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HomeMy WebLinkAboutORDINANCE 0161-1969CITY OF KENAI -- ORDINANCE NO. / REPEALINO THE AUTHORIZATION VOTED THE 28th DAY OF FEBRUARY, 1967 FOB $650,000 IN OAS UTILITY REVENUE BONDS OF THE CITY 0~ KENA! AND DECLARINO AN EMEROENCY. Whereas, gas utility revenue bonds of the City of Kenai a~e not foreseeablY required by the City of Kenat because a fran- chise has been awarded to a private company In accordance with procedures of law, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF KENAI, ALASKA: Section 1. It is hereby found and declared and deter- mined that it is th~ public health, welfare and convenience quire that the City of Kenai repeal that certain authorization voted by the electors of the City at the special election held on the 28th day of February, 1967, wherein there was authorized the s~m of $650,.000 in gas utility revenue bonds of the City and is the determination of the council that said authorization Is not foreseeably required by or for this City. Section 2. The authorization for gas utility revenue bonds In the total guthorized sum of $650,000 is hereby repealed and said authorization shall be expunged from the ~ecords of the. C~ty. Section 3. The City Manager and C~ty Clerk are hereby directed an~ ordered to note on the official records of the City that the authorization in the total sum of $650,000 for gas utility revenue bonds of the City is hereby repealed and sa~d authorization is to be noted as being deleted or expunged f~om the records of the City. It is further directed that no represen- tations or publ~cations of this C~ty shall include, from the date of passage of this ordinance, any reference or representation of the fact that such authorizatio~ for gas utility revenue bonds is authorized for the City. Section ~. An eme~ency is hereby declared to exist and the rules ~Ove~nIns the introduction, reading, passage and approval of this ordinance are hereby suspended and this ordinance shall be effective immediately upon its p&ssa~e and approval. PASSED ~ day of 'February, 1969. CITY OF KENAI Attest: BY:FRANCES TORKILSEN, City Cl~ ....