Ordinance 973-83 - Laserfiche WebLink

• a/g fjg _ gC CITY OF EVERETT, WASHINGTON ORDINANCE NO. 97.3-47,; AN ORDINANCE of the City of Everett, Washington, relating to Local Improvement District No. 705; amending Section 7 of Ordinance No . 756-81; authoriz- ing the issuance and sale of local improvement dis- trict bond anticipation notes pending the receipt of the proceeds of the local improvement district bonds authorized to be issued by Ordinance No . 756-81; and providing for the sale of such bond anticipation notes to Harper , McLean & Company of Seattle, Washington. WHEREAS, by Ordinance No . 756-81 passed by the City Council and approved by the Mayor on January 28, 1981, the City ordered the improvement of a portions of Everett Mall Way (formerly South Broadway) all in accordance with Resolution No . 1886 of the City Council , established Local Improvement District No . 705, provided that payment for the improvement be made by special assessments upon the property in the district payable by the mode of "payment by bonds or installment notes" and provided for the issuance and sale of local improvement district warrants redeemable by cash and/or by local improvement district bonds; WHEREAS, Chapter 216 of the Laws of 1982 , Regular Session of the State Legislature, authorized any municipal corporation to borrow money and issue short-term obligations as provided in such chapter , the proceeds of which may be used for any lawful purpose of the municipal corporation, and which short-term obligations may be issued in anticipation of the sale of local improvement district bonds if the bonds have been authorized by ordinance; and WHEREAS, the City Council deems it to be in the best inter- est of the City that the City borrow money and issue short-term obligations in anticipation of the sale of local improvement district bonds authorized by Ordinance No . 756-81 for the pur- pose of providing the funds with which to pay part of the costs