Ordinance 986•
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ORDINANCE NO.
AN ORDINANCE APPROVING AND CONFIRMING THL• ASSESSMENT AND ASSESS-
MENT ROLL OF LOCAL IMPROVEMENT DISTRICT NO. 115 FOR THE IMPROVEMENT
OF CERTAIN PROPERTY IN THE CITY OF EDMONDS BY INSTALLATION OF A
WATERMAIN, TOGETHER WITH RELATED WORK NECESSARY TO MAKE A COM-
PLETE IMPROVEMENT, ALL IN CORDANCE WITH ORDINANCE NO. 937 OF THE
CITY OF EDMONDS; LEVYING AN ASSESSMENT ON ACCOUNT THEREOF AGAINST
THE SEVERAL LOTS, TRACTS AND PARCELS OF LAND AS SHOWN ON SAID ROL' ;
PROVIDING FOR THE ISSUANCE OF BONDS THEREFOR, AND FIXING THE DATE OF
THE ISSUANCE THEREOF; FIXING THE INTEREST RATE ON THE BO :DS TO BE
ISSUED IN CONNECTION THEREWITH, AND FIXING THE INTEREST RATE ON THE
UNPAID ASSESSMENTS IN SAID LOCAL IMPROVEMENT DISTRICT NO. 115.
THE CITY COUNCIL OF THE CITY OF EDMONDS DOES ORDAIN!`
Section 1. That the assessment and assessment roll of local improvement district
No. 115 for the improvement of the following described property:
Beginning at the intersection of the south margin of Edmonds Street and the east
margin of Olym;ic Avenue in the City of Edmonds; thence south 100.0n feet; thence
east to a point 150.00 feet east of the east margin of 12th Ave.; thence northerly
parallel to and 150.00 feet east (A the east margin of ] 2th Ave. to a point 162.2 feet
north of the south line of tract 31, Puget Sound Machinery Depot Five Acre Tracts, as
recorded in vol 5, page 47, records of Snohomish County, Washington; thence west
to the west margin of 12th Ave; thence soutl•'rly along the west margin of 12th Avenue
to the south line of said tract 31; thence west 150.00 feet; thence southerly parallel
to and 150.00 feet west of the west margin of 12th Ave. to a point 150.00 feet north
of the north margin of Edmonds Street; thence westerly parallel to and 150.00 feet
north of the north margin of Edmonds Street to the east margin of Olympic Avenue;
thence south to point of beginning, Snohoinish County, Washington
by the installation of an eight inch cast iron watermain, beginning at the intersection
of Edmonds Street and Olympic Avenue, thence east on Edmonds Street to 12th Avenue;
thence northerly on 12th Avenue to connect to the existing watermain in the vicinity of
Sierra Street, together with related work necessary to make a complete improvement,
in accordance with city standards, all in accordance with Ordinance No. 937, as the
same now stands, be and the same is hereby in all things approved and confirmed.
Section 2. That each of the lots, tracts and parcels of land, or other property
• shown on said roll, is hereby declared ro be specially benefited by said improvement
in at least the amount charged against the same, and that the assessment appearing
against the same is in proportion to the several assessments appearing upon said
roll, and there is { •reby levied an assessment against each lot, tract and parcel of
land and other property appearing upon said roll in the amount finally shown and
charged against the same thereon.
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Section 3. That the first i.ay of August, 1963, be and the same is
hereby fixed as the date of the issuance of the bonds required to be issued on account
of said improvement.
Section 4. That the bonds to be issued in connection with and to pay
the costs of local improvement district No. 115 of the City of Edmonds have been
sold and will be delivered locally.
Section 5. That the interest rate on the said bonds in said local im-
provement district 115 be and the same is hereby fixed at 6% (five per cent) per annum,
and the interest rate on the unpaid assessments in said local improvement district
115 be and the same is hereby fixed at six (6(70) per cent per annum.
ATTEST:
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City Cle# k
Passed:1�--
Published: ��CL4� _Z4,
Filed with City Clerk: