Ordinance 1594ORDINANCE NO. I S T 41
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. NO. 178 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. 1589 of the City of Edmonds
confirming the final assessment roll on L.I.D. No. 178 of
the City of Edmonds was passed on the 4th day of January,
1972, and
WHEREAS, the cash pre -payment period for said LID
expired on the 18th day of February, 1972, 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. 178 of the City of Edmonds as shown by the Final
Assessment Roll thereon was in the amount of $72,121.10 and
the sum of $17,767.12 was paid in cash during the pre -payment
period for assessments; the City of Edmonds participated and
paid the sum of $18,248.30, leaving a balance of $36,105.68.
Section 2. In payment of the said balance of
$36,105.68, bonds numbered one (1) to thirty-six (36), inclu-
sive, shall be issued in connection with and to pay the said
sum under L.I.D. No. 178, and shall be in denominations of
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$1,000.00 each, except for bond No. 1, which shall be in
the denomination of $1,105.68. All of said bonds shall bear
interest at the rate of 6 1/2% per annum, payable annually,
shall be issued on the 1st day of April, 1972, and shall be
payable on the lst day of April, 1984.
Section 3. Said bonds shall be sold locally by the
Deputy City Treasurer at not less than par and accrued interest.
APPROVED:
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ATTEST:
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CITY CLERK
PASSED BY THE CITY COUNCIL: 3_7_72
FILED WITH THE CITY CLERK: 3_7_72
PUBLISHED: 3_15_72