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Ordinance 1757ORDINANCE NO. j 7.S_7 AN ORDINANCE ORDERING THE IMPROVEMENT OF CERTAIN PROPERTY IN THE CITY OF EDMONDS BY CONSTRUCTING STANDARD CURBS AND GUTTERS, INSTALLING CONCRETE SIDEWALKS, BICYCLE PATHS, INSTALLING NECESSARY DRAINAGE, AND ANY NECESSARY GRADING OR BASE PREP- ARATION AND RELATED WORK NECESSARY TO MAKE A COM- PLETE IMPROVEMENT IN ACCORDANCE WITH APPLICABLE CITY STANDARDS; CREATING AN ASSESSMENT DISTRICT BEING LOCAL IMPROVEMENT DISTRICT NO. 194; PROVIDING THAT PAYMENT FOR SAID IMPROVEMENT BE MADE BY SPECIAL ASSESSMENTS UPON THE PROPERTY OF SAID DISTRICT, PAYABLE BY THE MODE OF "PAYMENT BY BONDS," NOT TO EXCEED $4.00PER ZONE FRONT FOOT, THE BALANCE TO BE PAID FROM MONEY AVAILABLE TO THE CITY OF EDMONDS; PROVIDING FOR THE ISSUANCE AND SALE OF LOCAL IMPROVE- MENT DISTRICT WARRANTS AND LOCAL IMPROVEMENT DISTRICT BONDS; AND CREATING A LOCAL IMPROVEMENT FUND, DISTRICT NO. 194. WHEREAS, by Resolution of Intention No. 239, adopted on the 23rd day of December, 1974, the City Council of the City of Edmonds declared its intention to create a local improvement district as hereinafter set forth and all work necessary to make a complete improvement in accordance with the plans and specifi- cations prepared by the City Engineer, and WHEREAS, due notice of the hearing upon said Resolution of Intention No. 239 was given in the manner as provided by law and such hearing was held by the City Council as aforesaid, and all persons appearing at said hearing were heard, and WHEREAS, the City Council has now determined it to be in the best interests of the City that said improvement as herein- after described be carried out and that a local improvement district be created in connection therewith, now, therefore, THE CITY COUNCIL OF THE CITlY OF EDMONDS, WASHINGTON, DO ORDAIN AS FOLLOWS: Section.l. The following property within the City of Edmonds, Washington, is hereby ordered to be improved by installing stand - and curbs and gutters, installing concrete sidewalks on each side of the street, bicycle paths, installing necessary drainage and grading or base preparation and related work necessary to make a complete improvement in accordance with applicable standards, as follows: 196th Street S.W., from the east city limits west to 81st Avenue West (Urban Arterial Project No. 8-1-140 (06), City of Lynnwood, Primary Agent) The foregoing shall be carried out in accordance with the maps, plans and specifications therefor prepared by Reid, Middleton & Associates, Inc., consulting engineers for this project, 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. 194," which is described by Exhibit "A" a copy of which is attached hereto and by this reference incorporated herein as if set forth in full. 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 $4.00 per zone front foot and the balance to be paid from monies available to the City of Edmonds, including that granted from the Urban Arterial Fund of the State of Washington. Section 4. The estimated cost and expense of said improve- ment lying within the proposed district is hereby declared to be $319,700.00, of which the City of Edmonds will pay the estimated sum of $308,054. The cost and expense of said improve- ment, including all labor and materials required to make a complete improvement, all engineering, surveying, legal, inspec- tion, ascertaining of ownership of the lots or parcels of land -2- 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 benefited by such improvement included in the local improvement district established, embracing, as near as may be, all property specially benefited by such improvement, in the estimated sum of $11,646.00, representing $4.00 per zone front foot, 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. 194" hereinafter created, to bear interest from the date thereof at a rate not to exceed eight percent (8%) per annum and to be redeemed in cash and/or by local improvement district bonds herein authorized to be issued. The costs and expenses of the improvement in the estimated sum of $11,646.00 as 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 the rate to be hereafter fixed by ordinance not exceeding eight percent -3- (8%) per annum, under the mode of "payment by bonds." The bonds shall bear the rate of interest at no more than eight percent (8%) per annum, payable on or before twelve years after the date of issue. 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. 194, a special fund to be known and designated as "Local Improvement Fund, District No. 194" 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 aggregate of the several amounts assessed, levied and collected on the lots and parcels of land in said local improvement district; and against which funds shall be issued cash warrants for the costs and expenses in connection with said improvement as the same may become due in the estimated sum of $11,646.00 provided herein, and against which funds shall be paid the bonds and the interest thereon. APPROVED: r MAYO ATTEST: Filed with the City Clerk: January 23, 1975 Passed by the City Council: January 28, 1975 Published: February 5, 1975 -4- EXHIBIT "A" Begin at the point of intersection of the centerline of 196th Street Southwest with the centerline of 81st Place blest and run thence South along the centerline of 81st Place West 170.42 feet, more or less to intersect a line drawn parallel to and distant 5.0 feet North of the North line of Lot 10, Valley Lane as recorded in Book of Plats, Volume 20, Page 96 in fhe office of the Auditor, Snohomish County; Washington; thence East along said parallel line to the West line of Maplewood Grove No. 2 as recorded in the Book of Plats, Volume 18, Page 23 in the office of the Auditor, Snohomish County, Washington; thence North along the West line of said Maplewood Grove No. 2 to the Northwest corner.thereof; Thence East along the North line of said subdivision and con- tinuing East, in a straight line to the East Margin of 80th Avenue West; thence North along said East Margin to a point 90 feet South of the South Margin of 196th Street Southwest; thence East parallel to said South Margin to the West Line of the East one-half of the Northwest one -quarter of the Northeast one - quarter of the Northeast one -quarter of Section 19, Township 27 North, Range 4 East, W.M.; thence South along said West line to a point in a line parallel to and distant 150 feet South of the South Margin of 196th Street Southwest; thence East along said parallel line to the East line of the West one-half" of the North- east one -quarter of the Northeast one -quarter of the Northeast one -quarter of said Section 19; thence North along said East line and said East line produced to the North Margin of 196th Street Southwest; thence East along said North Margin to the East Margin of vacated Central Street (77th Avenue West); thence North along said East Margin 100 feet; thence West parallel to the North -Margin of 196th Street Southwest to the East line of the Southwest one -quarter of.. the Southeast one -quarter of the Southeast one -quarter of Section 13, Township 27 North, Range 4 East, W.M.; thence North along the East line of said subdivision 50 feet; thence West parallel to 196th Street Southwest to the East line of Lawrence Addition as recorded in Book of Plats, Volume 19, Page 92 in the office of the Auditor, Snohomish County, Washington; thence South alon6 said East line 25 feet;thence West parallel to the North Margin of 196th Street Southwest to the West Margin of 80th Avenue West; thence North along said West Margin 25 feet; thence West parallel to the North Margin of..196th Street Southwest to the East line of Sierra Village Division B as recorded in the Book of Plats, Volume 17, Page 75, in the office of the Auditor, Snohomish County, Washington; thence South along said East line 60 feet; thence West parallel to the South line of said subdivision to the West line of Lot 16 said subdivision; thence South along the West line of Lot 16 to Southwest corner thereof; thence South in a straight line to the point of beginning. EXHIBIT "A"