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ti <br /> ORDINANCE C `171- 0 <br /> v.zi.lAihi:� a .._ , <br /> AN ORDIN;,_NCE of the City of Everett , Washington, <br /> amending Section 7 of Ordinance No . L!322 of ti-e <br /> City ; adding a new section creating a Construction <br /> Fund to said ordinance ; and declaring an emergency . <br /> WHEREAS , after a hearing aaa proceedings C'.:_y and regularly <br /> taken , Local improvement District No . 683 of the City of Everett <br /> (hereinafter called the • City" ) was created. by Ordinance No . 14 222 <br /> passed October 8 , 1968 ; and <br /> WHEREAS, the City is contemplating the issuance of warrants <br /> drawn upon Local Improvement District Fund No . 683 created by Section <br /> ofsaid > temporary financing Ordinance No . Lt32 for the �'li"1rt:iC:l2�._� Oi the <br /> CC <br /> : ST . C - <br /> tion of the improvements authorized to be constructed in said local <br /> improvement district ; and <br /> WHEREAS, it is deemed necessary and advisable :fiat a Local. <br /> lmp7 " iP,.,a - District , � enstil ^tX07 Fund be createdin order to <br /> pay the costs and expenses of such local improvement district for which <br /> such Local Improvement District Fund warrants will be is i d ; <br /> NOW, _HtREOR ;, THE CITv OF EVERETT DOES ORDAIN : <br /> : <br /> Section 1 . ThatSection 7 of Ordinance No. �i32� of `r City <br /> Section � the vii. <br /> passed October 8 , 19e8 , be and the same is hereby .monk ':i to read as <br /> follows : <br /> "Section 7 . A special <br /> uL c. a� fw 3 of the City :is h Y. chiyo . i1 <br /> 6 :r3 <br /> t ._ J <br /> to be known as the ' Local Improvement District Fun, <br /> into which there shall be paid as collected all of the assess- <br /> ments <br /> `' _, .ss- <br /> m '.nts levied in sold. district as and whci: directed by ordinance <br /> orordinances of t ?e Council of tl1e City . Said fund shall he <br /> the <br /> used solely for the :: ii:.c, of_ rajicit of warrants and/or bonds <br /> to be issued in payment of the cost and e cense of the I .crove- <br /> menus .o be ec`1.> .r isc .. 1.:;. . . _, i ' i, _ '. .. C ._ <br /> 683 and all. ea'ncnses incidental thereto as hereinafL= T" ;r.viSea , <br /> tt .Lnte. 1 .r. warrants ten-in interest at the rate of <br /> per. annum: r _ ci: date date of redemption may c,e •raa;;n <br /> on said fund, based aaon,. e' imes of the City ' s enitiePrs , <br /> and sold by the City to provide funds for the payment cf the <br /> cost of construction and instaiiation of said 1ruprove:i`. nts and <br />