Ordinance 593ORDINANCE NO 593
AN ORDINANCE providing for the improvement of Fourth Avenue from
the South line of Dayton Street where it intersects with said Fourth
Avenue, South along Fourth Avenue to a point where the said Fourth
Avenue intersects with Walnut Street, in the City of Edmonds, by the
construction of curbs and gutters, blacktop surfacing, and other such
work as may be necessary to make a complete street improvement; pro-
viding that the payment for said.improvement be made by special assess-
ment on the property in said district under the mode of payment by bonds
for material used, fixed estimates, and all other expenses, all in
accordance with the petition submitted by the owners of the property
within the said district; creating an assessment district; creating
a Local Improvement District Fund therefore, and providing that payment
for such improvement be made by special assessments on said district
under the mode of payment by bonds.
WHEREAS, by petition, duly signed and conforming to law, submitted
to the City Council of the City of Edmonds July 27, 1949, petition-
ing for the improvement, as above outlined, and doing all other work necessary in
connection therewith to make a complete improvement in accordance
with the plans and specifications prepared by the City Engineer, NOW,
THEI EFORE,
THE CITY COUNCIL OF THE CITY Cb' EDIAIOTvIS DOES ORDAIN:
Section 1. That Fourth Avenue from its intersection with Dayton
Street, South along said Fourth Avenue to its intersection with Walnut
Street, in the City of Edmonds, V'Vashington, be improved by the construc-
tion of curbs and gutters, blacktop surfacing, and such other work as
may be necessary to make acomplete street improvement.
Section 2: That the cost and expense of such improvement shall be
borne by and assessed against the property included in the assessment
district created in accordance with law.
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Section 3. That there is hereby established a local improvement
district to be called Local Improvement District No. 63 which
District shall include the following described property, to wit;
"Beginning at a point 170 feet N and 160.7 feet W
of the SE corner of Sec. 23, Twp. 27N R3 Eft, more
commonly described as the intersection of the North
line of Walnut Street and the center line of the
alley between Fourth and Fifth Avenues in the City
of Edmonds; thence N along center line of said alley
to the S line of Dayton Street; thence W along S line
of Dayton Street to the center line of the alley be-
tween Third and Fourth Avenues; thence S along said
center line to the N line of Walnut Street; thence
E to true POB, all in the City of Edmonds, Snohmomish
County, Mashington.
Section 4. A special fund is hereby created to be called Local
Improvement District Fund No. 63, which shall consist in the aggregate
of the several amounts assessed, levied, and collected on the several
lots and parcels of land in said Local Improvement District and the
proceeds of the sale of the bonds of the said District. Out of said
fund shall be paid the bonds, the interest thereon, and the entire
cost of such improvement.
Section 5. The cost and expense of such improvement shall be
defrayed by special assessment payable in ten (10) equal installements
with interest thereon at the rate of five (5%) per cent per annum, pay-
able annually, under the mode of payment by bonds, as provided by law
and the ordinances of said city. Bands bearing interest at the rate
of five (5%) per cent per annum, payable on or before twelve years
from date of issue, shall be issued in payment of the costs and ex-
penses of such improvement, or the City of Edmonds may, at its election,
sell said bonds and make payment in cash in the manner provided by law
and the ordinances of said City.
Attest: Anita Busch, City Clerk
Passed: August 16, 1949
Published: August 18, 1949
Ernest H. Vollan, Mayor Pro tem
I hereby certify that the above
and foregoing is a true and correct
copy of Ordinance %o. 5e3
,
City Clerk