Ordinance 694ORDINANCE NO. /»
AN ORDINANCE FIXING THE INTEREST RATE ON THE
UNPAID ASSESSMENTS IN CONNECTION WITH L. I. D.
#77 OF THE CITY OF EDMONDS; STATING THAT THE
CASH PRE -PAYMENT PERIOD HAS EXPIRED; GIVING
THE NUMBER AND AMOUNT OF BONDS TO BE ISSUED;
AND STATING THAT ThE BONDS WERE SOLD AND DE-
LIVERED TO GRANDE & CO., INC.,
WHEREAS, O: dinance No. 691 of the City of Edmonds confirming the Final
Assessment Roll on L. I. D. No. 77 of the Cityof Edmonds was passed on the 19th
day of February, 1957, and
WHEREAS, the cash pre -payment period under said L. 1. D. expired on the
28th day of March, 1957, and
WHEREAS, the number and theamount of the bonds in the said L. 1. D. should
be incorporated in and made a part of the City records, and fixed by Ordinance, and
WHEREAS, the interest rate on the unpaid assessments has not been fixed
by Ordinance,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF EDMONDS
DOES ORDAIN, as follows:
Section 1. That Bonds, numbers one (1) to fifty (50), inclusive, issued in
connection with and to pay the cost of L.1. D. No. 77, shall be sold and delivered
to Grande & Co., Inc., as they were the lowest and best bidder.
Section 2. That Bond No. 1 shall be in the amount of $565. u2, and Bonds
n.imbers two (2) to fifty (50), inclusive, shall be in the amount of $1, 000.00; ana
all of said bonds shall bear interest at the rate of 4-1/4% per annum, payable
annually, according to the terms of Ordinance No. 67 ; of the City of Edmonds.
• Section 3. That the interest rate on the unpaid assessments in said L. I. D.
No. 77 be and hereby is fixed at 1# a 0% per annum.
jj MAYOR
ATTEST:
City Clerk
Passed
Published: