Ordinance 1552ORDINANCE NO. -�ss-
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. NO. 177 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. 1534 of the City of Edmonds
confirming the final assessment roll on L.I.D. No. 177 of
the City of Edmonds was passed on the 2nd day of March,
1971, and
WHEREAS, the cash pre -payment period for said LID
expired on the 9th day of April, 1971, 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 there-
under 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. 177 of the City of Edmonds as shown by the Final
Assessment Roll thereon was in the amount of $17,512.00, after
city participation in the sum of $853.55; the sum of $3,761.40
was paid in cash during the pre -payment period for assessments;
leaving a balance of $13,750.60.
Section 2. In payment of the said balance of
$13,750.60, bonds numbered one (1) to fifty-five (55)
inclusive, shall be issued in connection with and to pay the
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said sum under LID No. 177, and shall be in denominations
of $250.00 each, except for Bond No. 1, which shall be in
the denomination of $250.60. All said bonds shall bear
interest at the rate of 6% per annum, payable annually, and
shall be payable on the 15th day of May, 1983.
Section 3. Said bonds shall be sold locally by the
Deputy City Treasurer at not less than par and accrued
interest.
APPROVED:
MAYOR
ATTEST:
CITY CLERK
PASSED BY THE CITY COUNCIL: April 20, 1971
FILED WITH THE CITY CLERK: April 20, 1971
PUBLISHED: April 28, 1971
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