Ordinance 1013-84 - Laserfiche WebLink

CITY OF EVERETT, WASHINGTON ORDINANCE NO. /0/,3-g/ AN ORDINANCE of the City of Everett, Washington, authorizing the issuance of tax anticipation notes for the purpose of paying City expenses pending the receipt of general City taxes; creating a tax antici- pation note fund and an operating cash requirements fund; and providing for the sale of such notes to Harper, McLean & Company. WHEREAS, the City Council finds that periodic collections of general taxes and other revenues in 1984 will not be suffi- cient to meet necessary City expenses as they are incurred and that it is in the best interest of the City to contract short- term debt pursuant to Chapter 216, Laws of 1982 , as amended, to pay those expenses, such debt to be paid from taxes collected by the City prior to February 28, 1985; NOW, THEREFORE , THE CITY COUNCIL OF THE CITY OF EVERETT DOES ORDAIN: Section 1 . The assessed valuation of the taxable property of the City as ascertained by the last preceding assessment for City purposes for the calendar year 1984 is $2 , 609, 818 .272 and the City has outstanding general indebtedness evidenced by limited tax general obligation bonds in the amount of $180, 000, installment contracts in the amount of $161, 981 . 15 and a lease purchase agreement in the amount of $168, 902 . 85 incurred within the limit of up to 3/4 of 1% of the value of the taxable prop- erty within the City permitted for general municipal purposes without a vote of the qualified voters therein and unlimited tax general obligation bonds in the principal amount of $3 ,745, 000 within the limit of up to 2-1/2% of the value of the taxable property within the City for capital purposes issued pursuant to a vote of the qualified voters of the City, and the amount of