Loading...
Ordinance 1334ORDINANCE NO. tJJq AN ORDINANCE OF THE CITY OF EDMONDS„ WASHINGTON* ORDERING THE INSTALLATION OF SIDEWALKS ON THE WEST SIDE OF FIFTH AVENUES INCLUDING SUB -GRADE,_ NECESSARY FILLING AND GRADING.,, EMBANKMENT AND STRUCTURES AND NECESSARY APPURTENANCES IN ORDER TO MAKE A COMPLETE IMPROVEMENTt ALL WITHIN THE CITY OF EDMONDS,, WASHINGTON, PURSUANT TO THE PROPERTY OWNERS' PETITION THEREFOR; ESTABLISH- ING LOCAL IMPROVEMENT DISTRICT NO. 162; PROVIDING THAT PAYMENT FOR SAID IMPROVEMENT BE MADE IN PART BY SPECIAL ASSESSMENT ON PROPERTIES IN SAID DISTRICT PAYABLE BY THE MODE OF "PAYMENT BY BONDS"; AND PROVIDING FOR THE ISSUANCE AND SALE OF LOCAL IM- PROVEMENT DISTRICT WARRANTS REDEEMABLE IN CASH AND LOCAL IMPROVEMENT DISTRICT BONDS, OR IN LIEU THEREOF INSTALLMENT NOTES. WHEREAS, a Petition has been filed with the City Council, signed by the owners of property aggregating a majority of (1) the lineal frontage upon the improvement, and (2) the area within the proposed district, setting forth the nature and territorial extent of the proposed improvement, the mode of payment, and what portion of lineal frontage upon the im- provement and of the area within the proposed district is owned by the petitioners as shown by the records in the office of the Auditor of Snohomish County, petitioning for the con- struction and installation of concrete sidewalks, sub -grade, necessary filling and grading, embankment and structures and necessary appurtenances in order to make a complete improve- ment on the west side of Fifth Avenue within the City of Edmonds, Washington, and WHEREAS., the consulting city engineers have caused an estimate to be made of the cost and expense of the proposed improvement and have certified said estimate to the City Council, a description of the boundaries of the district, a statement of what portion of the cost and expense of the improvement should be borne by the property within the proposed district, a statement in detail of the local im- provement assessments outstanding or unpaid against the property under the proposed district, and a statement of the aggregate actual evaluation of the real estatiq including 25/ of the actual valuation of the improvement in the proposed district, according to the valuation last placed upon it for the purpose of general taxation; and WHEREAS, the City Council deems it in the best interest of the City and of the owners of the property within the local improvement district that said improvement petitioned for, as hereinafter described, be carried out in that a local improve- ment district be created in connection therewith, now, there- fore, THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTONi, DO ORDAIN,, as follows: Section 1. It is hereby ordered that the following im- provement be carried out, to wit: "The installation of concrete sidewalks, sub -grade, necessary filling and grading, embankment and struc- tures and necessary appurtenances in order to make a complete improvement according to city standards on the following described streets and avenues within the City of Edmonds: Fifth Avenue fronting on Lots 9, 10 and 11, Block 2, City Park Addition, together with the south 2 feet of Lot 12, Block 2, City Park Addition, all situated in the City of Edmonds, Snohomish County, Washington." All the foregoing shall be in accordance with plans and specifications therefor prepared by the consulting city engi- neers. -2- Section 2. There is hereby created and established a local improvement district to be called "Local Improvement District No. 162 of the City of Edmonds, Washington," which district is described as follows: Lots 9, 10 and 11, Block 2, City Park Addition, together with the south 2 feet of Lot 12, Block 2, City Park Addition, all situated in the City of Edmonds, Snohomish County, Washington. Section 3. The estimated cost and expense of said im- provement is hereby declared to be the sum of $7,000.00 of which sum the City will pay the estimated sum of $2,000.00. The cost and expense of said improvement, including the cost and expense of all engineering, legal, inspection, advertis- ing, publication of notices, cost of acquisition, and other expenses incidental thereto, shall be borne by and assessed against the property specially benefited by such improvement included in the local improvement district established, em- bracing, as near as may be, all properties specially benefited by such improvement, provided, in the event the total cost of said improvement shall exceed $7,OOO.00, the City of Edmonds, shall pay sums sufficient to provide the difference between the actual cost of said improvement and the sum of $5,OOO.00 to be borne by and assessed against the property specially benefited; provided further, that at the time fixed for hear- ing objections to tle confirmation of the assessment roll, and at the times to which the hearing may be adjourned, the City Council may correct, revise, raise, lower, change or modify the roll or any part thereof, or set aside the roll and order the assessment to be made de novo and at the conclusion thereof confirm the roll by Ordinance. -3- Section 4. The cost and expense of said improvement shall be assessed upon all the property in the district in accordance with the special benefits conferred thereon in proportion to the area and distance back from the marginal line of the streets and avenues that prove in accordance with the zone -and -termini method of assessment provided by law. Section 5. Local Improvement District warrants shall be issued in payment of the cost and expense of the improve- ment herein ordered, such warrants to be payable out of the "Local Improvement Fund District No. 162." hereinafter created, to bear interest from the date thereof at a rate to be here- after fixed by ordinance not to exceed six percent per annum and to be refunded in cash, and/or by local improvement dis- trict bonds herein authorized to be issued, or in lieu thereof installment notes. The cost and expenses of the improvement up to but not to exceed $5,000.00 as hereinbefore provided, shall be defrayed and the bonds, or in lieu of bonds, the installment notes, shall be redeemed by the collection of special assessments to be levied and assessed upon the prop- erty within said district, payable in ten equal annual install- ments, with interest at the rate to be hereafter fixed by Ordinance not exceeding 6% per annum under the mode of, "pay- ment by bonds," or in lieu of bonds the issuance of installment notes. The bonds or installment notes shall bear the rate of interest at not more than 6% per annum, payable on or before 12 years after the date of issue. Section 6. All the work necessary to be done in connec- tion with the making of said improvement shall be done by and made by contract upon competitive bids and the City shall have and observes the right to reject any and all bids. Section 7. There is hereby created and established for Local Improvement District No. 162 a special fund fo be known and designated as "Local Improvement Fund, District No. 162" into which fund shall be deposited the proceeds from the sale of interest bearing warrants drawn against said fund which may be issued and sold by the City, and the aggregate of the several amounts assessed, levied and collected on the lots and parcels of land of said local improvement district; and against which fund shall be issued cash warrants for the costs and ex- penses in connection with said improvement as the same become due, not to exceed the sum of $5,000.00 as hereinbefore provided, and against which fund shall be paid the bonds for installment notes and the interest thereon. APPROVED: yam' •LV f ON MAXWELL, MAYOR i ATTEST: J � CITY CLERK Passed by the City Council: October 17, 1967 Filed with the City Clerk: October 17, 1967 Published: October 25, 1967. -5-