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Ordinance 692-AORDINANCE NO. 6 9 2 -- A AN ORDINANCE PROVIDING FOR THE IMPROVEMENT OF A PORTION OF SEC- TION 25, TOWNSHIP 27 NORTH, RANGE 3 EAST, W. M. , SNOHOMISH COUNTY, WASHINGTON, DESCRIBED AS FOLLOWS, TO -WIT: BEGINNING AT THE NORTHEAST CORNER OF THE NORTHWEST QUARTER OF THE NORTHEAST QUARTER OF SECTION 2. TOWNSHIP 27 NORTH, RANGE 3 EAST, W. M.: •THENCE WEST 120 FEET; THENCE SOUTH 174.00 FEET; THENCE EAST 5.7b FEET; THENCE SOUTH 191. 53 FEET TO THE NORTH MARGIN OF SPRUCE STREET; THENCE WEST 181.88 FEET; THENCE SOUTH 368 FEET; THENCE WEST 195.68 FEET; THENCE SOUTH 111 FEET; THENCE EAST 134.16 FEET TO THE EAST MARGIN OF 11TH AVENUE; THENCE SOUTH TO THE SOUTHWEST CORNER OF LOT 5, BLOCK 7, PLAT OF ALDERWOOD MANOR NO. 9; THENCE EAST 301.63 FEET TO THE SOUTHEAST CORNER OF SAID LOT 3; THENCE NORTH 420. J0 FEET; THENCE WEST 118 FEET; THENCE NORTH 354.92 FEET TO THE SOUTH LINE OF BOWDOIN WAY; THENCE ALONG SAID BOWDOIN WAY NORTH 39°54r WEST 192.60 FEET TO A POINT OF CURVATURE; THENCE ALONG A CURVE TO THE LEFT, WHOSE RADIUS IS 20.28 FEET FOR A DIS- TANCE OF 49.38 FEET; THENCir: SOUTH 24.57 FEET TO THE SECTION LINE; THENCE WEST 45 FEET TO THE POINT OF BEGINNING.; BY INSTALLING A LATERAL SANITARY SEWER ON 11TH AVENUE FROM WALNUT STREET SOUTHERLY TO SPRUCE STREET AND BY RUNNING LATERALS INTO THE PROPERTY KNOWN AS R. C. MUNGER PLAT NO. 5, TOGETHER WITH THE NECESSARY MANHOLES AND OTHER APPURTENANCES NECESSARY TO MAKE A COMPLETE IMPROVEMENT; CREATING AN ASSESSMENT DISTRICT; CREATING A CONSTRUCTION FUND THEREFOR; CREATING A LOCAL IMPROVE- MENT DISTRICT FUND THEREFOR; PROVIDING THAT PAYMENT FOR S"CH IMPROVEMENT BE MADE BY SPECIAL ASSESSMENT ON SAID DISTRICT UNDER THE MODE OF PAYMENT BY BONDS; ANil PROVIDING THE RATE OF ASSESS- MENT SHALL BE FIXED ON THE BASIS OF THE SPECIAL BENEFITS CONFERRED AS SET FORTH IN R. C. W. 35.44.040. • WHEREAS, by Resolution of Int e:,tion No. 128 passed by the City Council of the City of Edmonds on February 5, 1957 proposing a local improvement district as shown and outlined above, and doing all other work necessary in connec- tion therewith to make a complete improvement in accordance with the plans and specifications prepared by tare City Engineer, and WIIEREAS, at the hearing oil the Preliminary Assessment Roll on said local improvement as pror,ided by Resolut ion of I dention No. 128, no objections were filed, NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF EDMONDS DOES ORDAIN: Section 1: That certain property in the City o' Edmonds be improved by installing a lateral sanitary sewer o 11th Avenue from Walnut Street southerly - 1 - • to Spruce Street and by running lat erals int o t .re property known as R. C. Munger Plat No. 5, together witL. the neessary manholes a,.d other appurtenances neces- sary to make a complete improvement. Section 2. That the cost and expense of such improvement shall be borne by and assessed against t he property included in the assessment district created in accordance with law, and provided the rate of assessment shall be as set forth in R. C. W. 35.44. 040. Section 3: That there is hereby established a local improvement dis- tract to be called Local Improvement District No. 80, which district shall include the following described property, to -wit: A portion of Section 25, Township 27 North, Range 3 East, W. M., Snohomish County, Washington, described as follows, to -wit: Beginning at the Northeast corner of the Northwest Quarter of the Northeast Quarter of Section 25, Township 27 North, Range 3 East, W. M. ; THENCE West 120 feet; thence South 174. 00 feet; thence east 3.78 feet; thence South 191.53 feet to the North Margin of Spruce Street; thence West 181.88 feet; thence South 368 feet; thence West 195.68 feet; thence South 111 feet; t hence Eset 134.16 feet to the east margin of llth Avenue; thence Soutii to the southwest corner of Lot 5, BI ock 7, Plat of Alderwood Manor No. 9; thence East 301.63 feet to the southeast corner of said Lot 5; thence North 420. 50 feet; thence West 118 feet; thence North 354.92 feet to the South line of Bowdoin Way; thence along said Bowdoin Way North 39°54' West 192.60 feet to a point of curvature; thence along a curve to the left, whose radius is 20.28 feet for a distance of 49.38 feet; t hence South 24.57 feet t o the section line; thence West 45 feet to the point of beginning. Section 4: A special fund is hereby crest ed to be called Construction Fund for Local Improvement District No. 80. Into said funds shall be paid the • proceeds from the sale of interest-beari rig warrants by the City of Edmonds to the purchasers of said warrants. Out of said construction fund shall be paid, by cash warrants, the costs of the improvement as toe same shall become due. Section 5: A special fund is hereby crested to be called Local Improvement District Fund No. 80, wai eh shall consi st in the aggrega to of the several amounts assessed, 1 e .ied, and collected on the several lots and parcels of land in said local improvement distri ct a.ld the proceeds of the sale of bonds of the said district. Out of said fund shall be paid the bonds, the interest thereon, - 2 - • and the entire cost of such improvement. Section 6: The cost and expense of such improvement snail be defrayed by; spe,_ial assessment payable in ten (10) equal annual installments, with interest thereon at no more than the rate of five per cent (5%) per annum, payable annually, under the .iodr, of payment by bonds, as provided by law and the ordtaances of said City. Bo.,.is bearing interest at the rate of no more titan f i;e per cent (5%) per annum, payable on or before t.velve (12) years from date of issue, shall be issued in payment of the costs of expenses of suc : 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 ordinances of said City. ATTEST: City Clerk Passed: , 1957 Publis. e�1: /1' 1957 - 3 - MA YOH