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Ordinance 1423ORDINANCE NO,, LiZA3 AN ORDINANCE ORDERING THE IMPROVEMENT OF CERTAIN PROPERTY IN THE CITY OF EDMONDS;I WASHINGTON BY CONSTRUCTION CONCRETE SIDEWALKSZ STANDARD CURBS AND GUTTERSz PROVIDING NECESSARY DRAINAGE AND ANY NECESSARY GRADING OR BASE PREPARATION, RELATED WORK AND EXPENDITURES NECESSARY TO MAKE A COMPLETE IMPROVEMENT IN ACCORDANCE WITH CITY STANDARDS; CREATING AN ASSESSMENT DISTRICT BEING LOCAL IMPROVEMENT DISTRICT No. 174; PROVIDING THE METHOD OF ASSESSMENT OF SAID DISTRICT; SPECIAL ASSESSMENTS UPON THE PROPERTY IN SAID DISTRICTC PAYABLE BY THE MODE OF "PAYMENT BY BONDS"; PROVIDING FOR THE ISSUANCE AND SALE OF LOCAL IMPROVEMENT DISTRICT WARRANTS AND LOCAL IMPROVEMENT DISTRICT BONDS; PROVIDING FOR PAYMENT BY THE SAID CITY OF COSTS EXCEEDING $4.00 PER ZONED FRONT FOOT IN ACCORDANCE WITH THE ZONE -AND -TERMINI METHOD OF ASSESSMENT; AND CREATING A SPECIAL LOCAL IMPROVEMENT FUND:x DISTRICT NO. 174. WHEREAS, by Resolution of Intention No. 224 adopted on March 18, 1969, the City Council of the City of Edmonds declared its intention to create a local improvement district as here- inafter set forth and all work necessary to make a complete improvement in accordance with the plans and specifications prepared under the direction of the city Engineer, and WHEREAS, due notice of the hearing upon said Resolution of Intention No. 224 was given in the manner as provided by law and such hearing was held by the City Council as afore- said, and all persons appearing at said hearing were heard, and all written protests filed with the City Council on or before said date were duly considered and rejected by the City Council, and WHEREAS, the City Council has now determined it to be in the best interests of the City that said improvement as here- inafter described be carried out and that a local improvement district be created in connection therewith, now, therefore , THE CITY COUNCIL OF THE CITY OF EDMONDS., WASHINGTON, DO ORDAIN AS FOLLOWS: Section 1. The following property within the City of Edmonds, Washington is hereby ordered to be improved by the construction of concrete sidewalks, on each side of the street, standard curbs and gutters, providing necessary drainage and any necessary grading or base preparation, related work and expenditures necessary to make a complete improvement in accordance with city standards, as follows: Casper Street from 3rd Avenue to 9th Avenue; 9th Avenue North from Casper Street to Puget Drive; and Puget Drive from 9th Avenue North to 12th Place. The foregoing shall be carried out in accordance with the maps, plans and specifications therefor prepared by Reid, Middleton & Associates, Inc., consulting engineers to said City, copies of which are on file in the office of the City Clerk, and the same are hereby adopted. In addition to said improvements the said streets will be paved with asphaltic type concrete at no cost to Local Improvement District No. 174. Section 2. There is hereby created and established a Local Improvement District, to be called "Local Improvement District No. 174", which district is described as follows and contains the following area, all situate in the City of Edmonds, Snohomish County, Washington: Beginning at the intersection of the South margin of Casper Street and the West margin of 9th Avenue; thence South 300 feet; thence West to the West margin of 7th Avenue; thence South 10 feet; thence West to the East margin of 3rd Avenue; thence Northeasterly along said margin to the North margin of Casper Street; thence North 330 feet; thence East 316 feet; thence North ten feet; thence East to the West margin of 7th Avenue; thence Southeasterly toa point on the East margin of 7th Avenue at a distance of 240 feet Ncr th of the North margin of Casper Street; thence East 130 feet; thence Southeasterly -2- to a point 133 feet incest of the West margin of 8th Avenue and 210 feet North of the North margin of Casper Street; thence East 133 feet; thence South- easterly to a point on the East margin of 8th Avenue 170 feet North of the North margin of Casper Street; thence East 290 feet; thence North 69 feet; thence East to a point 177.487 feet West of the West margin of 9th Avenue; thence North 131.48 feet; thence West 16.76 feet; thence North 133.713 feet; thence West to a point 300 feet West of the West margin of 9th Avenue; thence North to the South line of Lot 9 Laurelhurst Park as recorded in Volume 18 of plats, page 84, records of Snohomish County, Washington; thence East to the Southeast corner of said Lot 9; thence North to the North line of Section 24, T27N, R3E, W.M.; thence East to the centerline of 9th Avenue; thence North 293.45 feet; thence East 200 feet; thence South 40 feet; thence Southeasterly to the most Westerly corner of Lot 4 Taylor Tracts as recorded in Volume 12 of plats, page 91, records of Snohomish County, Wash- ington; thence Southeasterly along the Southerly line of said Lot 4 to a point 90 feet North of the North margin of Puget Drive; thence East 335 feet; thence Northeasterly to a point on the West margin of Olympic Avenue 330 feet North of the North margin of Puget Drive; thence South to a point on the West margin of Olympic Avenue 90 feet North of the North margin of Puget Drive; thence East to the extended West margin of llth Place, thence south to the Southeast corner of Lot 12 Viewland Heights as recorded in Volume 13, page 84, records of Snohomish County, Washington; thence West to the West margin of Olympic Avenue; thence South to a point on the West margin of Olympic Avenue 330 feet South of the South margin of Puget Drive; thence West to a point 300 feet East of the East margin of 9th Avenue; thence South to the extended South margin of Casper Street; thence West to the Point of Beginning. Section 3. The cost and expense of said improvement shall be assessed upon all the property in the District in accordance with the zone -and -termini method of assessment provided by law, not to exceed $4.00 per zoned front foot. Section 4. The estimated cost and expense of the said improvement is hereby declared to be $130,000-00 of which the City will pay the estimated sum of $88,904.80. The cost and expense of said improvement, including all labor and materials required to make a complete improvement, all engineering, sur- veying, legal, inspection, ascertaining of ownership of the lots or -,parcels of land included in the assessment district -3- advertising, mailing and publication of notices, accounting, administrative, printing, costs 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 property specially benefited by such improvement; PROVIDED in the event the total cost of said improvement shall exceed $4.00 per zoned front foot in accordance with the zone -and -termini method of assessment, the City of Edmonds shall pay sums sufficient to provde the difference between the actual costs of said improvement and the said $4.00 per zoned front foot; PROVIDED,, further, 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, 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. Section 5. Local improvement district warrants shall be issued in payment of the portion of the cost and expense of the improvement herein ordered to be specially assessed, such warrants to be payable out of the "Local Improvement Fund, District No. 174" hereinafter created, to bear interest from the date thereof at a rate not to exceed 8% per annum and to be redeemed in cash, and/or by local improvement district bonds herein authorized to be issued. The costs and expenses of the improvement up to but not to exceed $4.00 per zoned front foot, shall be defrayed and the bonds shall be redeemed by the collection of special assessments to be levied and assessed upon the property within said district, payable in 10 annual installments, with interest at a rate to be here- after fixed by ordinance not exceeding 8% per annum under the mode of "payment by bonds The bonds shall bear the rate of interest at no more than 8% per annum, payable on or before 12 years after the date of issue. Section 6. All the work necessary to be done in con- nection with the making of said improvement shall be done by and made by contract upon competitive bids and the City shall have and reserves the right to reject any and all bids. Section 7. There is hereby created and established for Local Improvement District No. 174, a special fund to be known and designated as "Local Improvement Fund, District No. 174" 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 in 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, not to exceed $4.00 per zoned front foot as provided herein, and against which fund shall be paid the bonds and the interest thereon. APPROVED: MAYOR ATTEST: CITY CLERK O PASSED BY THE CITY COUNCIL: May 6, 1969 FILED WITH THE CITY CLERK: May 6, 1969 PUBLISHED: May 14, 1969 -5-