Ordinance 1370ORDINANCE NO. t
AN ORDINANCE STATING THAT THE CASH PRE -PAYMENT
PERIOD FOR L.I.D. NO. 153 OF THE CITY OF EDMONDS
HAS EXPIRED; GIVING THE TOTAL OF THE ASSESSMENT
ROSS 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. 1359 of the City of Edmonds
confirming the Final Assessment Roll on L.I.D. No. 153 of
the City of Edmonds was passed on the 16th day of Aprils
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
thereunder should be shown in the City records,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF
EDMONDS DO ORDAIN AS FOLLOWS:
Section 1. That the total cost of Local Improvement
District No. 153 of the City of Edmonds as shown by the
Final Assessment Roll thereon was in the amount of
$50,466.60; that the sum of $2,875.34 was paid in cash
during the pre -payment period for assessments; that the
City of Edmonds participated and paid the sum of $18,628.45,
leaving a balance of $28,962.81.
Section 2. That in payment of the said balance of
$28,962.81, bonds numbered one (1) through twenty-nine
(29), inclusive, shall be issued in connection with and
to pay the said sum under L.I.D. No. 153, and shall be
in denominations of $1,000.00 each, except for Bond No. li
which shall be in the denomination of $962.81; that all of
said bonds shall bear interest at the rate of 5.40% per
annum: payable annually; shall be issued on the lst day
of July, 1968, and shall be payable on the lst,day of July,
1980. 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
IM