Ordinance 1570ORDINANCE NO. 1-6- 7 Q
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. NO. 181 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. 1564 of the City of Edmonds
confirming the final assessment roll on L.I.D. No. 181 of
the City of Edmonds was passed on the 15th day of June,
1971.
WHEREAS, the cash pre -payment period for said L.I.D.
expired on the 22nd day of July, 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 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.
The total cost of Local Improvement
District No. 181 of the City of Edmonds as shown by the
Final Assessment Roll thereon was in the amount of $10,225.98,
and the sum of $3,536.92 was paid in cash during the pre-
payment period for assessments; the City of Edmonds partici-
pated and paid the sum of $1,177.86 leaving a balance of
$5,511.20.
Section 2.
In payment of the said balance of $5,511.20,
bonds numbered one (1) to twenty-two (22) inclusive, shall
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be issued in connection with and to pay the said sum under
L.I.D. No. 181, and shall be in denominations of $250.00
each, except for Bond No. 1, which shall be in the denomina-
tion of $261.20. All of said bonds shall bear interest at
the rate of 6 1/2% per annum, payable annually, shall be
issued as of the 1st day of September, 1971, and shall be
payable on the lst day of September, 1983.
Section 3.
Said bonds shall be sold locally by the
Deputy City Treasurer at not less than par and accrued
interest.
APPROVED:
ATTEST:
CITY CLERK
PASSED BY THE CITY COUNCIL: August 3, 1971
FILED WITH THE CITY CLERK: August 3, 1971
PUBLISHED: August 11, 1971