Ordinance 1345ORDINANCE NO. 3 �S
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. NO. 150 OF THE CITY OF EDMONDS
HAS EXPIRED,: GIVING THE TOTAL OF THE ASSESSMENT
ROLL THEREON AND THE AMOUNT RECEIVED AS CASH PRE-
PAYMENT OF ASSESSMENT'S; AND STATING THE AMOUNT
AND NUMBER OF BONDS TO BE ISSUED IN CONNECTION
THEREWITH.
WHEREA4,, Ordinance No. 1340 of the City of Edmonds
confirming the final assessment roll on L.I.D. No. 150 of
the City of Edmonds was passed on the 19th day of December,
1967, and
WHEREAS, the cash pre -payment period for said LID ex -
Aired on the 2d day of February, 1968, 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. That the total cost of Local Improvement
District No. 150 of the City of Edmonds as shown by the Final
Assessment Roll thereon was in the amount of $41,480.88; that
the sum of $2,754.00 was paid in cash during the prepayment
period for assessments; that the City of Edmonds participated
and paid the sum of $22,244.88, leaving a balance of $16,482.00.
Section 2. That in payment of the said balance of
$16,482.00, bonds numbered one (1) to thirty-three (33)
inclusive, shall be issued in connection with and to pay
the said sum under LID No. 150, and shall be in denomina-
tions of $500.00 each, except for Bond No. 1, which shall
be in the denomination of $482.00; that all of said bonds
shall bear interest at the rate of 5 1/4/ per annum, pay-
able annually; shall be issued on the lst day of March, 1968,
and shall be payable on the lst day of March., 1980.
Section 3. That the said bonds shall be sold locally
by the City Treasurer at not less than par and accrued
interest.
APPROVED:
ATTEST:
MAYOR
CITY CLERK :/
PASSED BY THE CITY COUNCIL: February 6, 1968
FILED WITH THE CITY CLERK: February 6, 1968
PUBLISHED: February 14, 1968