Ordinance 1236-86 - Laserfiche WebLink

ORDINANCE NO. j, -IC AN ORDINANCE of the City of Everett , Washington, relating to Local Improvement District No . 711; fixing the amount , form, date, interest rates , matur- ity and denominations of the Local Improvement District No . 711 Bonds ; providing for the sale and delivery thereof to Harper, McLean & Company in Seattle, Washington; and fixing the interest rate on Local Improvement District No . 711 assessment installments . THE CITY OF EVERETT, WASHINGTON, DOES ORDAIN: Section 1 . The total amount of the assessment roll in Local Improvement District No . 711 in the City of Everett , Washington (the "City" ) , created under Ordinance No . 887-82 , as amended, was $385, 240 . 65 . The 30-day period for making cash payments of assessments without interest in the District expired on February 27, 1986 , and the total amount of assessments paid in cash was $500 . 00 , leaving a balance of assessments unpaid on the assessment roll in the sum of $384 , 740 . 65 . Local Improve- ment District No . 711 Bonds (the "Bonds" ) shall , therefore, be issued in the total principal sum of $384 , 740 . 65 . The Bonds shall be dated April 1 , 1986, shall mature on April 1, 2008 , and shall be numbered from 1 to 77, inclusive, in the manner and with any additional designation as the Bond Registrar (collec- tively, the fiscal agencies of the State of Washington located in Seattle, Washington, and New York, New York) deems necessary for the purpose of identification. Bond No . 1 shall be in the denomination of $4 , 740 . 65 and Bonds Nos . 2 to 77, inclusive, shall be in the denomination of $5 , 000 . 00 each. Interest shall be computed on the basis of a 360-day year of twelve 30-day months . The bonds shall bear interest , payable annually begin- ning April 1, 1987, and shall mature on April 1, 2008 , of each year in accordance with the following schedule: