Ordinance 682u' ;L';Ad STREET EAST OF
!:ALF On BLOC?_ TWO, AL -
THE TT?'PLATTED PROPER-
L. : Ln'_"IoN OF A'.i EIGHT INCH LAT-
ERAL . , . _ JSA' ?.A. HOLES, INLETS,
AuD APPURT. .. ;D• " ,ECE-SARZ TO MAKE A
COMPL , : TILE SAID IM-
. 1:, I' .. 'Ci
PRO',-.: PEC:I "i i JPE:TY IN SAID IM-
PRC'r �' :.._ : BONDS ;spit MATERIAL
PSEii, _ ... H. i�:. . ..: ()MEd EXPENS .S, ALL IL
A 'C L u P 0 U. 126 PASSED BY TU CITY
0 co1 EDP: .. JITL : , 1956; CREATING AN ASSESS-
^.E T DIS H1 1; .:`i!,G A ' HTLO. JND THEREFOR; CREATING A LC -
'AL '.a_:'EFON, AND PROVIDIiiG THAT PAVs.a,NT
FOa SUCH 1N.PAOVE:._..T i'E NADE BY SP.bC1ALL ASSESSMENT ON SAID DISTRICT
TINDER THE MODE O PAYMELT BY BONDS, AND P'i0VIDI.;G THE RATE OF ASSESS-
MENT SHALL E FIXED ON Ti AS]S 0: TEE SPr jAL 12NEFITS CONFERRED AS
SET FORT?' I.': R.C.W. 35.4 .0140.
WHEREAS, by Resolution of Intention bo. 126 passed by the City
Council of the City of Edmonds on July 5, 1956, proposing a local improve-
ment district as shown and outlined a.ove, and doing all other work nec-
essary in connection therewith to make a complete improvement in accordance
with the plans and specifications prepared by the City Engineer, and
WHEREAS, at the hearing on the Prel_m ary Assessment Roll on
said local improvement as provided by Resolution of Intention No. 126,
Al., written objections had been filed,
NOW, T E':EFQRE, THE :] TY CQ"::JIL OF T:i 01TY 0_' ED oNDS
DOES ORDAIN:
Section 1. That Cedar Street between Block 1 and the North half
of Block 2 of Alpert B. Lord's G-randview Addition, together with the fol-
lowing described property located easterly of the said (-randview Addition:
Beginningat a point 480 feet east of therti,ritwest corner of northeast quarter
of section 25, township 2, north, rarij-e 3 east, W.M., thence east 200 feet;
thence south 245 feet; thence west 200 feet; thence north 2145 feet to the
point of berinnin4*, Snohomish County, Washi-rton, be improved by the con-
•truction of an eight inch lateral sanitary sewer together with the necessary
manholes, inlets and appurtenances, anN such ot:.er work as may be necessary
to make a complete improvement.
Section 2. That the cost and expense of such improvement shall be
borne by and assessed against the property included in the assessment dis-
trict created in accordance with law, and provided the rate of assessment
shall be as set forth in ::.C.W. 35.1414.0140.
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Section 3. ".at there is hereby established a local improvement
district to he called Local Improvement District No. 78, which district
shall include the followinr described property, to -wit:
Cedar Street between Block 1 and the North half of Block 2 of Albert
B. Lord's Grandview Addition, toeether with the followin;r described
property located easterly of the said randview Addition: beginning
at a point 4P0 feet east of the northwest corner of the northeast
quarter of section 25, township 27, North, Rance 3 East, W.M., tence
east 200 feet; thence south 245 feet; thence west 200 feet; thence
• north 245 feet to the point of beginning, Snohomish County, Washing-
ton;
Section 4. A special fund is hereby created to be called Con-
struction Fund for Local Improvement District No. 78. Into said funds
shall be paid the proceeds from the sale of interest-bearinf- warrants
by the City of Edmonds to the purchasers of sai"' warrants. Out of said
construction fund shall to paid by cash warrants the costs of the im-
provemert as the same shall ecome due.
Section 5. A special fund is hereby created to be called Local
Improvement District Fund I7o. 78, 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 bonds of the said district. Out of said fund shall be
paid the bonds, the interest thereon, and the entire cost of such improve-
ment.
Section o. The cost and expense of sue' improvement shall be
defrayed by special assessment payable in ten egl;a1 anr.‘lal installments,
witr, interest thereon at no more than the rate of five per cent per annum,
payable annually, under the mode of payment by bonds, as provided by law
and the ordinances of said City. Bonds bearing interest at the rate of
no more than five per cent per annum, payable on or before twelve years
rom date of issue, shall be issued in payment of the costs and expenses
of such improvement, or ;,.e City of Edmonds may, at its election, sell
said bonds and make payment in cash in the ma..ner provided by law and
ordinances of said city.
Attest: C f t X,? t.,-
City Clerk
Passed: Al 7 /5s.
Publis'.ed:
MAYOR
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