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TIMMIM' --. <br /> July 29,1981 <br /> COUNCIL BILL NO.817-306 <br /> FINAL relating t andof the City of Everett,Washington, <br /> sewer system. <br /> additionsAN ORDINANCE <br /> ng <br /> nd adopting a <br /> system or plan of to-and betttermerntts a extensions <br /> of the sanitary sewerfacilities of that c stem;de- <br /> claring <br /> estimated cost ;converting <br /> UtilityLocal Improvement CalImprovement <br /> ict No.1;authorizing the issurance and sale .. <br /> of approximatelybonds <br />. or plan;creating a construction and <br /> zing <br /> wd; izin cnterest-bearing warrants drawn upon onstruissuance of ctionfund pending rthe sale of such revenue bonds. <br />, Bruce Jones,Assistant <br /> Citxplai <br />• <br />. passed an ordinance rngAa would te <br /> ies to <br /> onvertI <br />� Everett <br /> district). At this <br /> G time thereis conversion <br />; notincluding• <br /> tsevere finance consequences for failure this proposed ordinance offers more protecoty owner's obligation to pay his pion <br /> [he Cv ybut if nbyis <br />• <br />( Mr.Jones also said that incbond luded <br /> this <br /> sbted is an amount for thefirst year's interest payment which est <br /> tyear. In <br /> o i casein thereC deficiency <br /> for one reserve account, <br />. which also will be invested and earning interest. <br />: Nonpayment of assessments <br /> will result <br /> rate plus <br /> penalty than the to dissuade <br /> property <br /> owner from not paying. mlaccelerate <br /> wilbeom0 property owner will lose the option o spreadv <br /> out payments over 2years. <br />• Dennis Derickson,of the Planning Department,spoke of the Southwest Everett <br /> in that area.he aidis wdeevello devill he a prime target for elopment <br /> interest <br /> is optimism and industrial expand the Ciipidential,commercial <br /> growth <br /> and felt this would be a investmentgood sas it would <br /> Fenn.,• <br /> eco <br /> Fick Seattle3-year <br /> reviewed assessment Mae. <br /> 1) figures and possible - rper all <br />, property owners id and alsovthe <br /> event <br /> a50 atheir assessment, <br /> do aaffeebetter collateral than the L.I.D.bunds <br /> and were <br /> medr . ored more protection. <br /> to pay for the e teconversion to an u.b.l.p.should voted <br /> 1lhere should be enough mdney coming in <br /> ' o =end of evertcer that certain <br /> properties <br /> ^ o r == <br /> 1 Councilman Aldcroft was <br />. • icractosure might turn out to be <br /> City would have <br /> up assessments for that property which might be difficult to surplus. <br /> I. Fseun,a <br />