Ordinance 682i'
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_ U` L';At S'i"ti r ' EAST OF
T !:ALF 0" BLOC i_ TWO, AL-
_ i TT1'PLATTED P?GPER-
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Ln'__"IOaIN OF A'.i r1IGFT INCH LAT-
ERAL ..,..
?.A. HOLES, INLETS,
A iD A?PLMt
CE..SAK TO MAi4 A
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'CA Thz SAID IM-
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_ "i. i ;JPE-,TY IN SAID IM -
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_ .: BUNDS ;spit I;A ;'.ERIAL
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OTHEii EXPENSES, ALL Ii;
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::U. 12b PASSED BI TIL: CITY
J
JUL-*
19Kb; CREATING AY ASSESS-
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JID Th-tEFOR; CREATING A LC-
-!AL 1yP301BA'L: _ !,
.STRICT _-7,:,i,
, :'.;i.:'EFOit,
AND P30VIDIIIG THAT PPs'iaNT
FOa S'Ch 1N.P-W',r::._
.T BE NADE6Y
SPLCIALL ASSE3S:•4.^sT U' SAID DISTRICT
I.TIdDEYTHE i%ODE O;
PAY71ELT BY BONDS,
AND
P"DVIDING ThE itATE OF ASSESS-
MENT STALL E FIXED oN Tri 'ASIS
0. Tib;
SPr:ClAL ;-E't-'FITS CONFERRED AS
SET FORTL II: R.C.W- 35.414.0140.
WHEREAS, by Resolution of Intention,.o. 126 passed by the City
Council of the City of Edmonds on July 5, 1956, proposing a local improve-
ment district as shown and olitlined a.ove, and doing all other work nec-
essary in connection therewith to mage a complete improvement in accordance
with the plans and specifications prepared by the City Enpineer, and
WFEREAS, at the hearing on the Prel_m:.iary Assessment Roll on
said local improvement as provided by Resolution of Intention No. 126,
�,p _ written objections had been filed,
NOW, Tim :1^QRE, T,:E -' TY 00' 'aj!L OF ".':!x, C1Tz 0_' U:.UNDS
DOES ORDAIN:
Section 1. That Cedar Street between Block 1 and the North half
of Block 2 of Alpert B. Lord's irandview Addition, toFether with the fol-
lowini- described property located easterly of the said Crandview Addition:
Beginningat a point 1480 feet east of then,rewest corner of northeast quarter
of section 25, township 2';, north, rani -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 beRinninw, Snohomish County, Washington, be improved by the con-
Otruction of an eight inch lateral sanitary sewer together with the necessary
manholes, inlets and appurtenances, an 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 a4rainst 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. 35-44-040-
-1-
Section 3. 7.at there is hereby established a local improve: -lent
district to be called Local Improvement District No. 78, which distri.:t
shall include the following described property, to -wit:
Cedar Street between Block 1 an,i the 1vorth half of Block 2 of Albert
B. Lord's Grandview Addit'on, toeether with the followin;r described
property located easterly of the said randview Addit'_on: besinninc
at a point 4('0 feet east of the northwest corner of the northeast
quarter of sect.'on 25, towi.ship 27, north, Rance 3 East, W.M., t_,ence
east 200 feet; thence south 24.5 feet; thence west 200 feet; thence
• north 24.5 feet to the point of bek-inning, 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 ne paid by cash warrants the costs of the im-
provement as the same shall ecome due.
Section 5. A special fund is hereby created to be called Local
Improvement Dis-rict Fund No. 78, which shall consist in the aggregate
of the several amounts assessed, levied and collected on the several lots
and parcels of land in sa'd local improvement district an,3 the proceeds
of the sale of bonris of the said dist-pct. 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 such irprovement shall be
defrayed by special assessment payable in ten egl;al anr.,tal 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
ofrom date of issue, stiall be issued in payment of the costs and expenses
of such improvement, or t.e City of Edmonds may, at its election, sell
said bonds and make payment in cash in the ma_ner provided by law and
ordinancps of said city. I
t� 1
/ MAY OR
Attest:
City Clerk
Passed:�G«,,�
Publ i -,.ed • lT .-�� Y /f'S'� -2-