Ordinance 1617-89 - Laserfiche WebLink

• delivered to the purchaser thereof , to bear interest from the 1 date thereof at a rate to be established hereafter by the City 2 Treasurer, as issuing officer, and to be redeemed in cash and/or 3 by local improvement district bonds herein authorized to be 4 issued, such interest-bearing warrants to be hereafter referred 5 to as "revenue warrants . " In the alternative, the City 6 hereafter may provide by ordinance for the issuance of other 7 short-term obligations pursuant to Chapter 39 . 50 RCW. 8 The City is authorized to issue local improvement district 9 bonds for the District which shall bear interest at a rate and 10 be payable on or before a date to be hereafter fixed by 11 ordinance . The bonds shall be issued in exchange for and/or in 12 redemption of any and all revenue warrants issued hereunder or 13 other short-term obligations hereafter authorized and not 14 redeemed in cash within twenty days after the expiration of the 15 thirty-day y- y period for the cash payment without interest of 16 assessments on the assessment roll for the District . The bonds 17 shall be redeemed by the collection of special assessments to be 18 levied and assessed against the property within the District, 19 payable in annual installments , with interest at a rate to be 20 hereafter fixed by ordinance under the mode of "payment by 21 bonds , " as defined by law and the ordinances of the City. The 22 exact form, amount , date, interest rate and denominations of 23 such bonds hereafter shall be fixed by ordinance of the City 24 25 -4-