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Ordinance 2384MAE:jt 7/19/83 ORDINANCE NO. 2384 AN ORDINANCE OF THE CITY OF EDMONDS, WASHINGTON, ORDERING THE IMPROVEMENT OF CERTAIN STREETS WITHIN THE CITY, ALL IN ACCORDANCE WITH RESOLUTION OF INTENTION NO. 262 OF THE CITY COUNCIL; ESTABLISHING LOCAL IMPROVEMENT DISTRICT NO. 212 AND ORDERING THE CARRYING OUT OF THE PROPOSED IMPROVEMENT; PROVIDING THAT PAYMENT FOR THE IMPROVEMENT BE MADE BY SPECIAL ASSESSMENTS UPON THE PROPERTY IN THE DISTRICT, PAYABLE BY THE MODE OF "PAYMENT BY BONDS"; AND PROVIDING FOR THE ISSUANCE AND SALE OF LOCAL IMPROVEMENT DISTRICT WARRANTS OR OTHER SHORT TERM OBLIGATIONS REDEEMABLE IN CASH AND LOCAL IMPROVEMENT DISTRICT BONDS. WHEREAS, by Resolution of Intention No. 262, adopted on June 28, 1983, the City Council of the City of Edmonds, Washington, declared its intention to order the improvement of certain streets within the City, and fixed July 19, 1983 at 7:30 PM, local time, in the Plaza Meeting Room of the Edmonds Library as the time and place for hearing all matters relating to the proposed improvement and all objections thereto and for determining the method of payment for the improvement, and WHEREAS, the City Engineer caused an estimate to be made of the cost and expense of the proposed improvement and certified that estimate to the City Council, together with all papers and information in his possession touching the proposed improvement, a description of the boundaries of the proposed Local Improvement District (the "District"), a statement of what portion of the cost and expense of the improvement should be borne by the property within the proposed District, a statement in detail of the local improvement assessments outstanding or unpaid against the property in the proposed district, and a statement of the aggregate actual valuation of the real estate, including 25% of the actual valuation of the improvements in the proposed District, according to the valuation last placed upon it for the purpose of general taxation, and WHEREAS, that estimate is accompanied by a diagram of the proposed improvement showing thereon the lots, tracts, parcels of land, and other property which will be specially benefited by the proposed improvement and the estimated cost and expense thereof to be borne by each lot, tract and parcel of land or other property, and WHEREAS, due notice of the above hearing was given in the manner provided by law, and the hearing was held by the City Council on the date and at the time above mentioned, and all objections to the proposed improvement were duly considered and overruled by the City Council, and all persons appearing at such hearing and wishing to be heard were heard, and WHEREAS, the City Council has determined it to be in the best interests of the City that the improvement as here- inafter described be carried out and that the District be created in connection therewith, now, therefore, THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON DO ORDAIN AS FOLLOWS: -2- Section 1. The City Council of the City of Edmonds, Washington, orders the improvement of Sea Vista Place within the City of Edmonds, Washington by extending the existing street approximately 300 feet, installing eight -inch sanitary sewers and all necessary appurtenances, including pipe, valves, fittings, manholes; water system and all necessary appurtenances, including pipe, valves, fittings and fire hydrants; storm sewers; any grading base preparation and paving the street with asphaltic -type concrete and related work necessary to make a complete improvement in accordance with city standards. All of the foregoing shall be in accordance with the plans and specifications therefor prepared by the City Engi- neer, and may be modified by the City Council as long as such modification does not affect the purpose of the improvement. Section 2. There is created and established a local improvement district, to be called Local Improvement District No. 212 of the City of Edmonds, Washington (the "District"), the boundaries of territorial extent of which District being more particularly described in Exhibit A, a copy of which is attached hereto and incorporated in full by this reference. Section 3. The total estimated cost and expense of the improvement is declared to be $61,235.00. The entire cost and expense of the improvement including all labor and materials required to make a complete improvement, all engi- neering, surveying, inspection, ascertaining ownership of the lots or parcels of land included in the assessment district, -3- and all advertising, mailing and publication of notices, accounting, administrative, printing, legal, interest and other expenses incidental thereto, shall be borne by and assessed against the property specially benefited by such improvement included in the District embracing as nearly as practicable all property specially benefited by such improvement. Section 4. In accordance with the provisions of RCW 35.44.047, the City may use any method or combination of methods to compute assessments which may be deemed to fairly reflect the special benefits to the properties being assessed. Section 5. Local improvement district warrants may be issued in payment the cost and expense of the improvement herein ordered to be assessed, such warrants to be paid out of the Local Improvement Fund, District No. 212, hereinafter created and referred to as the Local Improvement Fund, and, until the bonds referred to in this section are issued and delivered to the purchaser thereof, to bear interest from the date thereof at a rate to be established hereafter by the Finance Director, as issuing officer, and to be redeemed in cash and/or by local improvement district bonds herein authorized to be issued, such interest -bearing warrants to be referred to hereafter as revenue warrants. In the alternative, the City hereafter may provide by ordinance for the issuance of other short-term obligations pursuant to Chapter 216, Laws of 1982. -4- The City is authorized to issue local improvement district bonds for the District which shall bear interest at a rate and to be payable on or before a date to be hereafter fixed by ordinance. The bonds shall be issued in exchange for and/or in redemption of any and all revenue warrants issued hereunder or other short-term obligations hereafter authorized and not redeemed in cash within twenty days after the expiration of the thirty -day period for the cash payment of assessments without interest on the assessment roll for the District. The bonds shall be redeemed by the collection of special assessments to be levied and assessed against the property within the District, payable in annual installments, with interest at a rate to be hereafter fixed by ordinance under the mode of payment by bonds, as defined by law and the ordinances of the City. The exact form, amount, date, interest rate and denominations of such bonds shall be here- after fixed by ordinance of the City Council. Such bonds shall be sold in such manner as the City Council shall hereafter determine. Section 6. In all cases where the work necessary to be done in connection with the making of said improvement is carried out pursuant to contract upon competitive bids, the call for bids shall include a statement that payment for such work will be made in cash warrants drawn upon the Local Improvement Fund. Section 7. There is created and established in the office of the Finance Director for the District the Local -5- Improvement Fund, into which fund shall be deposited the pro- ceeds from the sale of revenue warrants drawn against the fund which may be issued and sold by the City and collections pertaining to assessments, and against which fund shall be issued cash warrants to the contractor or contractors in payment for the work to be done by them in connection with the improvement, and against which fund cash warrants shall be issued in payment for all other items of expense in connection with the improvement. Section 8. Within fifteen (15) days of the passage of this ordinance there shall be filed with the Finance Director the title of the improvement and District number, a copy of the diagram or print showing the boundaries of the District and the preliminary assessment roll or abstract of such roll showing thereon the lots, tracts and parcels of land that will be specially benefited thereby and the estimated cost and expense of such improvement to be borne by each lot, tract or parcel of land. The Finance Director shall immediately post the proposed assessment roll upon his index of local improvement assessments against the properties affected by the local improvement. Section 9. This ordinance shall be in full force and effect five (5) days after its passage and publication as provided by law. CITY OF EDMONDS MAYOR, H`. H. HARRISON UUm ATTEST/AUTHENTICATED: CITY CLERK, IRENE YARNEY MORAN APPROVED AS TO FORM: OFFICE OF TH CITY TORNEY: B - FILED WITH THE CITY CLERK: July 19, 1983 PASSED BY THE CITY COUNCIL: July 19, 1983 PUBLISHED: July 27, 1983 POSTED: July 20, 1983 EFFECTIVE DATE: July 25, 1983 dt EXHIBIT A Beginning at the northeast quarter corner of the southwest quarter of the northeast quarter of Section 25, Township 27 North, Range 3 West, thence S00°33'15"W a distance of 497.76 feet; thence N88°52'27"W a distance of 832.18 feet to the True Point of Beginning; thence continuing N88°52'27"W a distance of 324.85 feet; thence S00°30'35"W a distance of 83.00 feet; thence N88°52'27"W a distance of 29.00 feet; thence S00°30'35"W a distance of 82.94 feet; thence S88052'27"E a distance of 29.00 feet; thence S00°30'35"W 183.96 feet to the north line of the Plat of Gatewood as recorded in Volume 34 of Plats, pages 22 and 23; thence S88°53'51"E a distance of 175.90 feet; thence S00°31'55"W a distance of 64.95 feet; thence S88°53'51"E a distance of 157.42 feet; thence N00033'15"E a distance of 414.79 feet; thence N88°52'27"W a distance of 8.07 feet thence northeasterly to the True Point of Beginning. AFFIDAVIT OF POSTING ORDINANCE STATE OF WASHINGTON ss: COUNTY OF SNOHOMISH IRENE VARNEY MORAN , being first duly sworn on oath deposes and says that s he is over the age of eighteen (18) years and is competent to testify as to the matter stated herein. There is no official newspaper or other newspaper printed and published within the City. In accordance with RCW 35A.12.160, on the 20 day of July , 1983, affiant posted true and correct copies of the attached Ordinance No. 2384 , passed by the City Council on the 19 day of July , 1983, at the official posting places for City notices which are the public bulletin boards at the following locations: Edmonds Civic Center 250 Fifth Avenue North Edmonds, Washington 98020 Edmonds Public Library Civic Center, 250 Fifth Avenue North Edmonds, Washington 98020 Edmonds Branch of United States Post Office 201 Main Street Edmonds, Washington 98020 DATED this 20 day of July , 19 83. SUBSCRIBED AND SWORN to before me this q D day of N&farPublic in and for the State f Washington, residing at -z'�