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Ordinance 1488ORDINANCE NO.� AN ORDINANCE ORDERING THE IMPROVEMENT. OF CERTAIN PROPERTY IN THE CITY OF EDMONDS BY CONSTRUCTING CONCRETE SIDEWALKS, STANDARD CURBS AND GUTTERS, BY PAVING THE STREET WITH ASPHALTIC TYPE CONCRETE, PROVIDING NECESSARY DRAINAGE AND ANY. NECESSARY. GRADING OR BASE PREPARATION OR RELATED WORK NEC-. ESSARY TO MAKE A COMPLETE IMPROVEMENT IN ACCORDANCE WITH APPLICABLE CITY STANDARDS; CREATING AN ASSESS- MENT DISTRICT :BEING .LOCAL IMPROVEMENT DISTRICT NO. 181; PROVIDING THAT PAYMENT. OF SAID IMPROVEMENT BE MADE BY SPECIAL ASSESSMENTS UPONTHE PROPERTY.OF SAID DISTRICT, PAYABLE BY THE MODE OF "PAYMENT OF BONDS", not to exceed $4.00 PER ZONED FRONT FOOT, THE BALANCE TO BE PAID FROM MONEY AVAILABLE TO. THE CITY OF EDMONDS; PROVIDING FOR THE ISSUANCE AND SALE OF LOCAL IMPROVEMENT DISTRICT WARRANTS AND LOCAL,IMPROVEMENT DISTRICT BONDS; AND CREATING A SPECIAL IMPROVEMENT1 FUND, DISTRICT NO. 181. WHEREAS, by Resolution of Intention No. 232 adopted on the 16th. day of June, 1970,,the City Council of the.City of Edmonds declared its intention to create a local improve- ment district as hereinafter set forth and all work necessary to make. a complete.impr.ovement in accordance with.the plans and specifications prepared by. the City. Engineer, and WHEREAS, due notice of the hearing upon said Resolution of Intention No. 232 was given in the manner. as provided by law and such hearing was held by. the City. Council as aforesaid, and all persons appearing at said hearing were heard, all written protests filed with the City Council on or before said date were duly considered and rejected by. the City. Council, and WHEREAS, the City Council has now determined it to be in the best interests of the .City. that said improvement as hereinafter described be carried out and that a local improvement district be created in connection therewith, now, therefore, THE CITY COUNCIL OF THE CITY. OF EDMONDS, WASHINGTON DO ORDAIN AS FOLLOWS: Section 1. The following property within the City. of Edmonds, Washington is hereby ordered to be improved by. the construction of concrete sidewalks on each .side of the. street, standard curbs and gutters, by paving the street with -175- asphaltic type concrete, providing necessary drainage and any necessary grading or base preparation and related work nec- essary to make a complete improvement in accordance with applicable.city standards, as follows: Walnut Street between 7th Avenue .South and 9th Avenue South,.s.ituate in the City of Edmonds, Washington. The foregoingshall be carried out in accordance with the maps, plans and specifications therefor prepared by Reid, Middleton & Associates, Inc., consulting engineers for this project, copies of which are on file :in the office :of the City Clerk, and the same are hereby adopted. Section 2 There is hereby created and established a local improvement district to be :called "Local Improvement District No. 181", which is described by Exhibit "A" a copy of which is attached hereto and by this reference incorporated herein as if set forth in full. Section 3: The cost and expense of said improvement shall be assessed upon all the property in the district in accordance with the: zone -.and -termini method of assessment provided by law not to exceed $4.00 per -zone front.foot and the balance to be paid from monies available to the City of Edmonds, including that granted from the Urban Arterial Fund of the :State of Washington. Section 4. The estimated cost and expense of said improvement lying within the proposed district.is hereby -de- clared to be'$93,9,00.00.of which the: City of Edmonds in conjunction with.the State of Washington Urban Arterial Board will pay the estimated sum of $84,8.51.88. The .cost and expense of said improvement,.including all labor and materials required to make a complete improvement, all engin- eering, surveying, legal, inspection, ascertaining of ownership MPM of the lots or parcels of land included in the assessment district, advertising, mailing and publication of notices., accounting, ad- ministrative,..printing, costs: of acquisition, and other expenses. incidental thereto, shall be borne by and assessed against the property specially benefited by such improvement including in the .local improvement district established, embracing, as near as may be, all property specially benefited by such improvement, in the estimated sum of $9,048.12.representing $4.00..per zone front foot, PROVIDED, further that at the .time fixed for hearing objections to the: confirmation of the assessment roll, and at the time to which the hearing may be adjourned, the City Council may correct, revise, raise, lower., .change .or modify the.roll or any part thereof, or set aside the roll and order the assessment to be made de novo and at the .conclusion thereof confirm the roll by ordinance.. Section 5. Local Improvement District Warrants shall be issued in payment of the portion of the: cost :and expense of the improvements herein ordered to be specially assessed, such warrants to be payable out :of the ."Local Improvement Fund, District No. 181" hereinafter created, to -bear interest from the date thereof at a rate not to exceed eight percent per annum and to be redeemed in cash and/or by local improvement district bonds herein authorized to be issued. The costs: and expenses of the. improvement in the estimated sum of $9,0.48.12. as provided herein, shall be defrayed and the bonds shall be redeemed by the collection of special assessment to be Levied and assessed upon the property within said district, payable in ten equal annual installments, with interest at the rate to be hereafter fixed by ordinance .not exceeding eight percent per annum under the mode of "payment by bonds". The bonds shall bear the rate of interest at no more than eight percent -3- per annum, payable on or before twelve years after the date of issue.. Section 6. All the work necessary to be done in connection with the making of said improvement shall be..done by and made .by contract upon competitive bids and the City shall have and reserves. the .right to reject any and all bids Sec ion"7. There is hereby created and established for Local Improvement District No.., 181, a special fund to be. known and designated as "Local Improvement Fund, District No. 181,." into which fund shall be deposited the proceeds from the sale of interest bearing warrants. drawn against said fund which may be issued and sold by the City, and the aggregate of the several amounts assessed, levied and collected on the lots and parcels of land in said local improvement district; and against which funds shall be issued cash warrants for the .costs and expenses in connection with said improvement as the same may become due in the :estimated sum of'$9,048.12 provided herein, and against which :funds shall be paid the bonds and the interest thereon. APPROVED.: .. l MAYOR ATTEST: r CITY CLERK: 17 PASSED BY THE CITY COUNCIL: July 7, 1970 FILED WITH THE CITY CLERK: July 7,,1970. PUBLISHED: July 15,,1970 -4 EXHIBIT "A" BOUNDARY DESCRIPTION FOR LID 181 C0MMENCE AT THE NORTHEAST CORNER OF LOT 20, BLOCK 74, CITY OF EDMONDS AS RECORDED IN VOLUME 2, PAGES 39 RECORDS OF SNOHOMISH COUNTY, WASHINGTON; THENCE WEST ALONG THE NORTH LINES OF LOTS 20 THRU 38, BLOCK 74 AND LOTS 21 THRU 40 BL0CK A, CITY OF EDMONDS, TO THE EAST MARGIN OF 7TH AVE. SOUTH; THENCE SOUTn ALONG THE EAST MARGIN OF 7TH AVE. SOUTH TO THE SOUTHWEST CORNER OF LOT 1, BLOCK 02, CITY OF EDMONDS, THENCE EAST ALONG THE SOUTH LINES OF LOT 1 THRU 20, ELOCK 92 AND LOTS 1 THRU 19, BLOCK 73, CITY OF EDMONDS, TO THE WEST MARGIN Or 9TH AVE. SOUTH; THENCE NORTH ALONG THE WEST MARGIN OF 9TH AVE. SOUTH, TO THE POINT OF BEGINNING.