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Ordinance No. 0061
ityofMedina0RDINACENOitANOEDIMCEprovidingforthesubmissionofapropositiontothequalifiedelectorsoftheCityattheregularmunicipalelectiontobeheldthereinonMarchll1958authorizingtheissuanceofgeneralobligationbondsoftheCityintheprincipalsumofqEorsomuchthereofasmaybelssucdurterthelawsgoverningthelimitationofindebtednessofcitiesofthethirdclassWHEREAStheCityofMedlnshasadoptedacomprehensiveplanforthephysicaldevelopmentoftheCitywhichplanprovidesforanumberofparksandplaygroundsandotherareasdevotedtopublicusesandWHEREASsuchlandwouldbestbeacquiredwhileyetinanundevelopedstatenowthereforeTHECITYCOUNCILOFTHECITYOFMEDIDDOOHDAINASFOLLOWSSection1DeclarationofpublicinterestItisherebyfoundanddeclaredthatthewelfareoftheresidentsoftheCityrequiresthatitcarryouttheplansheroinafterprovidedSection2PlansforlandacGuisitionandimprovementlncludirnthelssuanceandsaleofbondsthereforToeffectuatethepublicinteresttheCityshallacquirebypurchaseorcondemrtiontheparcelsoflandortheirequivalentindicatedontheofficiallanusemapoftheCityofMediasadoptedbyitsOrdlmanceie5onDeceer1957suchmapbeingarepresentationofthecomprehensiveplanoftheCitysdevelopmentastheresetasideforplaygroundsparksorotherpublicusesThatforthepurposeofprovidingpertofthefundsnecessarytoacquireandimprovesaidlandtheCityshallissueandsellitsgeneralobligationbondsintheprincipalsumoFyooersomuchthereofasmaybeissuedandsoldunderthelawsoftheStateoffashingtongoverningthelimitationofindebtednessofcitiesofthethirdclassIntheeventthattheproceedsOfthesaleofsuchbondsplussuchothermoniesasmaybeavailableforthesamepurposeareinsufficienttoscqulreandimproveallofthelandasherelnaboveprovidedtheCityshallusetheavailablefundsforacquiringarlimprovingthoseparcelsdeemedmostnecessaryandtothebestinterestsoftheCitybytheCityCouncilSaidbondsshallbesoldinsuchamountsandatsuchtimeortimesasdeemednecessarybytheCityCouncilandaspermittedbylawshallbearinterestataratenottoexceedsixpercent6perannumandshallmatureinfromtwototwentyyearsfromdateofissueinsuchamountsaswillasnearlyaspracticabletogetherwhinterestonsaidbondsbemetbyequalannualtaxleviesforthepaymentoftheprincipalthereofandinterestthereonBothprincipalofandinterestonsaidbondsshallbepayablebyamualtaxleviestobemadeuponalltaxablepropertywithintheCitywithoutlimitationastorateoramountTheexactdateformtermsandmaturitiesofsaidbondsshallbeashereafterfixed yrdinanceoftheCityCouncilSection3ClerktoCertifypropositionforballotTheCityClerkisherebyauthorizedanddirectedtocertifytotheKingCountyAuditorthefollowingpropositionfortheregularmunicipalelectiontobeheldintheCityonMarchll1958sPROPOSITIONLANDACQUISITIONIMPROVEMENTBONDSShalltheCityofMedinaWashingtonissueitsgeneralobligationbondsintheprincipalsumof7oorsomuchthereofasmaybeissuedandsoldundertheLawsoftheStategoverningthelimitationofindebtednessforCitiesofthethirdclasssuchbondstobepayablebothprincipalandinterestoutofannualtaxleviestobemadewithoutliltationastorateoramounttobearinterestatarateofnottoexceedsix6percentperannumandtomatureinfrom2to20yearsfromdateofissueforthepurposeofprovidingfundstoacquirelandandimprovethesameforparksplaygroundsorotherpublicusesasprovidedinOrdinancesNo56andadoptedbytheCityDecember91957andJanuary131958respectivelyBONDSYESBONDSN0Section4CodeReferenceAllcfdtionshereofshallbeconsideredofspecialeffectSection5EffeCtiveDateThisordlnnceshallbecomeeffectiveontheodayofJanuary1958PASSEDbytheCityCouncilonthe3dayofJanuary1958andsiguedinauthenticationofitspassagethesamedayApproedastoformSTEPENFCHADWICKJRStephenFChadwickJrCityAttorneyATTESTMARYFITZGERALDMARYFITZGERALOCityClerkWILLIAMEPAKWILLIAMEPAKMayor