Ordinance 1692ORDINANCE NO. 1692
AN ORDINANCE STATING THAT THE CASH PREPAYMENT
PERIOD FOR L.I.D. 191 OF THE CITY OF EDMONDS
HAS EXPIRED, GIVING THE TOTAL OF THE ASSESSMENT
ROLL THEREON AND THE AMOUNT RECEIVED AS CASH
PREPAYMENT OF ASSESSMENTS; AND STATING THE
AMOUNT AND NUMBER OF BONDS TO BE ISSUED IN
CONNECTION THEREWITH.
WHEREAS, Ordinance No. 1686 of the City of Edmonds con-
firming the final assessment roll on L.I.D. No. 191 of the City
of Edmonds was passed on the 27th day of November, 1973, and
WHEREAS, the cash prepayment period for said L.I.D.
expired on the llth day of January, 1974, 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 prepayment 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. 191 of the City of Edmonds as shown by the Final Assessment
Roll thereon was in the amount of $60,953.62 and the sum of
$7,586.24 was paid in cash during the prepayment period for
assessments; the City of Edmonds participated and paid the sum
of $6,095.36, leaving a balance of $47,272.02.
Section 2. In payment of the said balance of $47,272.02,
bonds numbered one (1) to forty-seven (47) inclusive, shall be
issued in connection with and to pay the said sum under L.I.D.
No. 191, and shall be in denominations of $1,000.00 each, except
for Bond No. 1, which shall be in the denomination of $1,272.02.
All of said bonds shall bear interest at the rate of 6-1/40,
payable annually, shall be issued as of the 1st day of March,
1974 and shall be payable on the 1st day of March, 1986.
Section 3. Said bonds shall be sold locally by the
City Treasurer at not less than par and accrued interest.
APPROVED:
MAYOR
ATTEST:
CITY CLERK
PASSED BY THE CITY COUNCIL: January 15, 1974
FILED WITH THE CITY CLERK: January 15, 1974
PUBLISHED: January 23, 1974