Ordinance 1401ORDINANCE NO, `fv
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. NO. 140 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. 1391 of the City of Edmonds
confirming the final assessment roll on L.I.D. No. 140 of
the City of Edmonds was passed on the 15th day of October,
1968, and
WHEREAS, the cash pre -payment period for said LID ex-
pired on the 29th day of November, 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
WASHINGTONO DO ORDAIN AS FOLLOWS:
Section 1. That the total cost of Local Improvement
District No. 140 of the City of Edmonds as shown by the
Final Assessment Roll thereon was in the amount of $17,033.59;
that the sum of $3,119.72 was paid in cash during the pre-
payment period for assessments; that the City of Edmonds
participated and paid the sum of $3,998.17, leaving a bal-
ance of $9,915.70.
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Section 2. That in payment of the said balance of
$9, 915.70, bonds numbered one (1) to twenty (20) inclusive,
shall be issued in connection with and to pay the said sum
under LID No. 140, and shall be in denominations of $500.00
each, except for Bond No. 1, which shall be in the denom-
ination of $415.70; that all of said bonds shall bear
interest at the rate of 5 1/4% per annum, payable annually;
shall be issued on or about the lst day of January, 1969,
and shall be payable on or about the lst day of January,
1981.
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: December 3, 1968
FILED WITH THE CITY CLERK: December 3, 1968
PUBLISHED: December 11, 1968
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