Ordinance 1582-89 - Laserfiche WebLink

• • 1 Section 2 . There is created and established a local 2 improvement district to be called Local Improvement District No . 3 729 of the City of Everett, Washington (the "District" ) , the 4 boundaries or territorial extent of which District are more 5 particularly described in Exhibit B, attached hereto and by this 6 reference incorporated herein. 7 Section 3 . The total estimated cost and expense of the 8 improvement is declared to be $375 , 000 , approximately 50 percent 9 of which expense shall be borne by and assessed against the 10 property specially benefited by such improvement included in the 11 District which embraces as nearly as practicable all property 12 specially benefited by such improvement . The balance of such 13 cost and expense shall be advanced by the City pursuant to 14 Ordinance No . 1561-89 and reimbursed from future monthly utility 15 service surcharges within the local improvement district . 16 Section 4 . In accordance with the provisions of RCW 17 35 . 44 . 047 , the City may use any method or combination of methods 18 to compute assessments which may be deemed to fairly reflect the 19 special benefits to the properties being assessed. 20 Section 5 . Local improvement district warrants may be 21 issued in payment of the cost and expense of the improvement 22 herein ordered to be assessed, such warrants to be paid out of 23 the Local Improvement Fund, District No . 729 , hereinafter 24 created and referred to as the Local Improvement Fund, and, 25 until the bonds referred to in this section are issued and - 3 -