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Ordinance 573ORDITT,LT,TCE NO. 573 An Ordinance providirg for the improvement of Sixth avenue from Glen Street to a poir_t 540 feet North of Glen Street and the alley in Block 99, plat of the City of Edmonds, from Seventh Avenue to Sixth Avenue, by the construction of an eight -inch sanitary and storm sewer together with the necessary manholes, inlets, connecting sewers and appurtenances and such other work as may be necessary to make a complete improvement; providing that the payment for said improvement be made by special assess- ment on the property in said District under the mode of payment by bonds for material used, fixed estimate and all other expenses all in accordance with Resolution of Intention No. 122 of the City of Edmonds; creating an Assessment District; creating a Local Improvement District Fund therefor, and providing that payment for such improvement be made by special assessment on said Dis- trict under the mode of payment by bonds. WHEREAS, by Resolution of Intention No. 122 of the City of Edmonds, the City Council of the said City has declared its in- tention to order the improvement, as above outlined, and doing all other work necessary in connection therewith to make a com- plete improvement in accordance with the plans and specifications prepared by the City Engineer, NOW, THEREFORE , THE CITY OF E MONDS DOES ORDAIN: Section 1. That Sixth Avenue from Glen Street to a point 540 feet North of Glen Street and the alley in Block 99, 21&t of the City of Edmonds, from Seventh Avenue to Sixth Avenue, all in the City of Edmonds, Washington, be improved by the installation and construction of an eight -inch storm and sanitary sewer to- gether with the necessary manholes, inlets, connecting Sewers and appurtenances, and such other work as may be necessary to make a complete improvement. Section 2.: That the costs and expenses of such improvement shallue borne by and assessed against the property included in the Assessment District created in accordance with law. Section 3: That there is hereby established a Local Improve- ment District to be called Local Improvement District No. 61, which District shall include the following described property, to -wit: Beginning at the center of the intersection of Glen Street and Sixth avenue; thence East a distance of 539.7 feet; thence West to an intersection with a line 120 feet East of the Easterly margin of Third Avenue and parallel thereto; thence Southerly along said line parallet to Third Lbenue and 12 0 feet Easterly of the East marginal line therof to an intersection with the center line of Glen Street extended; thence East to the point of -geginning, Also, Beginning at the center of the Intersection of Bell Street and Sixth Avenue; thence idorth. to the center line of Edmonds Street; thence East to the center line of Seventh .venue; thence South to the center line of Bell Street; thence Y1est to the point of beginning, all in the City of Edmonds, Snohomish County, State of Washington. Section 4. A special fund is hereby created to be called Local Improvement District Fund Noe 61, which shall consist in the aggregate of the several amounts assessed, levied and collected on the several losts and parcels of land in said Local Improvement District and the proceeds of the sale of the bonds of the said District. Out of scid fund shall be paid -the bonds, 419 the interest thereon, and the entire cost of such improvement. Section 5: The costs and expenses of such improvment shall he defrayed by special assessments payable in ten a ugl install- ments, with interest thereon at the rate of five (5 percent per annum, payable annually, under the mode of payment by bonds, as provided b7 law and the Ordinances of said City. Bonds bear- ing interest at the rate of five percent (5%) per annum, payable on or before twelve years fromdate of issue, shall be issued in payment of the costs and expense of such improvement, or the City of Edmonds may at its election, sell said bonds and make payment in cash in the manner provided by law and the Ordinances of said City. F. g. Pourtner, Yayor Passes, September 2, 1947, .ktVest: Anita Gust, City Clerk Published, September 4, 1947 I hereby certify that the above and foregoing is a true and correc copy o� ordiance No. 573. ,ity Clerk s