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ORDINANCE NO. /,f77- Q , <br /> AN ORDINANCE of the City of Everett, Washington, <br /> relating to Local Improvement District No . 721; <br /> authorizing the issuance and sale of local improve- <br /> ment district bond anticipation notes pending the <br /> receipt of the proceeds of the local improvement <br /> district bonds authorized to be issued by Ordinance <br /> No. 1178-85 ; and providing for the sale and delivery <br /> of such notes to Harper, McLean & Company, Seattle, <br /> Washington. <br /> WHEREAS, by Ordinance No . 1178-85 passed by the City <br /> Council on October 16 , 1985 , and approved by the Mayor on <br /> October 22 , 1985, the City ordered the improvement of Highway 99 <br /> South (Evergreen Way) from 104th Street SW south to 108th Street <br /> SW by the construction and installation of standard street <br /> system improvements pursuant to property owners ' petition <br /> therefor, established Local Improvement District No . 721, <br /> provided that payment for the improvement be made by special <br /> assessments upon the property in the district payable by the <br /> mode of "payment by bonds" and provided for the issuance and <br /> sale of local improvement district warrants or other short-term <br /> obligations redeemable by cash and/or by local improvement <br /> district bonds ; and <br /> WHEREAS, pursuant to Ordinance No . 1201-85 , the City issued <br /> its $475, 000 par value of Local Improvement District No . 721 <br /> Bond Anticipation Notes dated December 30, 1985 , and maturing on <br /> October 1, 1986 (the " 1985 Notes" ) , for the purpose of paying a <br />