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• <br /> 1 ORDINANCE NO. /4137-90 <br /> 2 <br /> 3 AN ORDINANCE relating to local improvement <br /> districts ; establishing Consolidated Local <br /> 4 Improvement District No . 3 and Consolidated Local <br /> Improvement Fund, District No . 3 ; fixing the amount , <br /> 5 form, date, interest rates , maturities and <br /> denominations of the Consolidated Local Improvement <br /> 6 District No . 3 Bonds ; providing for the sale and <br /> delivery thereof to Security Pacific Securities , <br /> 7 Inc . , and Harper, McLean & Company in Seattle, <br /> Washington; and fixing the interest rate on local <br /> 8 improvement district assessment installments . <br /> 9 WHEREAS, the City Council of the City heretofore has <br /> 10 created Local Improvement Districts Nos . 726 and 728 for various <br /> 11 <br /> purposes; and <br /> 12 WHEREAS, RCW 35 . 45 . 160 authorizes the establishment of <br /> 13 consolidated local improvement districts for the purpose of <br /> 14 <br /> issuing bonds only and provides that if the <br /> governing body of <br /> 15 any municipality orders the creation of such consolidated local <br /> 16 improvement district, the money received from the installment <br /> 17 payment of the principal of and interest on assessments levied <br /> 18 within the original local improvement districts shall be <br /> 19 deposited in a consolidated local improvement district bond <br /> 20 redemption fund to be used to redeem outstanding consolidated <br /> 21 local improvement district bonds ; NOW, THEREFORE, <br /> 22 THE CITY OF EVERETT DOES ORDAIN: <br /> 23 Section 1 . For the purpose of issuing bonds only, those <br /> 24 local improvement districts of the City of Everett , Washington <br /> 25 <br /> (the "City" ) , established by the following ordinances , <br />