Ordinance 1369ORDINANCE NO.
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. NO. 157 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. 1360 of the City of Edmonds
confirming the Final Assessment Roll on L.I.D. No. 157 of
the City of Edmonds was passed on the 16th day of April,
1968, and
WHEREAS, the cash pre -payment period for said L.I.D.
expired on the 31st day of May, 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 there-
under 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. 157 of the City of Edmonds as shown by the
Final Assessment Roll thereon was in the amount of
$59,836.34; that the sum of $18,578.00 was paid in cash
during the pre -payment period for assessments; that the
City of Edmonds participated and paid the sum of $26,022.04,
leaving a balance of $15,236.30.
Section 2. That in payment of the said balance of
$15,236.30, bonds numbered one (1) to thirty-one (31)
inclusive, shall be issued in connection with and to pay
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the said sum under L.I.D_ No. 157, and shall be in denom-
inations of X500.00 each, except for Bond No. 1, which
shall be in the denomination of $236.30; that all of said
bonds shall bear interest at the rate of 5 1/47o per annum,
payable annually; shall be issued on the lst day of July,
1968, and shall be payable on the 1st day of July, 1980.
Section 3. That the said bonds shall be sold locally
by the City Treasurer at not less than par and accrued
interest.
APPROVED:
MAYOR
ATTEST:
CITY CLERK
PASSED BY THE CITY COUNCIL: June 4, 1968
FILED WITH THE CITY CLERK: June 4, 1968
PUBLISHED: June 12, 1968
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