Ordinance 2678 - Laserfiche WebLink

• • 4 • • • ORDINANCE No. An Ordinance amending Ordinance No. 1439 entitled "An Ordinance relating to the making of local improvements to be paid for in whole or in part, directly or indirectly, by assessments upon the lots or parcels of land benefited by such improvement, providing for the establishment of local improvement districts for the purpose of paying therefor, prescribing the mode in which the charge upon the respective lots and parcels of land shall be assessed, and repealing all ordinances and parts of ordinances, in conflict herewith, " as amended, by adding thereto a section to be known as Section 18A and declaring an amergency. THE CITY OF EVERETT DOES ORDAIN: Section 1: That Ordinance No. 1439 as amended, be amended by adding a section thereto, to be known as Section 18A, which shall read as follows: Section 18A. In any local improvement district where any portion of the cost of such improvement is to be paid for by the federal Government, or any agency thereof, the City Clerk shall not later than the 25th day of the following month deliver to the contractor money or warrants in an amount equal to Eighty-five percent . (85%) of such estimate issued by the Commissioner of Public '+orks as provided in Section 18 of this Ordinance. In case warrants are issued they shall be drawn against the local improvement district fund under which the work is being done and shall bear interest at the rate of four percent. per annum from date to the time fixed in the proposal for the completion of the contract, plus ninety days alloyed for the approval of the assessment roll and issue of bonds, beyond which the City shall not allow interest . Said warrants shall be redeemed either in cash or by local i ; provement bonds authorized to be issued in said local improvement district. When warrants are issued as herein provided, no assignment form shall be issued to the contractor as provided in Section 18 of this Ordinance. This section shall apply to all local improvements where contracts have heretofore been let and not completed for any improvement in any local improvement district as well as to any local improvement hereafter provided for in any local improvement district. Section 2: It is necessary that the above section be enacted for the purpose of complying with the regulations of the Federal Government in regard to local improvements herein referred to. Section 3: An emergency is hereby declared to exist and this Ordinance shall take effect upon its passage and publication. Mayor Attest: City Clerk Passed: 1936 published , 1936.