Ordinance 722iRDIN,iNCE NO. %! ,
AN ORDINANCE PROVIDING FOR THE IMPROVEMENT OF WALNUT STREET IN THE
CITY OF EDMONDS FROM S7dVENTH AVENUE TO NINTH :.VENUE BY INSTALLING
A LATERAL SANITnRY SEWER ON WALNUT STREET FROM SEVEWTH AVENUE TO
NINTH AVENUE, TOGETHER WITH THE NECESSARY MANHOLES AND OTHER APPUR-
TEN&NCES NECESSARY TO MAKE A COMPLETE SEWER IMPROVEMENT, AND TO
FURTHER IMPROVE THE SAID WiiLNUT STREET FROM SEVENTH AVENUE TO NINTH
AVENUE BY GRADING AND LEVELING THE SAME AND INSTALLING A GRAVELLED
STREET OF APPROPRIATE WIDTH, TOGETHER WITH THE NECESS„RY DITCHES
AND OTHER APPURTENANCES NECESSARY TO MAKE A COMPLETE GRAVELLED STREET
• IMPROVEMENT= CREATING AN nSSESSMENT DISTRICT; CREaTING A CONSTRUCTION
FUND THEREFOR; PROVIDING FOR CREATING A LOCAL IMPROVEMENT DISTRICT
FUND THEREFOR; PROVIDING THnT PAYMENT FOR SUCH IMPROVEMENT BE MADE
BY SPECIAL ASSESSMENT CN SnID DISTRICT UNDER THE MODE OF PAYMENT BY
BONDS; AND PROVIDING THE RATE OF ASSESSMENT 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 Intention No. 131 passed by the City
Council of the City of Edmonds on AIril 15, 1958, proposing a local
improvement district as shown and outlined above, 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, and
WHEREAS, at the hearing on the Preliminary Assessment Roll on
said local improvement as provided by Resolution of Intention No. 131
no written objections were filed,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF EDMONDS DOES
ORD,.I N :
Section 1. That certain property in the City of Edmonds be
improved by installing a lateral sanitary sewer on Walnut Street from
Seventh Avenue to Ninth Avenue, together with the necessary manholes
and other appurtenances necessary to make a complete sanitary sewer
• improvement, and to further improve the s& -id Walnut Street from Sev-
enth Avenue to Ninth ,venue by grading and leveling the same and in-
stalling a complete Eravelled roadway, in accordance with City stan-
dards, and such other work as may be necessary to make a complete
gravelled roadway improvement.
Section 2. That the cost and expense of such improvement shall
be borne by and assessed against the property included in the assess-
ment district created in accordance with law, and provided the rate
of assessment shall be as set forth in R.C.W. .55.44.040.
(1)
3ection 3. That there is hereby established a locsl improve-
ment district to be called Local Improvement District No. 85, Which
district shall include the following described property, to -wit:
Blocks Seventy-three (7j) and Ninety-two (9c)
and the South half of Blocks Seventy-four (74)
• and Ninety-one (91), City of Edmonds, Snohomish
County, Wash'ngton.
Section 4. A special fund is hereby created to be callea Con-
Struction Fund for Local Improvement District No. 85. Into said
fund shall be paid the proceeds from the sale of interest-bearing
warrants by the City c.f Edmonds �o the purelasers of said warrants.
Out of said construction fund shall be paid, by cash warrants, the
costs of the improvement as the same shall become due.
Section 5. A special fund is hereby created, to be called local
improvement district fund No. 85, which shall consist in the aggre-
gate 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 funds shall be paid the bonds, the interest thereon, and the en-
tire cost of such improvement.
Section 6. The cost and expense of such improvement shall be
defrayed by special assessment payable in ten (10) equal annual in-
stallments, with interest thereon at no more than the rate of-
(��6) per cent per annum, payable annually, under the mode of pay-
ment by bonds, as provided by law and the ordinances of said City.
Bonds bearing interest at the rate of no more than 4A— (—L—%)
per cent per annum, payable on or before twelve (12) years from date
• of issue, shall be issued in payment of the costs and expenses 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.
1•
,;TTEST: ,�MAYOR
City -Clerk
Passed: �4 Afz .`
Published: