the sale of the Warrants, the proceeds thereof shall be paid into
the Construction Fund. The money in such Construction Fund shall
be used for the sole purpose of acquiring property, constructing
and installing the additions and improvements to and extensions of
the city water system authorized by this ordinance, and for paying
all of the expenses incidental thereto. If, after the payment
of all of such costs and expenses, any money shall remain in the
Construction Fund, the same shall be transferred to the Warrant
Redemption Fund.
Section 10. The proper officials of the city are
hereby authorized and directed to do everything necessary for the
execution, sale and delivery of said Warrants and for the prompt
construction and installation of said additions and improvements
to the water system of the city out of the proceeds of the
sale thereof.
Section 11. The offers received by the city on
May 17 , 1971, from
Cederwa~l Pacitic Corporation
Ruth R. Cederwall, President
P. 0. Box 638
Bainbridge Island, Washington $5,000.00
Barbara H. Lainping
P. O. Box 281
Wins 1 ow, Washington
15,000.00
City o f Wins 1 ow
Winslow, Washington
2,000.00
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to purchase the Warrants on the terms provided for herein is
hereby accepted and confirmed.
PASSED by the Council of the City of Winslow, Washington,
and approved by its Mayor at a regular meeting held on the
17th day of May , 1971.
CITY OF WINSLOW, WASHINGTON
AT TE S T:
City Clerk
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I, F. H. S~l~l , Clerk of the City
of Winslow, Washington, DO HEREBY CERTIFY that the foregoing
is a true and correct copy of Ordinance No. 71-7 of said
city, duly adopted by its Council and approved by its Mayor
at a regular meeting held on the lTth day of May , 1971.
City Clerk