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Ordinance 1601ORDINANCE NO.�Co�� AN ORDINANCE ORDERING THE IMPROVEMENT OF CERTAIN PROPERTY IN THE CITY OF EDMONDS BY CONSTRUCTING CONCRETE SIDEWALKS, STANDARD CURBS AND GUTTERS, BY PAVING THE STREET WITH ASPHALTIC TYPE CONCRETE, PROVIDING NECESSARY DRAINAGE AND ANY NECESSARY GRADING OR BASE PREPARATION AND RELATED WORK NECESSARY TO MAKE A COMPLETE IMPROVEMENT IN ACCORDANCE WITH APPLICABLE CITY STANDARDS; CREATING AN ASSESSMENT DISTRICT, BEING LOCAL IMPROVEMENT DISTRICT NO. 190; PROVIDING THE PAYMENT FOR SAID LOCAL IMPROVEMENT BE MADE BY SPECIAL ASSESSMENT UPON THE PROPERTY OF SAID DISTRICT, PAYABLE BY THE MODE OF "PAYMENT BY BONDS," NOT TO EXCEED $4.00 PER ZONE FRONT FOOT, THE BALANCE TO BE PAID FROM MONEY AVAILABLE TO THE CITY OF EDMONDS; PROVIDING FOR THE ISSUANCE AND SALE OF LOCAL IMPROVEMENT DISTRICT WARRANTS AND LOCAL IMPROVEMENT DISTRICT BONDS; AND CREATING A LOCAL IMPROVEMENT FUND, DISTRICT NO. 190. WHEREAS, by Resolution of Intention No. 237 adopted on the 14th day of March, 1972, the City Council of the City of Edmonds declared its intention to create a local improvement district as hereinafter set forth and all work necessary to make a complete improvement in accordance with the plans and specifications prepared by the City Engineer, and WHEREAS, due notice of the hearing upon said Resolu- tion of Intention No. 237 was given in the manner as provided by law and such hearing was held by the City Council as aforesaid, and all persons appearing at said hearing were heard, and WHEREAS, the City Council has now determined it to be in the best interests of the City that said improvement as hereinafter 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, by paving the street with asphaltic type concrete, providing necessary drainage and any necessary grading or base preparation and related work necessary to make a complete improvement in accordance with applicable city standards as follows: 228th Street S.W. from 76th Avenue W. to the east city limits. The foregoing shall be carried out in accordance with the maps, plans and specifications therefor prepared by Reid, Middleton & Associates, Inc., consulting engineers for this project, copies of which are on file in the office of the City Clerk, and the same are hereby adopted. Section 2. There is hereby created and established a local improvement district to be called "Local Improvement District No. 190;' the boundaries of which are described as follows: Beginning at the Southwest corner of Section 29, T27N, R4E, W.M., thence East 30.0 feet to the True Point of Beginning, thence Northerly parallel to the centerline of 76th Ave. W. 180.0 feet, thence Easterly parallel to the centerline of 228th St. S.W. to the East boundary of the SW 1/4 SW 1/4 SW 1/4 of said Section 29, thence southerly to the South margin on 228th St. S.W., thence Easterly to the Westerly margin of the Pacific Northwest Traction Co. Railway right-of-way, thence Southerly along the West margin of said right-of- way to the Northeast corner of Lot 15, Block 3 of Evergreen Addition to Lake Ballinger according to plat thereof recorded in Volume 15 of Plats, page 58, records of Snohomish County, Washington, thence Westerly parallel to the centerline of 228th St. S.W. to the West margin of 75th Ave. W., thence Southerly along the South boundary of Lot 16, Block 1 of said Evergreen Addition to Lake Ballinger, to the Southeast corner of said Lot 16, thence Westerly parallel to 228th St. S.W. to the East margin of 76th Ave. W., thence Northerly to the True Point of Beginning. -2- 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 zone front foot and the balance to be paid from monies available to the City of Edmonds, including that granted from the Urban Arterial Fund of the State of Washington. Section 4. The estimated cost and expense of said improvement lying within the proposed district is hereby declared to be $31,551.00, of which the City of Edmonds will pay the estimated sum of $25,725.68. The cost and expense of said improvement, including all labor and materials required to make a complete improvement, all engineering, surveying, legal, inspection, ascertaining of ownership of the lots or parcels of land included in the assessment district, advertising, mailing and publication of notices, accounting, administrative, printing, costs of acquisition, and other expenses in- cidental thereto, shall be borne by and assessed against the property specially benefited by such improvement including in the local improvement district established, embracing, as near as may be, all property specially benefited by such improvement, in the estimated sum of $5,825.32, representing $4.00 per zone front foot, PROVIDED, further that at the time fixed for hearing objections to the confirmation of the assessment roll, and at the time 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. skin 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. 190" hereinafter created, to bear interest from the date thereof at a rate not to exceed eight percent 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 in the estimated sum of $5,825.32 as provided herein, shall be defrayed and the bonds shall be redeemed by the collection of special assessment to be levied and assessed upon the property within said district, payable in ten equal annual installments, with interest at the rate to be hereafter fixed by ordinance not exceeding eight percent per annum under the mode of "payment by bonds." The bonds shall bear the rate of interest at no more than eight percent per annum, payable on or before twelve years after the date of issue. Section 6. All the work necessary to be done in connection with the making of said improvement shall be done and made by contract upon competitive bids and the City shall have and reserve the right to reject any and all bids. Section 7. There is hereby created and established for Local Improvement District No. 190, a special fund to be known and designated as "Local Improvement Fund, District No. 190" 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 -4- and collected on the lots and parcels of land in said local improvement district; and against which funds shall be issued cash warrants for the costs and expenses in connection with said improvement as the same may become due in the estimated sum of $5,825.32 provided herein, and against which funds shall be paid the bonds and the interest thereon. APPROVED: MAYOR ATTEST: CITY CLERK PASSED BY THE CITY COUNCIL: May 16, 1972 FILED WITH THE CITY CLERK: May 16, 1972 PUBLISHED: May 24, 1972 -5-