Ordinance 1492ORDINANCE NO.'
AN ORDINANCE STATING. THAT .THE CASH .PRE -PAYMENT
PERIOD FOR L.I.D. NO. 173.'OF THE CITY.OF EDMONDS
HAS EXPIRED., GIVING THE. TOTAL OF THE ASSESSMENT
ROLL THEREON AND THE AMOUNT RECEIVED AS CASH
PRE -PAYMENT. OF ASSESSMENTS; AND STATING THE
AMOUNT AND NUMBER OF BONDS. TO BE ISSUED IN
CONNECTION THEREWITH.
................................................
WHEREAS,.Ordinance No. 148.3 of the City. of Edmonds
confirming the final assessment roll on L.I.D. No. 173'of
the .City of Edmonds was passed on the 2nd day of June,
1970, . and
WHEREAS,.the cash pre -payment period for said L.I.D.
expired on the 17th. day of July, 1970, and
WHEREAS,. the denominations of the bonds, and their
date of payment and issue for the said Local Improvement
District should be incorporated in and made a part of the
City records and fixed by. Ordinance, and
WHEREAS, the total of the final assessment roll and
the amount received as cash pre -payment of assessments
thereunder should be shown in the City records,
NOW, THEREFORE, THE CITY COUNCIL OF THE .CITY OF
EDMONDS, WASHINGTON .DO ORDAIN AS .FOLLOWS.:
Section 1. That the total cost of Local Improve-
ment District No. 173'of the City of Edmonds as shown by
the Final Assessment Roll thereon was in the amount of
$14,878.02; that no amount was paid in cash during the
prepayment period for assessments, leaving the original
balance of'$14,8.78.02..
Section '2.: That in payment of the said balance of
$14,8.78.02, bonds numbered one (1.) to. ten (1.0). inclusive,
shall be issued in connection with and to pay the said
sum under L.I.D. No. 173, and shall be in denominations
-179-
of $1,0.0.0.00 each,. except for Bond No. 1, which :shall be
in the denomination of $,8.78.02, that all of said bonds
shall bear interest at the rate of 5 1/2 per annum, .
payable annually; shall be :issued on the lst day of
September, ,1970, and shall be payable .on the lst day
of September, 1982..
Section 3. That :the :said bonds shall be sold
locally by the City. Treasurer at not :less than par and
accrued interest.
APPROVED:
ATTEST:
CITY CLERK .
PASSED BY THE CITY COUNCIL: August.4,. 1970.
FILED WITH THE CITY. CLERK: August '4,.1970
PUBLISHED: August :12, .1970
-2-