Ordinance 886•
t
ORDI NANCE NO,
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT PERIOD FOR LID 97
OF THE CITY OF EDMONDS at S EXPIRED; GIVING TIC: TOTAL OF THE
ASSESSMENT ROLL THEREON AND THE AMOUNT RECEIVED AS CASH PRE-
PAYMENT OF ASSESSMENTS; AND STATING THE AMOUNT AND NUMBER OF
BONDS TO BE ISSUED IN CONNECTION THEREWITH.
WHEREAS, Ordinance No. 877 of the City of Edmonds confirming the
final £sessment roll on L.I.D. No. 97 of the City of Edmonds was passed on the
18th a. y of April, 1961, and
WHEREAS, the cash pre -payment period for said L.I.D. expired on the
27th day of May, 1961, and
WHEREAS, the number and the amount of the bonds in the said Local Im-
provement district should be incorporated in and made a part of the City records
and fixed by Ordinance, and
WHEREAS, the total of the final assessment roll and the amount received
as cash pre -payment of assessments thereunder should be shown in City records,
NOW, THE REFORE, THE CITY COUNCIL OF THE CITY OF EDMONDS
DOES ORDAIN AS FOLLOWS:
Section 1. That the total cost of Local Improvement Distri t 97 of the
City of Edmonds as shown by the Final Assessment Roll thereon was in the amount
of $176, 482. 96; that the sum of $72, 161. 70 was paid in cash during the pre -payment
period for assessments, leaving a balance of $10.1, 321. 26,
Section 2. That in payment of the said balance of $104, 3z1 . 26, bonds
numbered one (1) to one hundred five (105), inclusive, shall be issued in connection
with and to pay said sum under LID 97, and shall he in denominations of $1, 000.00,
• each, except for Bond No. 1 which shall be in the denomination of $321. 26; that all
of said bonds shall bear interest at the rate of 4.85% per annum, payable annually,
according to the terms of Ordinance No. 877 -,f the City of Edmonds.
ATTEST:
i
City Clerk
Passed:
Published:
Filed with City Clerk: —7
May,c