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: 522 <br /> ,e <br /> December 21,1988 <br /> ryi <br /> --,'.'.I WHEREAS, the Everett teas Tribune is a eeepaper of general <br /> etrculatlon Sn [he City ofEveretthaving n the queoifioationa <br /> ,t prescribed by Chapter 65.16 RCI:and <br /> WHEREAS, the Everett News Tribune made the lowest and most <br /> k.`Iresponsive proposal to provide the service of publishing legal <br /> notices end ordinances for 1989;and <br /> � : WHEREAS, the Citdesires to establish a procedure for <br /> .i' notifying the public of the preliminary agendas, upcoming hearings <br /> Iand meetings to satisfy the intent of RCN 35.22.288: <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br /> pd CITY OF EVERETT that the Everett News Tribune is hereby e designated <br /> the official newspaper o4 the City of Everett until ycamber 31, <br /> 1989,or thereafter until a successor <br /> is designated. <br /> : In addition, whereecs ssary to accommodate broad <br /> dissemination and/or timely noticefor public meetings and public <br /> hearings, the Council Secretary or the Administration will place <br /> Y advertisements and notices in the Herald. <br /> ':..� Roll was called with all councilmembers voting yes except <br /> 'I Ceuncilmember Stephenson who vas excused. <br /> :I Motion carried. <br /> ii <br /> GUARANTY Jones <br /> CONTRIBUTION <br /> Brian of Public Works reminded council that on May 5, 1987, <br /> the council held a workshop to discuss the issue payment <br /> nts <br /> guarantees for the final assessments for the Merrill Creek Parkway <br /> project or LID No. 726. sOfs the alternatives given by staff to f t <br /> resolve this issue, the apparently pparentiarently preferredthat hat of <br /> increasing the total assessments to include contribution to the <br /> r <br /> city's Guaranty Fund to ss secure <br /> ethe debt. However, the council did <br /> [decide the issue at thattime bur directed staff to proceed with <br /> the project and keep all the options open. <br /> E1: Upon the recommendation P the Finance and Budget Committee, staff <br /> again requests the council's <br /> ncil's direction in resolving this issue. It <br /> appears that all theoptions originally presented to the council <br /> have become impracticable,except that Cr increasing the assessments <br /> '.� to include a Guaranty Fund contribution. Staff there Pore recommends <br /> a policy which would establish a fixed percentage of contribution to <br /> f <br /> the Guaranty Funtl by the participants o4 LID NO. 726 end other <br /> currentand future LID°. The resolution before the council today <br /> �' will take this action following discussion by the council as to the <br /> appropriate percentage o4 Contribution for current and future LIDS. <br /> F'' Moved by Councilmeeter Osecte, a Onded by Counciieaebex Pope to <br /> ,,(_ atlopt the recommendation as presentetl. <br /> Steve Gxidos o4 Harper, McLean 6 Company, Financial Conant for <br /> ,r sultthe city, recommended a contribution to the Guaranty Fund equal to <br /> 108 of the debtor Letters4 Credit securing all properties in the <br />: LID in that amount will, in his opinion, provide adequate <br /> SIR i marketability. He said further increases in the Guaranty Fund may <br /> g 1_ be necessary or future LIDS may find marketability difficult. He <br /> R, <br />