Ordinance 1394bORDINANCE NO.13 �__
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. NO. 160 OF THE CITY OF EDMONDS
HAS EXPIRED, GIVING THE TOTAL OF THE ASSESSMENT
ROLL THEREON AND THE AMOUNT RECEIVED AS CASH PRE-
PAYMENT OF ASSESSMENTS; AND STATING THE AMOUNT
AND NUMBER OF BONDS TO BE ISSUED IN CONNECTION
THEREWITH.
WHEREAS, Ordinance No. 1384 of the City of Edmonds
confirming the final assessment roll on L.I.D. No. 160 of
the City of Edmonds was passed on the 3rd day of September,
1968, and
WHEREAS, the cash pre -payment period for said LID ex-
pired on the 18th day of October, 1968, and
WHEREAS, the denominations of the bonds, and their date
of payment and issue for the said Local Improvement District
should be incorporated in and made a part of the City records
and fixed by Ordinance, and
WHEREAS, the total of the final assessment roll and the
amount received as cash pre -payment of assessments thereunder
should be shown in the City records,
NOW, THEREFORE., THE CITY COUNCIL OF THE CITY OF EDMONDS
WASHINGTON, DO ORDAIN AS FOLLOWS:
Section 1. That the total cost of Local Improvement
District No. 160 of the City of Edmonds as shown by the Final
Assessment Roll thereon was in the amount of $23,229.69, that
the sum of $3,571.30 was paid in cash during the pre -payment
period for assessments; that the City of Edmonds participated
and paid the sum of $8,723.69, leaving a balance of $10,934.70.
Section 2. That in payment of the said balance of
$10,934.70, bonds numbered one (1) to twenty-two (22)
inclusive, shall be issued in connection with and to pay
the said sum under LID No. 160, and shall be in denomina-
tions of $500.00 each, except for Bond No. 1, which shall
be in the denomination of $434.70; that all of said bonds
shall bear interest at the rate of 5 1/4% per annum, pay-
able annually; shall be issued as of the lst day of December,
1968, and shall be payable on the lst day of December, 1980.
Section 3. That the said bonds shall be sold locally
by the City Treasurer at not less than par and accrued
interest.
APPROVED:
MAYOR
ATTEST:
CITY CLERK
PASSED BY THE CITY COUNCIL: November 5, 1968
FILED WITH THE CITY CLERK: November 5, 1968
PUBLISHED: November 13, 1968
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