Ordinance 1528ORDINANCE NO. If: f)
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. NO. 164 OF THE CITY OF EDMONDS
HAS EXPIRED. GIVING THE TOTAL OF THE ASSESS-
MENT 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.
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WHEREAS, Ordinance No. 1508 of the City of Edmonds
confirming the final assessment roll on L:I.D. No. 164 of
the City of Edmonds was passed on the 3rd day of November,
1970, and
WHEREAS, the cash pre -payment period for said LID
expired on the 18th day of December, 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 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. The total cost of Local Improvement
District No. 164 of the City of Edmonds as shown by the
Final Assessment Roll thereon was in the amount of $835,440.31
(after City participation in the project in the amount of
$81,347.93), and the sum of $141,417.76 was paid in cash
during the prepayment period for assessments, leaving a
balance of $694,022.55.
Section 2. In payment of said balance of $694,0.22.55
bonds numbered one (1) to six hundred ninety-five (695),
inclusive, shall be issued in connection with and to pay
CO, /S
the said sum under L.I.D. No. 164 and shall be in denomina-
tions of $1,000 each, except for Bond No. 1, which shall be
in the denomination of $22.55; and all of said bonds shall
bear interest at the rate of 6.20% per annum, payable
annually; shall be issued on the 20th day of January, 1971
and shall be payable on the 20th day of January, 1983.
ATTEST:
CITY CLERK
APPROVED AS TO FORM:
7-Y ATTORNEY
PASSED BY THE CITY COUNCIL: January 5, 1971
FILED WITH THE CITY CLERK: January 5, 1971
PUBLISHED: January 13, 1971
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