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Ordinance 1566ORDINANCE NO.11�_ 6 6 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 AND RELATED WORK NECES- SARY TO MAKE A COMPLETE IMPROVEMENT IN ACCORDANCE WITH CITY STANDARDS; CREATING AN ASSESSMENT DISTRICT BEING LOCAL IMPROVEMENT DISTRICT NO. 172; PROVIDING THE METHOD OF ASSESSMENT OF SAID DISTRICT; PROVIDING THAT PAYMENT FOR SAID IMPROVEMENT BE MADE BY SPECIAL ASSESSMENTS UPON THE PROPERTY IN SAID DISTRICT PAYABLE BY THE MODE "PAYMENT BY BONDS", NOT TO EXCEED $20.00 PER ZONED FRONT FOOT IN ACCORDANCE WITH THE ZONE -AND -TERMINI METHOD OF ASSESSMENT; PROVIDING FOR THE ISSUANCE AND SALE OF LOCAL IMPROVEMENT DISTRICT WARRANTS AND LOCAL IMPROVEMENT DISTRICT BONDS; AND CREATING A SPECIAL LOCAL IMPROVE- MENT FUND, DISTRICT NO. 172. WHEREAS, a petition has been filed with the City Council, signed by the owners of property aggregating a majority of (1) the lineal frontage upon the improvement, and (2) the area within the proposed district, setting forth the nature and territorial extent of the proposed improvement, the mode of payment and that a sufficient portion of lineal frontage upon the improvement and of the area within the proposed district is owned by the petitioners as shown by the records in the Office of the Auditor of Snohomish County, petitioning for the construction and installation of standard curbs, gutters and sidewalks, and necessary drainage and related work necessary to make a complete improvement in accordance with city standards, there having been no request for withdrawal of signatures prior to the terminal date of the petition, and the same having been certified by the City Clerk of the City of Edmonds, and WHEREAS, the city engineers have caused an estimate to be made of the cost and expense of the proposed improvement -253- and have certified said estimate to the City Council, a description of the boundaries of the district, a statement of what portion of the cost and expense of the improvement should be borne by the property within the proposed district, a statement in detail of the local improvement assessments outstanding or unpaid against the property under the proposed district, and a statement of the aggregate actual evaluation of the real property, including 25 percent of the actual valuation of the improvement in the proposed district, according to the valuation last placed upon it for the purpose of general taxation; and WHEREAS, the City Clerk has determined that the petition is sufficient under the direction of the City Engineer and the facts therein set forth are true; and WHEREAS, the City Council deems it in the best interest of the City and of the owners of the property within the local improvement district that said improvement petitioned for, as hereinafter described, be carried out and that a local improvement district be created in con- nection 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 asphaltic type concrete to a width of 28 feet, providing necessary drainage, and any necessary grading or base pre- paration and related work necessary to make a complete improvement in accordance with City standards, as follows: -2- Alder Street from 7th Avenue to 9th Avenue, and 8th Avenue from Alder to Maple. The foregoing shall be carried out in accordance with the maps, plans and specifications therefor prepared by Reid, Middleton & Associates, Inc., consulting engineers to said City, 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. 172," which district is described in Exhibit "A" attached hereto and by this reference incorporated herein as if set forth in full, all of which property is situate in the City of Edmonds, County of Snohomish, Washington. 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 $20.00 per zone front foot as provided herein. Section 4. The estimated cost and expense of the said improvement is hereby declared to be $89,000.00 of which the City will pay that portion of the cost attribu- table to the installation of storm and subsurface drainage. The cost and expense of said improvement, including all labor and materials required to make a complete improvement, all engineering, surveying, legal, inspection, ascertaining of ownership of the lots or parcels of land included in the assessment district, advertising, mailing and publication of notices, accounting, administrative, printing, costs of acquisition, and other expenses incidental thereto, shall be borne by and assessed against the property specially -3- benefited by such improvement included in the local improvement district established, embracing, as near as may be, all property specially benefited by such improvement; PROVIDED the assessments borne by and assessed against the property specially benefited shall not exceed $20.00 per zone front foot in accordance with the zone -and -termini method of assessment; 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 improvement herein ordered to be specially assessed, such warrants to be payable out of the "Local Improvement Fund, District No. 172" hereinafter created, to bear interest from the date thereof at the rate not to exceed 8% per arinum and to be redeemed in cash, and/or by local improvement district bonds hereinafter authorized to be issued. The cost and expenses of the improvement up to but not to exceed $20.00 per zone front foot provided herein shall be defrayed and the bonds shall be redeemed by the collection of special assessments to be levied and assessed upon the property within said District, payable in ten (10) equal annual installments, with interest at a rate to be hereafter fixed by ordinance not exceeding 8% per annum under the mode of "payment by bonds". The bonds shall bear the rate of interest at no more than 8% per annum, payable on or before twelve years after the date of issue. -4- 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. Section 7. There is hereby created and established for Local improvement District No. 172, a special fund to be known and designated as "Local Improvement Fund, District No. 172", 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 aggre- gate of the several amounts assessed, levied and collected on the lots and parcels of land in said local improvement district; and against which fund shall be issued cash warrants for the costs and expenses in connection with said improvement as the same become due not to exceed $20.00 per zoned front foot as provided herein, and against which fund shall be paid the bonds and the interest thereon. APPROVED: ATTEST: CITY CLERK ell PASSED BY THE CITY COUNCIL: June 15, 1971 FILED WITH THE CITY CLERK: June 15, 1971 PUBLISHED: June 23, 1971 -5- Exhibit "A" Boundary Description Beginning at the intersection of the centerlines of 8th Avenue and Maple Street; thence West 330 feet; thence South 155 feet; thence West to the centerline of 7th Avenue; thence South 280 feet; thence East to the centerline of 9th Avenue; thence North 280.feet; thence West 315 feet; thence North to the centerline of Maple Street; thence West to the Point of Beginning.