Ordinance 256-73 - Laserfiche WebLink

• jr, yin eti ORDINANCE NO. :-.7.3 AN ORDINANCE of the City of Everett, Washington, providing for the issuance and confirming the sale of bonds in Local Improvement District No. 692 of the city in the principal amount of $125 ,880. 28 , and declaring an emergency. WHEREAS, the improvements provided for in Phase I of Sec- tion 2 of Ordinance No. 116-71 of the City of Everett, Washington (hereinafter called the "City" ) , in Local Improvement District No. 692 have been completed, and it is necessary that bonds of such local improvement district be now issued in order to provide the funds necessary to pay all of the costs of said improvements; and WHEREAS, the total, cost attributable to the property owners within the Phase I area of such local improvement district of acquiring, constructing and installing the improvements in said Phase I area, plus all costs incidental thereto, is $131 , 522 . 06 and the assessment roll in said district for such Phase a improvements in the total amount of $131 ,522. 06 has been confirmed by Ordinance No. 228-73; and WHEREAS, $5, 641. 78 of the assessments on said assessment roll were paid during the 30-day period permitted by law for the payment of assessments or any part of the same without penalty, interest or costs; and WHEREAS, it is necessary that the city now issue bonds of. Local Improvement District No. 692 in tho total principal amount of $125 , 880 . 28 to pay tlx:. costs of the improvs uc::nts in the Phase Iarea of said local improvement district; and WHEREAS, the Council of the City on August 1 , 1973, accepted the written offer of Win. P. Harper & Son & Company, an investment banking corporation of Seattle, Washington, to purchase said bonds at the interest rate, the price and the terms and conditions thereof as hereinafter set forth; and WHEREAS, it is necessary that the date, form,terms, amounts, interest rate and Maturity of said bonds now be fixed;