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ORDINANCE NO. /176 —A — <br /> AN ORDINANCE of the City of Everett, Washington, <br /> relating to Local Improvement District No . 717; <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 . 1118-85; and providing for the sale of such bond <br /> anticipation notes to Harper , McLean & Company, <br /> Seattle, Washington. <br /> WHEREAS, by Ordinance No . 1118-85 passed by the City <br /> Council on March 20, 1985 , and approved by the Mayor on <br /> March 21, 1985 , the City ordered the improvement in the area of <br /> 4th Avenue W. in the City by the acquisition, construction and <br /> installation of standard street system and sanitary sewer system <br /> improvements all in accordance with Resolution No . 2530 of the <br /> City Council , established Local Improvement District No . 717, <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, the City Council deems it to be in the best inter- <br /> est of the City that the City borrow money and issue short-term <br /> obligations in accordance with the provisions of Chapter 39 . 50 <br /> RCW in anticipation of the sale of local improvement district <br /> bonds authorized by Ordinance No . 1118-85 for the purpose of <br /> providing the funds with which to pay part of the costs of <br /> carrying out the improvements ordered in Local Improvement <br /> District No . 717; and <br /> WHEREAS, Harper , McLean & Company, Seattle, Washington, <br /> Washington, has submitted an offer to purchase such short-term <br />