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Ordinance 1409ORDINANCE NO. AN ORDINANCE OF THE CITY OF EDMONDS, WASHINGTON, ORDERING THE INSTALLATION OF SANITARY SEWERS AND ALL NECESSARY APPURTENANCES, INCLUDING PIPE, VALVES, FITTINGS, SURFACE GRADING AND REPLACEMENT OF PAVEMENT WHERE NECESSARY AND RELATED WORK NEC- ESSARY TO MAKE A COMPLETE IMPROVEMENT IN ACCORD- ANCE WITH CITY STANDARDS, ALL WITHIN THE CITY OF EDMONDS, WASHINGTON, PURSUANT TO THE PROPERTY OWNERS] PETITION THEREFOR; ESTABLISHING LOCAL IM- PROVEMENT DISTRICT NO. 173; PROVIDING THAT PAYMENT FOR SAID IMPROVEMENT BE MADE BY SPECIAL ASSESS- MENT ON PROPERTIES IN SAID DISTRICT PAYABLE BY THE MODE OF "PAYMENT BY BONDS"; AND PROVIDING FOR THE ISSUANCE AND SALE OF LOCAL IMPROVEMENT DISTRICT WARRANTS REDEEMABLE IN CASH AND LOCAL IMPROVEMENT DISTRICT BONDS. 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 sanitary sewers and all nec- essary appurtenances, including, pipe, vales, fittings,sur- face grading and replacement of pavement where necessary and related work necessary to make a complete improvement in accordance with City standards, on certain properties 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 06 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 estate, including 25 percent 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 Engineer has also determined that the petition is sufficient and the facts -therein set forth are true; 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, WASHINGTON, DO ORDAIN AS FOLLOWS: Section 1. It is hereby ordered that the following improvement be carried out, to -wit: The installation of sanitary sewers and all nec- essary appurtenances, including pipe, valves, fittings, surface grading and replacement of pavement where necessary and related work nec- essary to make a complete improvement in accord- ance with city standards on 164th Street South- west from 72nd Avenue West a distance of approxi- -2- mately 550 feet East; and 72nd Avenue West from 164th Street Southwest a distance approximately 850 feet South. All the foregoing shall be in accordance with the plans and specifications thereof adopted by the consulting city engineers. Section 2. There is hereby created and established a Local Improvement District to be called "Local Improve- ment District No. 173 of the City of Edmonds, Washington," which district is described on Exhibit "A" attached hereto and incorporated herein as if set forth in full. Section 3. The estimated cost and expense of said improvement is hereby declared to be the sum of $26,000. The entire cost and expense of said improvement, including the cost and expense of all engineering, legal, inspection, advertising, 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, embracing, as near as may be, all properties specially benefited by such improvement, provided, that at the time fixed for hearing objections to the confirmation of the assessment roll, and at the times to which the hearing may be adjourned, the City Council may correct, revose, 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. 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 -3- 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. 173," hereinafter created, to bear interest from the date thereof at a rate to be here- after fixed by ordinance not be exceed six percent per annum and to be refunded in cash, and/or by local improvement district bonds herein authorized to be issued. The cost and expenses of the improvement shall be defrayed and the bonds shall be redeemed by the collection of special assess- ments to be levied and assessed upon the property within said district, payable in 10 equal annual installments, with interest at the rate to be hereafter fixed by ordinance, not exceeding six percent per annum under the mode of "pay- ment by bonds," payable on or before 12 years after the date of issuance. 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 observe the right to reject any and all bids. Section 7. There is hereby created and established for Local Improvement District No. 173 a special fund to be known and designated as "Local Improvement Fund, District No. 173" 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 expenses in connection with said improvement as the same become due, and against which fund shall be paid the bonds and the interest thereon. MAYOR M ATTEST: '�La AV CITY CLERK PASSED BY THE CITY COUNCIL: January 21, 1969 FILED_MITH THE CITY CLERK: January 21, 1969 PUBLISHED: January 29, .1969. -5- FXHTRTT "A" -' Bog inning at the Northeast Corner of Tract 85 of !'eadowda I e Beach, as recorded in Volume 5, page 38 Records of Snohomish County, Washington; thence South to the Southeast corner of said tract; thence West to the Southwest corner of said trace; thence North to a point on the West line of tract 69 said plat at a distance of 120 feet North of the S.W. corner of said tract 69; thence East to a point 120 feet West of the East line of said tract 69; thence South to the South line of Tract 69; thence Southwest to a point on the North line of Tract 85 at a distance of 131.1 feet West of the Northeast corner of Tract 85; thence East to Point of Beginning.