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ORDINANCE NO. / ,97- J ' <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 /> improvements pursuant to property owners ' petition therefor, <br /> established Local Improvement District No . 721, provided that <br /> payment for the improvement be made by special assessments upon <br /> the property in the district payable by the mode of "payment by <br /> bonds" and provided for the issuance and sale of local improve- <br /> ment district warrants or other short-term obligations redeem- <br /> able by cash and/or by local improvement 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 /> part of the cost of carrying out the improvements ordered in <br /> Local Improvement District No . 721 ; and <br />