Ordinance 922-83 - Laserfiche WebLink

CITY OF EVERETT, WASHINGTON ORDINANCE NO. AN ORDINANCE of the City of Everett, Washington, authorizing the issuance and sale of local improve- ment district bond anticipation notes in Local Improvement District No. 711 pending the receipt of the proceeds of the local improvement district bonds authorized to be issued by Ordinance No. 887-82, amending Section 5 of Ordinance No. 887-82, and pro- viding for the sale of such bond anticipation notes to Seattle-First National Bank of Seattle, Washington. WHEREAS, oy Ordinance No. 887-82 passed by the City Council and approved by the Mayor on September 22, 1982, the City ordered the construction and installation of certain improve- ments in the area of Campus Parkway, formerly known as 77th Way, between Evergreen Way and Casino Road, all in accordance with Resolution No. 2159 of the City Council, established Local Improvement District No. 711, 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" and pro- vided for the issuance and sale of local improvement district warrants redeemable by cash and/or by local improvement district bonds; and 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 obli- gations 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 its short- term obligation or obligations for the purpose of providing the