HomeMy WebLinkAboutORDINANCE 0165-1969 CITY OF KENAI, ALASKA
ORDINANCE NO. ~
AN ORDINANCE of the City of Kenai, Alaska, providing
for the submission to the qualified voters of the
Ci~ at .a special election to be held therein on
~FF'~F~A~ /~ of a proposition of
whether or not the City Cha~ter should b~_amended
by the deletion of Section 6-~ the~eof,~
declaring an cmergenc~
WHEREAS, Section 6-4 of the Charter of the City of Kenai,
Alaska (hereinafter called the "City"), provides:
"Section 6-4. No bond or other evidence of indebtedness
of the city shall bear interest at a rate exceeding six percent";
and
WHEREAS, market conditions now are such that the City has found
it o sell its bonds at an interest rate of 65 or less; and
WHEREAS, it appears that such market conditions may continue
for a considerable period of time; and
WHEREAS, it is deemed necessary and advisable that the Charter
of the City be amended by the deletion of Section 6-4 therefrom; and
WHEREAS, Article 12 of such Charter provides that any amendment
to the Charter must be submitted to the qualified voters of the City at
an election to be held not less than two months after passage of the
ordinance calling such election and that such amendment shall become
effective upon approval by a majority of such voters who vote on the
question of approval;
NOW, THEREFORE, BE IT ORDAINED by the Council of the City of
Kenai, Alaska, as follows:
Section 1. It is hereby found and declared that it is neces-
sary for the public welfare and ben,fit that the Charter of the City be
amended by the deletion of Section 6-4 therefrom.
Section 2. The proposition of whether or not the Chaeter of'
the C:ty shall be :;o amended shall be submitted to the qualified voters
of tY'*e City at a special election to be held therein on ~'~'../~_~/,_ __
Said proposition shall be in the following Form;
PROPOSITION NO. 1
CHARTER AMENDMENT
Shall the charter of the City of Eenai, Alaska, be
amended by the deletion of Section 6-~ therefrom, which
section reads as follows:
"Section 6-~. No b~d or other evidence of
indebtedness of the city shall bear interest at a
rate exceeding six percent."
Y~S .......... /7
~o .......... /7'
Sections 3, 4, 5, 6, ? ~.d 8 shall be the same.
PASSED and APPROVED this ~ day of _~~~, 1969.