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HomeMy WebLinkAboutORDINANCE 0156-1969CIT¥ OF KENA!, ALASKA ORDINANCE NO. 156-69 AN OHDINAIICE of the City of Kenai, Alaska, providing for the submission to the qualified electors of the city at a special election to be held %herein on March 18, 1969 of a proposition of whether or not the city should issue its electric liKht and power revenue bonds in the principal ~oount of $?50,000 for the purpose of providing part or all of the funds to acquire, construct, ins%all and make necessary additions, improvements and repairs to aha extensions of its electric light and power system; and declarin~ an emep~encyo WHEREAS,. in order to provide the City of Kenai, Alaska (hereinafter called the "City"), its inhabitants and the people living in the vicinity thereof with an adequate supply of electric power and energy, it is deemed necessary and advisable that the City acquire, construct, install and make certain additions, improvements and repairs to and extensions of its electric light and power system (hereinafter called the "Syztem"), and to provide part or all of the funds therefor that it issue its electric light and power revenue bonds in the prin- cipal amount of $750,000; and WHEREAS, the Charter of the City requires that the question of whether or not such bonds should be issued for such purposes should be submitted to the qualified electors of the City for their x'atifica- tion or rejection; NOW, THEREFOHE, BE IT ORDAINED by the Council of the City of Kenat, Alaska, as follows: Section 1. It is hereby found and declared that the public health, welfare, safety and convenience require the City to carry out the plans hereinafter provided. Section 2. For the purpose of prov]dln~ f'un~s nec(~:;ary to pay part or all of the costs of carrying out the capital improvement pro, ram of extens Ions t,o the f;y:;tel~l for thc yuar:; 1969- 1970 and ]970- 1971, to acquire electric ]l;~ht and I)owcr sy:;tem:: ansi facllltl(~:l already installed by private corporation'.; or Indl vldual:;, slid tO ¢;Oil:;trllct and equip a new substation and llne on an lntertie with llomer Electric Association, the City shall 1:;sue and sell it:; electric light and power revenue bonos In thc principal amount of $790,000. In the event aald sub,ration, line and Inter. tie a~ not con- structed, the City ~hall carry out the approved plan of improvements to the System for the years 1962-1963 and 1963-196tI, and shall acquire, construct and install additions and improvements to and extensions of the System and make repairs to the System wherever the same may be found to be necessary and feasible. Section 3. To carry out the above-described plans of improve- ments to the System, the City ~hall acquire all real and personal property, easements and rights of way necessary therefor. Part of the costs of the above-de~crlbed plans may come from grants or other moneys which the City may now or later have on hand and available for such purposes. Upon determination of the amounts of money available from such sources other than thc proceeds of sale of the bonds, the Council chall determine the specific improvements to be acquired, constructed, installed and made. Section ti. The bonds shall be sold at not less than par and accrue~ interest to the date of delivery and in such amounts and at such time or times as deemed necessary and advisable by this Council, shall bear interest payable semiannually at a rate not to ,~xceed the maximum rate permitted by law at the time of the sale thereof, and shall mature in such amounts and at such times in not to exceed thirty years from date of issue as later, authorlzed by tht:~ Council. The exact date, fo:'m, terms, maturities and covenants of said bonds shall bo as here- after f'ix~d by ordinance or ordlnance:~ of bhl[: Council. . ~cpt!p_r!~.. The p~opot~Itlon of ~hebher' oP not the Clby shall submitted to iht, qual[l'lcd elt~ctol':; of thc City at a :;imclal elect[on to be held therein on :.larch 15, 1969. S~Id proposition shall be [, the follo;llng form: PROPOSITION NO. 6 LIGHT AND POWER REVHNUE BONDS, $750,000 Shall the City of Kenai, Alaska, for the purpose of providing funas necessary to pay part or all of the cost of acquiring, constructing, installinf~ and making certain adatttons, improvements ana repairs to and extensions of i~s light and power system, Issue its revenue bonds in the principal amount of $750,000, said bon~s to bear interest at a rate not to exceed the maximum rate permitte~ by law at the time of any sale thereof, to mature in not to exceed ~0 yea~s from date of issue, and to be paid both principal and interest out of the revenues of the electric light and power system of the city, all as more specifically provided in Ordinance No. 156-69, adopted February 19, 19697 BONDS,,YES . . . /-~ BONDS, NO . . · /__~ Section 6. Those eligible to vote at said special election must possess the following qualifications: a. They must be at least 19 years of age. b. They must be citizens of the United States, and for at least one year preceding the election citizens of the State of Alaska, and for S0 days immediately preceding the election residents of the City of Kenai, Alaska. c. They must be able to read and write the English language, as prescribed by law. d. They must not be barred from voting by any other provision of law. e. They must be registered in the manner prescribed in Sections 6-3, 6-4, 6-5, 6-6, 6-7, and 6-8 of the Kenai Code, ].963. Section 7. For elector or voter registration the book will be open dally in the office of the City Clerk, City Administration Butldin~;. Kenat, Alaska, from 9:00 o'clock A. M. until 5:00 o'clock P. M. daily, except 'Saturdays, Sundays and holidays. Registration :;lca]] be closed five days precedin,~ the said special elect]on. A dupl].cate re;~istration index nha]l be furn!:;hed by the City C].ork-He;~l:;trar to tho prectrict .Jud;~e:; and clerk:; of the elect.~on. once a week for not less than three consecutive weeks Jn n new=paper o£ general c~r'culatlon in the City, and the first publlcatlon thereof shall be not less than twenty days prior to said election date. Said notice shall be published in "The Cook Inlet Courier" which is hereby deter- mined to be a newspaper of general circulation within the City. Notice of this special election shall also be posted on the official City bulletin board in or on the City Administration Building and in two other conspicuous places within the City. Section 9. The designated polling places will be the City Administration Building, and the Kena! Airport Terminal Building. Said polls shall be open from 8:00 otclock A. M. to 8:00 o'clock P. M. on the 18th day of March, 1969. Section 10. The following qualified electors of the City are hereby designated and appointed to serve as Judzes and clerks at said special election: Precinct No. 1 *, J Precinct No. 2 If a replacement shall be required for any of the above-named officials, such replacement may be appo~gted at any meeting of the City Council. Section ]1. An emcrgency is hereby declared to exist, and the rules governing the ~ntroduction, reading, pas:~age arid approval of this ordinance are hereby suspended and this ordinance shall be effective immediately upon its passage and approval. PubJlc;itloH o~' th]:; ordilHtnc(; :~ha]] bo lnade by pO:;~lHl~ fl COpy thereof on tho City Councl]. bul].et.ln board l'or ;3 p(:rlod ot' ton da,V:; il. following lt:s pa,n.a~,e PASSED and APPHOVED this 19th day of February, 1969. ATTEST: City Clerk CITY/~ KENAI By (~t~ g4~ ~,t4..~/~r~, ~ 0~.t <f - ~ ~or I, FtIANCES TORKII.$E[I, the duly appointed, qualified and acting City Clerk of ~he City of F~enai, Alaska, DO )tEIiEBY CEIITIFY that the foregoing is a true and correct copy of Ordinance No. of said city, passed and approved on the 19th day of February, 1969.