Ordinance 950-83 - Laserfiche WebLink

CITY OF EVERETT, WASHINGTON ORDINANCE NO. * C" '� AN ORDINANCE establishing Consolidated Local Improvement District No . 1 and Consolidated Local Improvement Fund, District No . 1; fixing the amount, form, date, interest rates, maturity and denomina- tions of the Consolidated Local Improvement District No . 1 Bonds ; providing for the sale and delivery thereof to Wm. P . Harper & Son & Company, a Division of Harper, McLean & Company, Seattle, Washington; and fixing the interest rate on local improvement dis- trict assessment installments . WHEREAS, the City Council of the City of Everett, Washington, has heretofore created Local Improvement Districts Nos . 703 , 706, 708 and 710 for various purposes; and WHEREAS, RCW 35 .45 . 160 authorizes the establishment of consolidated local improvement districts for the purpose of issuing bonds only and provides that if the governing body of any municipality orders the creation of such consolidated local improvement district, the money received from the installment payment of the principal of and interest on assessments levied within original local improvement districts shall be deposited in a consolidated local improvement district bond redemption fund to be used to redeem outstanding consolidated local improvement district bonds ; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF EVERETT DOES ORDAIN: Section 1 . For the purpose of issuing bonds only, those local improvement districts of the City of Everett, Washington (the "City" ) , established by the following ordinances, respec- tively, the 30-day period for making cash payment of assessments without interest in each local improvement district having expired in the case of the assessments for each local improve- ment district, are consolidated into a consolidated local improvement district to be known and designated as "Consolidated Local Improvement District No . 1" :