Ordinance 1593-89 - Laserfiche WebLink

r ORDINANCE NO. /5-?..5 "-- AN 57 5 —AN ORDINANCE of the City of Everett, Washington, relating to Local Improvement District No. 726 and making a supplemental appropriation. WHEREAS, by Resolution No. 2799, adopted December 17, 1986, the City of Everett, Washington (the "City"), declared its intention to order the improvement of 60th Street S.W. and Hardeson Road; and WHEREAS, by Ordinance No. 1324-87 passed and approved on January 14, 1987, after notice and hearing in the manner provided by law, the City Council established Local Improvement District No. 726 (the "District") and appropriated the sum of $7,300,000 from various sources to a special construction account created in the Local Improvement District Fund for the District to accomplish the action authorized by such ordinance; and WHEREAS, by Ordinance No. 1570-89, passed and approved on March 15, 1989, after notice and hearing in the manner provided by law, the City Council levied and confirmed assessments and an assessment roll in the District in the total amount of $8,801,824; and WHEREAS, litigation is now pending in the Superior Court of the State of Washington for Snohomish County challenging certain of the assessments levied and confirmed in the District; and WHEREAS, the City Council is of the opinion that a supplemental appropriation should be made to the special construction account heretofore created in the Local Improvement Fund for the District, resulting in a total appropriation of $10,000,000, because of increases in design costs, construction costs, administrative costs, legal costs, and financing costs associated with the improvement and the District which will require further expenditures and additional borrowing;