Ordinance 1831ORDINANCE NO. 1831
AN ORDINANCE OF THE CITY OF EDMONDS, WASHINGTON,
STATING THAT THE CASH PRE -PAYMENT PERIOD FOR L.I.D.
NO. 194 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. 1814 of the City of Edmonds
confirming .the final assessment roll on L.I.D. No. 194 of
the City of Edmonds was passed on the 27th day of January,
1976, and
WHEREAS, .the cash pre -payment period for said L.I.D.
expired on the. 12th day of March, 1976, 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. 194 of the City of Edmonds as shown on the Final Assessment
Roll thereon was in the amount of $11,625.20, and the sum of
$4,263.20 was paid in cash during the pre -payment period for
assessments, leaving a balance of $7,362.00.
Section 2. In payment of the said balance of $7,362.00,
bonds numbered one (1) to twenty-nine (29), inclusive, shall
be issued in connection with and to pay the said sum under
L.I.D. No. 194, and shall be in denominations of $250.00 each,
except Bond No. 1, which shall be in the denomination of $362.00;
and all of said bonds shall bear interest at the rate of 5.75% per
annum, payable annually; shall be issued on the lst day of May,
1976, and shall be payable on the lst day of May, 1988.
Section.3. Said bonds shall be sold locally by the Finance
Director at not less than par and accrued interest.
APPROVED:
r
OR , PRO TEM
ATTEST:
CITY CLERK, IRENE ARNEY MORAN
FILED WITH THE CITY CLERK: March 17, 1976
PASSED BY THE CITY COUNCIL: March 23, 1976
PUBLISHED: March 31 1976