Ordinance 888ORDINANCE NO.
AN ORDINANCE PROVIDING FOR THE IMPROVEMENT OF CERTAIN PROPERTY
IN THE CITY OF EDMONDS BY INSTALLING TRUNK AND LATERAL SANITARY
SEWERS, TOGETHER WITH THE NCESS.iRY MANHOLES; INLETS AND APPUR-
TENANCES NECESSARY TO MAKE A COMPLETE IMPROVEMENT, ALL IN AC-
CORDANCE WITH THE PETITION SUBMITTED BY THE OWNERS OF THE PROPERTY
WITHIN SAID DISTRICT; ESTABLISHING THE ROUTE THEREFOR; CREATING AN
ASSESSMENT DISTRICT; CREATING A CONSTRUCTION FUND THEREFOR;
• CREATING A LOCAL IMPROVEMENT DISTRICT FUND THEREFOR; PROVIDING
"CHAT PAYMENT FOR SUCH IMPROVEMENT BE MADE BY SPECIAL ASSESSMENT
ON SAID DISTRICT UNDER THE MODE OF PAYMENT BY BONDS; PROVIDING THE
RATE OF ASSESSMENT SHALL BE FIXED ON THE BASIS OF THE SPECIAL BENE-
FITS CONFERRED AS SET FORTh IN R.C.W. 35.44.040; AND FURTHER PROVID-
ING FOR PAYMENT BY THE CITY OF COSTS EXCEEDING THE ENGINEER'S
ESTIMATE BY MORE THAN TEN (10%) PER CENT.
WHEREAS, by petition duly signed and conforming to law, submitted to the
City Council of the City of Edmonds on June 20, 1961, petitioning for the improvement
of certain property as above outlined, property- owners therein have requested the in-
stallation of sewers under a local improvement district,
NOW, THEREFORE, THE CITY COUNCIL OF THE QTY OF EDMONDS
DOES ORDAIN:
Section 1. That certain property in the City of Edmonds be improved by
,he installation of a sanitary sewer, as foll-ws:
Beginning on Daley Street, in the City of Edmonds, at a point apl oximately
350 feet east of Seventh Avenue, thence running southerly to Sprague Street;
thence running both east and west on Sprague Street between 8th and 7th
Avenues to serve any property in said area not already sewered;
together with the nec-ssary manholes, inlets and other appurtenances necessary to
make a complete improvement, in accordance with City standards.
Section 2. That the cost and expense of such improvement shall be borne
by and assessed against the property included in the assessment district created in
0 accordance with law, and provided the rate of assessment shall be as set forth in
R.C.W. 35.44.040; PROVIDED, in the event the cost of the said improvement shall
exceed by more than ten (10%) per cent the engineer's preliminary estimate, the City
of Edmonds shall pay, from its S,_wer and Water Funds, sums sufficient to make up
the difference between the actual cost of the improvement and the engineer's estimated
cost plus ten per cent; PROVIDED, further, that at the time of the hearing on the
fv al assessment roll on said improvement, if the City Council, sitting as a Board
of Equalization, shall determine that certain inequities exist and adjustments are
necessary, but in an amount less than the cost of re -assessing th- property in the
local improvement district, then the Council may, at its discretion, decide to ab-
sorb the cost of such inequities aA adjustment:..
Section 3. That there is hereby established a local improvement district
• tobe called Local Improvement District No. -106, whicl: district shall include the
10 following described property, to -wit:
Lots 21 through 35, inclusive, in Bl ek 84, City of Edmonds,
and Lots 6 through 20, inclusive, in Block 85, City of Eamonds,
according to plat thereof, records of said County; situate in
Snohomish County, State of Washington
Stiction ... A special fund is hereby created, to be called Construction
Fuad for Local Improveme, ` District No. 106. Into said fund shall be paid the
proceeds from the sale of interest-bearing 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 the same shall become due.
Section 5. A special fund is hereby created, to be cal led Local Im-
provement District Fund No. 106, which shall consist in the aggregate of the several
a,nounts assessed, levied and collected on the several lots and parcels of land in the
said Local Improvement District and the proceeds of the sale of bonds of the said
District. Out of said fund shall be paid the bond3 the interest thereon, and the entire
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 installments, with interest
thereon at no more than the rate of six (6%) 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 six (6%) per cent per annum,
payable on or before twelve (12) years from date of issue, shall be issued in payment
of and to defray 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 pro-
vided by law and the ordinances of said City.
�YAYOA -L
ZATTEST:
TY
Passed: Passed:
Published:
Filed with City Clerk:
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