Ordinance 1028ORDINANCE NO.
AN ORDINANCE PROVIDING FOR THE IMPROVEMENT OF 3 STREET, FROM
PINE STREET TO THE RESERVOIR, FIR STREET, FROM NINTH AVENUE TO
SEVENTH AVENUE, EIGHTH AVENUE, FROM FIR STREET TO SPRUCE STREET,
AND PINE STREET, FROM SEVENTH AVENUE TO EIGHTH AVENUE, IN THE
CITY OF EDMONDS, BY INSTALLING STANDARD CURBS AND GUTTERS AND
BY PAVING THE STREET WITH ASPHALTIC TYPE CONCRETE, AND ANY
NECESSARY GRADING OR BASE PREPARATION AND RELATED WORK NECES-
SARY TO MAKE A COMPLETE EMPROVEMENT IN ACCORDANCE WITH CITY
• STANDARDS; CREATING AN ASSESSMENT DISTRICT; CREATING A CONSTRUC-
TION FUND THEREFOR; CREATING A LOCAL IMPROVEMENT DISTRICT FUND
THEREFOR; PROVIDING THAT PAYMENT FOR SUCH IMPROVEMENT BE MADE
BY SPECIAL ASSESSMENT ON SAID DISTRICT UNDER "TIE MODE OF PAYMENT
BY BONDS; PROVIDING THE RATE OF ASSESSMENT SHALL BE FI' -ED ON THE
BASIS OF THE SPECIAL BENEFITS CONFERRED AS SET FORTH IN ,t. C. W.
35.44.040; AND FURTHER PROVIDING FOR PAYMENT BY THE CITY OF COSTS
EXCEEDING THE ENGINEER'S ESTIMATE BY MORE THAN TEN PER CENT.
WHEREAS, by Resolution of Intention No. 171 passed by the City Council
of the City of Edmonds on September 3, 1963, proposing a focal improvement
district as hereinafter set out, an(: doing all other work necessary in connection
therewith to make a complete improvement in accordance with the plans and speci-
fications prepared by the City Engineer, a hearinj, date was set to consider suc'i
impro-mement, uio
WbE REAS, a' said hearing on the preliminary assessment roll on said
local i•nprovzment as provided by Resolution of Intention N 171, 46- written
nt >c r.aa were filed,
NOW, THEREFORE, THF CITY COUNCIL OF THE CITY OF EDMONDS
JOI'!�7 ORDAIN:
Section 1. Ttiat B Street, from Pine Street to the Resevoir, Fir Street
in ... Ninth Avenue to Seventh Avenue, Eighth Avenue from Fir Street to Spruce
• .%re,' : id Pine Street from Seventh Avenue to Eighth Avenue, in the City of
Edn•(,nus, be :...proves' by installing standard curbs and gutters and by paving the
street with asphalti, tlpe coneretc, and ark necessary grading or base preparation
and re!ate,.' work necessary to make a complete improvement in accordance with
rit% standards.
Sec . n 2. That the cost and expense of such improvement shall be borne
by :end assessed against tltu property included in the assessment district created
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in accordance with law, and provided the rate of assessment shall be as set forth
in A.C.W. 35.44.040; PROVIDED. in the event the cost of the said improvement
shall exceed by more than ten per cent the engineer's preliminary- estimate, the
City of Edmonds shall pay, from its Street Fund, 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
final 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 rea: ssessing the property in the
local improvement district, then the Council may, at its discretion, decide to
absorb the cost of such inequities and adjustments.
Section 3. There is hereby established a local improvement district to be
c aIle d Local Improvement District No. 123, which district shall include the
following described property, to -wit:
Beginning at the intersection of the centerline of Spruce Street and the
centerline of 8th Avenue; thence east 300.00 feet; thence south to the centerline
of Pine Street; thence west to the extended east line of Lot 10, Block 2, Yost's
First Addition to Edmonds as recorded in volume 8, page 6, records of Snohomish
County, Washington; thence south 330.00 feet; thence east to the centerline of
9th Avenue; thence south 480.00 feet; thence west to the west margin of C Avenue;
thence south 120.00 feet; thence west to the east margin of 8th Avenue; thence
south 60.00 feet; thence west 205.00 feet; thence south 60.00 feet; thence west
310.00 feet; thence north 60.00 feet; thence west 175.00 feet to the centerline
of 7th Avenue; thence north to the centerline of Pine Street; thence continue
north 140.00 feet; thence east 330.00 feet; thence north to the centerline of
Spruce Street; thence east to the point of beginning, Snohomish County, Washington.
Section 4. A special fund is hereby created, to be called Construction Fund
for Local Improvement District No. 123. 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 herehy created, to be called Local Improvement
District Fund No. 123, which shall consist in the aggregate 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 fund shall be paid the bonds, 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 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 saidCity.
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MAYOR
ATTEST:
Acting CITY CLERK
Passed:--/-`=----.� 3.------
Published:
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Filed with City Clerk: /i "_-_--_____-
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