Ordinance 7140
ORDINANCE NO. _7j), _
AN ORDINANCE FIXING THE INTEREST RATE ON TH2
UNPAID ASSESSMENTS IN CONNECTION WITH L. 1. D.
NO. 79 OF THE CITY OF EDMONDS; STATING THAT
THE CASH PRE -PAYMENT PERIOD HAS EXPIRED;
GIVING THE NUMBER AND AMOUNT OF BONDS TO BE
ISSUED; AND STATING THAT THE BONDS WERE SOLD
AND DELIVERED TO TERRY THOMPSON & COMPANY.
WHEREAS, Ordinance No. 706 of the City of Edmonds confirming the Final
Assessment Roll on L. I. D. No. 79 of the City of Edmonds was passed on the 24th
day of September, 1957, and
WHEREAS, the cash pre -payment period of said L. I. D. expired on the
24th day of October, 1957, and
WHEREAS, the number and the amount of the bonds in the said L. I. D. should
be incorporated in anu made a part of the City records and fixed by Ordinance, and
WHEREAS, the interest rate on the unpaid assessments hay not been f ixed
by Ordinance,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF EDMONDS
DOES ORDAIN, as follows:
Section 1. That Bonds, numbers one (1) to sixteen (16) inclusive,
issued in connection with and to pay the cost of L. I. D. No. 79, shall be sold and
delivered to Terry Thompson & Company as they were the lowest and best bidder.
Section 2. That Bond No. 1 shall be in the amount of $ -573.00- , and
Bonds numbers two (2) to sixteen (16) , inclusive, shall be in the amount
of $1, 000.00 ; and all of said bonds shall bear interest at the rate of five (5%6)
9 per cent per annum, payable annually, according to the terms of Ordinance No.
693 of the City of Edmonds.
Section 3. That the interest rate on the unpaid assessments on said L. I. D.
No. 79 be and the same is hereby fixed at five (5176) per cent per annum.
ATTEST: %. 1
MAYOR
City Clerk
Passed:
Published: _ iY