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ORDINANCE NO. l._ /L <br /> AN ORDINANCE of the City of Everett, Wash- <br /> ington, providing for the issuance of <br /> bonds of Local Improvement District No. <br /> 694 in the total principal sum of <br /> $86, 713 . 77 and declaring an emergency to exist. <br /> WHEREAS, the improvements provided for in Ordinance No. <br /> 201-72 of the City and Local Improvement District No. 694 have <br /> been completed and accepted by the City; and <br /> WHEREAS, the total cost attributable to the property <br /> owners in the local improvement district of acquiring, construc- <br /> ting and installing said improvements, plus all costs incidental <br /> thereto in said local improvement district was $102 , 033. 90, and <br /> the assessment roll in said district in such total principal sum <br /> of $102 , 033 . 90 has been confirmed by Ordinance No. 273-73 in the <br /> manner required by law; and <br /> WHEREAS, $15, 320. 13 of the assessments on said assess- <br /> ment roll was paid during the 30 day period permitted by law for <br /> the payment of assessments without penalty, interest or costs; <br /> and <br /> WHEREAS, after applying said amount of prepaid assess- <br /> ments to the payment of the cost and expense of said improvements <br /> and to the payment of all expenses incidental thereto, it will be <br /> necessary that the City issue bonds of said local improvement <br /> district in the total principal sum of $86 , 713. 77 to pay the <br /> balance of the costs of said local improvement district; and <br /> WHEREAS, it is necessary that the date, form, terms and <br /> maturities of said bonds now be fixed; <br /> NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF <br /> THE CITY OF EVERETT, WASHINGTON as follows : <br /> Section 1. That for the purpose of paying the costs <br /> attributable to the property owners in Local Improvement District <br />