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Ordinance 03510$DILANCE 1 0.351 ( L.I.D. 35 ) An Ordinance providing for the improvement of the North side of Sprague Street from Fourth Street to Sixth Street in the City of Edmonds, Snohomish County, Washiroon, by constructing thereon a five-foot concrete sidewalk and doing such other work as may be necessary in connection therewith, all in accordance with the plans and specifications prepared under the direction of the City Engineer of the City of Edmonds, and pursuant to that cer- tain petition filed with said City Couroil on the fifteenth (15th) day of May, 1923, and which petition is signed by the owners of a majority of the lineal frontage of such improvements and the owners of a majority of the area within the Local Improvement Dis- trict to be hereinafter created for such improvement; creating a Local Improvement District for said improvement and providing that the payment shall be "Payment by Bond" plan. Be it ordained by the City Council of the City of Edmonds, as follows: SECTION 1: That the r orth side of Sprague Street from Fourth Street to Sixth Street be improved by construction thereon of a five-foot concrete sidewalk,and doing such other work as may be necessary in connection therewith in accordance with plans and specifications prepared by the City Engineer of said City and in _ accordance with and pursuant to that certain petition for said improvement filed with said City Cou.neil of Edmonds on the fif- teenth (15th), day of May, 1923, and which petitior. is signed by - the owners of a majority of the lineal frontage upon said im- provement and the owners of a majority of the area of the Local Improvement District to be created for such improvement. SECTION 2: That said improvement shall be constructed along and in front of the following described property, which property will be effected by said improvement and will be included within the Local Improvement District hereinafter created and to which property the assessments hereinafter provided for, for the pay- ment of such improvement will be limited; Lots 12 to 24 inclusive, Block "H", Plat of Edmonds. 352 SECTION 3: That the cost of said improvemert above mer- tioned shall be assessed agairst the above described property, and against all lo" , tracts and parcels of lard lying and be- ing within the Local Improvement District, hereirafter created, in proportion to the berelits derived therefrom, as provided by the Ordinances of the City of Edmonds, and the laws of the State of Washington;. SECTION 4: That the mode of payment shall be order the "Paymert by Bond" plar:, by which plan Bonds of said Local Im- provement District shall be issued payable in ten (10) equal annual installments with interest at the rate of eight (8%) percent per arnum. SECTIOF 5: That there is hereby created a Local Improve- ment District to be,krowr as Local Improvement District 1..o.35, which District shall irelude all the property heretofore de- scribed in Section 2wo (2) of this Ordinance. SECTIOT, 6: That there be,and hereby is, created a local improvemert fund to be known and designated as Local Improve- mert District Fund to.35. SECTIOL T: That said improvemert shall be carried on under the supervision andldirection of the City Council and the City Engineer, and in accordance with the plans and specifications row on file with the ,City Clerk of the City of Edmonds. SECTIOE S; That the Bonds to be issued as hereinbefore provided may be delivered and sold to the Cortractor doing the work of such improvement in payment of his services, or they may be sold by the City Clerk at private sale, provided, how- ever, that the returre from the sale of said Bonds must net the par value of the same plus accrued interest, and the proceeds thereof shall be applied in payment of the costs and expenses of such improvemert. SECTION 9: That the special assessments to be levied as hereinbefore described shall be payable in ten (10) equal an- r_ual irstallments, with interest at the rate of not exceeding eight (8%) percer•t per arnum, and such installments shall be collected it the marr_er provided by the Ordinances of the City of Edmonds, and the laws of the State of Washington. SECTION 10: This Ordirarc a shall I hereby correct copy certify that of Ordirlanc e the above and foregoing is a true and t 0.351 of the City of Edmonds, bash. Geo.M.Leyda, City Clerk.