Ordinance 90-70 - Laserfiche WebLink

CITY OF EVERETT, WASHINGTON ORDINANCE NO. AN ORDINANCE fixing the amount, form, date, interest rate, maturity and denominations of Local Improvement District No. 690 Bonds and directing the issuance and sale thereof to Wm. P . Harper & Son & Company of Seattle, Washington. THE CITY COUNCIL OF THE CITY OF EVERETT, WASHINGTON, DOES ORDAIN: Section 1. The total amount of the assessment roll in Local Improvement District No. 690 in the City of Everett, Washington, created under Ordinance No. 62-69 , was $1, 000 , 000 . 00 . By judgment of the Snohomish County Superior Court of the State of Washington such roll was reduced $27 , 338 .22 to a total of $972 ,661. 78 . The thirty-day period for making cash payments of assessments without interest in the District expired on April 13, 1970 , and the total amount of assessments paid in cash not under protest was $91,919 . 55 , leaving a balance of assessments unpaid on the assessment roll in the sum of $880 ,742 .23 of which $17 ,235 . 27 have been contested and undecided and $863,506 .96 of which are uncontested. Local improvement district bonds of Local Improvement District No. 690 shall, therefore, be issued in the total principal sum of $863 ,506 .96 . Bond No. 1 shall be in the denomination of $3 ,506 . 96 , and the remaining bonds numbered 2 to 173 , inclusive, shall be in the denomination of $5 ,000 .00 each. The bonds shall all be dated September 1 , 1970 , and shall be payable on September 1 , 1992 , with the right reserved to the City to redeem the bonds prior to maturity on any interest payment date , in numerical order, lowest numbers first, whenever there shall be sufficient money in the "Local Improvement Fund, District No. 690, " created by Ordinance No. 62-69 , passed December 24, 1969 , to pay the bonds so called and all earlier numbered bonds over and above the amount required for the payment of the interest on all unpaid bonds, by publishing notice of