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.
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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.
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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.
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