Ordinance 1547ORDINANCE NO'.
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. NO. 179 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.
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WHEREAS, Ordinance No. 1531 of the City of Edmonds
confirming the final assessment roll on L.I.D. 179 of the
City of Edmonds was passed on the 2nd day of February,
1971, and
WHEREAS, the cash pre -payment period for said L.I.D.
expired on the 19th day of March, 1971, 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 there-
under should be shown in the City records,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
EDMONDS, WASHINGTON, DO ORDAIN AS FOLLOWS:
Section 1. The total cost of Local Improvement
District No. 179 of the City of Edmonds as shown by the Final
Assessment Roll thereon was in the amount of $30,399.64, and
the sum of $13,475.00 was paid in cash during the pre -payment
period for assessments, leaving a balance of $16,924.64.
Section 2.
In payment of the said balance of
$16,924.64, bonds numbered one (1) to sixty-seven (67) inclu-
sive, shall be issued in connection with and to pay the said
sum under L.I.D. No. 179, and shall be in denominations of
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$250.00 each, except for Bond No. 1, which shall be in the
denomination of $424.64. All of said bonds shall bear
interest at the rate of 6% per annum, payable annually, shall
be issued on the lst day of May, 1971, and shall be payable
on the 1st day of May, 1983.
Section 3. Said bonds shall be sold locally by the
Deputy City Treasurer at not less than par and accrued
interest.
APPROVED:
t
MAYOR
ATTEST:
CITY CLERK
PASSED BY THE CITY COUNCIL: April 6, 1971
FILED WITH THE CITY CLERK: April 6, 1971
PUBLISHED: April 14, 1971
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