Ordinance 1510ORDINANCE NO. rs10
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. NO. 167 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. 1499 of the City of Edmonds
confirming the final assessment roll on L.I.D. No. 167
of the City of Edmonds was passed on the 6th day of
October, 1970, and
WHEREAS, the cash pre -payment period for said LID
expired on the 13th day of November, 1970, 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 assess-
ments 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. 167 of the City of Edmonds as shown by the
Final Assessment Roll thereon was in the amount of
$43,652.59; that the sum of $2,378.00 was paid in cash
during the pre -payment period for assessments; that the
City of Edmonds participated and paid the sum of
$31,064.59, leaving a balance of $10,210.00.
Section 2. That in payment of the said balance of
$10,210.00, bonds numbered one (1) to twenty-one (21)
inclusive, shall be issued in connection with and to pay
the said sum under LID No. 167, and shall be in denomina-
tions of $500.00 each, except for Bond No. 1, which shall
be in the denomination of $210.00; that all of said bonds
shall bear interest at the rate of 6% per annum, payable
annually; shall be issued on the 22nd day of December,
1970, and shall be payable on the 22nd day of December,
1982.
Section 3.
That the said bonds shall be sold locally
by the City Treasurer at not less than par and accrued
interest.
MAYOR
ATTEST:
CITY CLERK
PASSED BY THE CITY COUNCIL: November 17, 1970
FILED WITH THE CITY CLERK: November 17, 1970
PUBLISHED: November 25, 1970