Ordinance 1581ORDINANCE NO.
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. NO. 182 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. 1574 of the City of Edmonds
confirming the final assessment roll on L.I.D. No. 182 of
the City of Edmonds was passed on the 21st day of September,
1971, and
WHEREAS, the cash pre -payment period for said L.I.D.
expired on the 5th day of November, 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. 182 of the City of Edmonds as shown by the Final
Assessment Roll thereon was in the amount of $8,850.00, and
the sum of $2,476.28 was paid in cash during the prepayment
period for assessments; the City of Edmonds participated
and paid the sum of $3,251.32, leaving a balance of $3,122.40.
Section 2. In payment of the said balance of
$3,122.40, bonds numbered one (1) to twelve (12) inclusive,
shall be issued in connection with and to pay the said sum
under L.I.D. No. 182, and shall be in denominations of
$250.00 each, except for Bond No. 1, which shall be in the
denomination of $372.40. All of said bonds shall bear
interest at the rate of 6-1/2% per annum, payable annually,
shall be issued on the 15th day of December, 1971 and shall
be payable on the 15th day of December, 1983.
Section 3. Said bonds shall be sold locally by the
Deputy City Treasurer at no less than par and accrued interest.
APPROVED:
H. H. HARRISON
MAYOR
ATTEST:
IRENE VARNE�MOR
CITY CLERK
PASSED BY THE CITY COUNCIL: 11-16-71
FILED WITH THE CITY CLERK: 11-16-71
PUBLISHED: 11-24-71
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