Ordinance 733-80 - Laserfiche WebLink

a • t • 1ORDINANCE NO. 7 3- 2 AN ORDINANCE providing a penalty provision for all Local Improvement 3 District accounts which are delinquent. 4 5 WHEREAS, it is necessary to assure timely payment of L.I.D. assessments in 6 order that the City Treasurer can determine the maximum number of bonds or coupons 7 to be called through legal publication and notice to brokers which number is based on 8 current L.I.D. collections; and 9 WHEREAS, the City has set forth in each L.I.D. ordinance the due date for the 10 assessments; and 11 WHEREAS, RCW 35.49.030 requires that the City prescribe by general ordinance 12 penalty provisions for delinquent Local Improvement District assessment payments 13 which penalty shall not be less than five percent; and 14 WHEREAS, certain L.I.D. ordinances which have been adopted by the City have 15 omitted penalty provisions for delinquent assessments while others have set forth 16 penalty provisions amounting to five percent; and 17 WHEREAS, the City Council finds that a five percent penalty assessment is 18 insufficient; and 19 WHEREAS, the City Council finds that it is necessary to increase all existing 20 penalty provisions and to provide penalty provisions for all existing and future L.I.D.'s; 21 NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: 22 Section 1: The purpose of this ordinance is to clarify delinquent account 23 penalty provisions for all existing and future L.I.D.'s. 24 Section 2: An L.I.D. assessment shall be considered as delinquent when an 25 annual installment has not been received by the office of the City Treasurer on or 26 before the thirtieth (30th) calendar day from the annual installment due date. 27 Section 3: The only exception (without penalty) from Section 2 shall be as 28 follows: 29 1. In the event the thirtieth calendar day from the annual 30 installment due date falls on a weekend, a holiday or any other non-work 31 day scheduled for City of Everett employees, then the payment must 32