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Ordinance 59143 ORDINANCE N0. 591 An Ordinance providing for the improvement of North ,Street from Third Avenue to the intersection with Front Street, and from the said intersection of North Street Front Street, South on Front Street to the Northern terminus of the present Trunk Sewer on Front Street, all in the City of Edmonds, 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 improvements be made by special assessment on the property in said district under the mode of payment by bonds Sor material used, fixed estimate and all other expenses, all in accordance with the petition submitted by the owners of the property within the said District; creating an Assessment District; creating a Local Improvement District Rind therefore, and providing that payment for such improvement be made byspecial assessment on said District under the mode of payment by bonds. MHA,'FLEAS, by petition, duly signed and conforming to law, submitted to the City Council of the City of Edmonds July 19, 1949, petitioning for the improvement, as above outlined, and doing all other work necessary in connection therewith to make a complete improvement in accordance with the plans and specifications prepared by the City Engineer, NOW. THEREFORE, THE CITY COUNCIL OF Tiff CITY OF EDMJNDS DOES ORDAIN: Section 1 That North Street from Third Avenue to Front Street, and Front Street from the intersection with North Street South to the Northern terminus of the present Trunk Sewer on Front Street, all in the City of Edmonds, Washington, be improved by the installation and construction of an eight -inch storm and sanitary sewer together 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 cost and expense of such improvement shall be 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 Improvement District tobe called Local Improvement District No. 62, which District shall include the following described property, to wit: Beginning at a point on the N line of Gov't Lot 2, Sec. 24 Twp 27, R3 EWM, 13- feet W of the intersection of the said N line and the Wly line of Third St; thence 1V on said N line to the intersection of Front St and the N line of said Lot 2; thence Swly on Front St 460 ft; thence Sely 150 ft; thence at rt angles 56.7 ft; thence E 170 ft to the centerline of 2nd St produced; thence NEly along centerline of 2nd St produced 395 ft; thence Ely 150 ft; thence Nely parallel to Third St 188 feet to the Point of Beginning. Section 4. A special fund is hereby created to b ecalled Local Improvement District No. 621which shall oonsist in the aggregate of the several amounts assessed, levied, and collected on the sesreral lots and parcels of land in said Local Improvement District and the proceeds of the sale of the bonds of the said District. Out of said fund shall b e paid the bonds, the interest thereon, and the entire cost of such improvement. Section 5. The costs and expenses of such improvement shall be defrayed by special assessments payable in ten equal installments, with interest thereon at the rate of five (5%( per cent per annum, payable annually, under the mode of payment by bonds, as provided by las and the ordinances of said city. Bonds bearing interest at the rate of five (5) per cent per annum, payable on or before twelve years from date of issue, shall be issued in payment of the costs and expenses 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. Attest; Anita Busch, City Clerk Passes: August 9, 1949 Published: August 11, 1949 Paul'-:McGibb bia :: � ;B,Gayor I hereby certify that the above and foregoing ordinance is a true and correct copy of ZOr< a No.591 City Clerk