Ordinance 329-74 - Laserfiche WebLink

• • • • • t, . L . 1 said thirty-day period during which such installment is due and payable shall 2 thereupon become delinquent. All delinquent installments shall be subject to a 3 penalty charge of 5% per annum on the delinquent principal. The collection of such 4 delinquent installments will be enforced in the manner provided by law. 5 Section 4: 6 This ordinance shall become effective upon becoming valid. 7 Section 5: 8 9 The City may issue a note or sell bonds on the account of this 10 Local Improvement District, the interest rate (not to exceed 8 percent per annum) 11 to be determined on market conditions at the time of sale. 12 Section 6: 13 Ordinance No. 241-73, Section 4, is hereby amended to read as 14 follows: 15 "That the City Council of the City of Everett finds and declares 16 that it is in the best interest of the sewer maintenance fund of the City of Everett to connect the herein-created improvements 17 to existing City trunk lines in 74th Street Southwest by a gravity 18 lateral line in lieu of the construction of a sewer lift station and pressure line connection, thereby saving the sewer maintenance 19 fund of the City of Everett certain undetermined costs. Accordingly, the City of Everett shall pay out of the sewer maintenance fund 20 the sum of $12,000.01, which is the excess cost of the lateral gravity line from Lot 28, Plat of Evergreen Glen to the existing sewer in 21 74th Street Southwest over the cost of a lift station and pressure line." 22 Section 7: 23 Ordinance No. 241-73, Section 5, is hereby amended to read as 24 follows: 25 "An amount of $12,000.01 is hereby appropriated from 26 unanticipated revenues from the sewer revenue funds of the City for the purpose of contributing said amount for the 27 28 29 30 31 32