Ordinance 1599-89 - Laserfiche WebLink

• 1 ORDINANCE NO. 1599-89 2 3 AN ORDINANCE relating to Local Improvement District No . 725 ; fixing the amount, form, date, 4 interest rates , maturity and denominations of the Local Improvement District No . 725 Bonds; providing 5 for the sale and delivery thereof to Harper, McLean & Company in Seattle, Washington; and fixing the inter- est6 rate on Local Improvement District No . 725 assessment installments . 7 8 THE CITY OF EVERETT DOES ORDAIN: 9 Section 1 . The total amount of the assessment roll in 10 Local Improvement District No . 725 in the City of Everett, 11 Washington (the "City" ) , created under Ordinance No . 1312-86, 12 passed by the City Council and approved by the Mayor on December 10 , 1986 , was $1, 192 , 159 . The 30-day period for making 13 cash payments of assessments without interest in the District 14 15 expired on June 5, 1989 , and there were no assessments paid in 16 cash. Local Improvement District No. 725 Bonds (the "Bonds" ) , 17 therefore, shall be issued in the total principal sum of 18 $1, 192 , 159 . The Bonds shall be dated August 1, 1989 , shall mature on August 1, 2011, and shall be numbered from 1 to 238, 19 inclusive, in the manner and with any additional designation as 20 the Bond Registrar (collectively, the fiscal agencies of the 21 State of Washington located in Seattle, Washington, and New 22 York, New York) deems necessary for the purpose of identifica- 23 tion. Bond No . 1 shall be in the denomination of $7 , 159 and 24 Bonds Nos . 2 to 238 , inclusive, shall be in the denomination of 25