Ordinance 1087-84 - Laserfiche WebLink

against the property specially benefited by such improvement included in the District embracing as nearly as practicable all property specially benefited by such improvement . Section 4 . In accordance with the provisions of RCW 35 .44 .047 , the City may use any method or combination of methods to compute assessments which may be deemed to fairly reflect the special benefits to the properties being assessed . Section 5 . Local improvement district warrants may be issued in payment of the cost and expense of the improvement herein ordered to be assessed, such warrants to be paid out of the "Local Improvement Fund, District No. 712, " hereinafter created and referred to as the "Local Improvement Fund, " and, until the bonds referred to in this section are issued and delivered to the purchaser thereof, to bear interest from the date thereof at a rate to be established hereafter by the City Treasurer, as issuing officer , and to be redeemed in cash and/or by local improvement district bonds herein authorized to be issued, such interest-bearing warrants to be hereafter referred to as "revenue warrants . " In the alternative, the City here- after may provide by ordinance for the issuance of other short- term obligations pursuant to Chapter 216, Laws of 1982 . The City is authorized to issue local improvement district bonds for the District which shall bear interest at a rate and to be payable on or before a date to be hereafter fixed by ordinance . The bonds shall be issued in exchange for and/or in redemption of any and all revenue warrants issued hereunder or other short-term obligations hereafter authorized and not redeemed in cash within twenty days after the expiration of the thirty-day period for the cash payment of assessments without interest on the assessment roll for the District . The bonds shall be redeemed by the collection of special assessments to be levied and assessed against the property within the District, - 3 -