Ordinance 1739ORDINANCE NO. 1739
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. No. 192 OF THE CITY OF EDMONDS
HAS EXPIRED; GIVING THE TOTAL OF THE ASSESSMENT
ROLL THEREON AND THE AMOUNT RECEIVED AS CASH
PRE -PAYMENT ON ASSESSMENTS; AND STATING THE
AMOUNT AND NUMBER OF BONDS TO BE ISSUED IN
CONNECTION THEREWITH.
WHEREAS, Ordinance No. 1732 of the City of Edmonds
confirming the final assessment roll on L.T.D. No. 192 of the
City of Edmonds was passed on the lst day of October, 1974,
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WHEREAS, the cash pre -payment period for said L.I.D.
expired on the 15th day of November, 1974, and
WHEREAS, the denominations of the bonds and their
date of payment and issue for 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 the Local Improvement
District No. 192 of the City of Edmonds as shown by the final
assessment roll thereon was in the amount of $374,409.84, and
the sum of $82,162.87 was paid in cash during the pre -payment
period for assessments, leaving a balance of $292,246.97.
Section 2. In payment of said balance of $292,246.97,
bonds numbered one (1) to fifty-nine (59), inclusive, shall be
issued in connection with and to pay the said sum under L.I.D.
No. 192 and shall be in denominations of $5,000.00 each, except
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for Bond No. 1, which shall be in the denomination of $2,246.97;
and all of said bonds shall bear interest at the rate of 6.40%
per annum, payable annually and shall be issued as of the 20th
day of December, 1974, and shall be payable on or before the
20th day of December, 1996.
APPROVED:
MAYOR
ATTEST:
Passed: November 19, 1974
Filed with City Clerk: November 18, 1974
Published: November 27, 1974
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