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ORDINANCE NO. /07,3- 4; <br /> AN ORDINANCE of the City of Everett, Washington, <br /> relating to Local Improvement District No . 714"A" ; <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 . 1130-85; and providing for the sale and delivery <br /> of such notes to Harper, McLean & Company, Seattle, <br /> Washington. <br /> WHEREAS, by Ordinance No . 1130-85 passed by the City <br /> Council on April 10, 1985 , and approved by the Mayor on <br /> April 11, 1985 , the City ordered the improvement in the area of <br /> Everett Mall Way in the City by the acquisition, construction <br /> and installation of standard street system and sanitary sewer <br /> system improvements all in accordance with Resolution No . 2547 <br /> of the City Council, established Local Improvement District No . <br /> 714"A" , provided that payment for the improvement be made by <br /> special assessments upon the property in the district payable by <br /> the 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 . 1175-85, the City issued <br /> its $2 , 680 , 000 par value of Local Improvement District No . <br /> 714"A" Bond Anticipation Notes dated October 22 , 1985 , and <br /> maturing on October 1 , 1986 (the " 1985 Notes" ) , for the purpose <br /> of paying a part of the cost of carrying out the improvements <br /> ordered in Local Improvement District No . 714"A" ; and <br />