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ORDINANCE NO. 7),/,;-- <br /> An <br /> ). -An Ordinance of the City of Everett, Wash- <br /> ington, providing for the issuance of <br /> bonds of Local Improvement District No. <br /> 691 in the total principal sum of <br /> $93, 350. 00 . <br /> WHEREAS, the improvements provided for in Ordinance <br /> No. 98-70 of the City and Local Improvement District No. 691 <br /> have 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, construct- <br /> ing and installing said improvements, plus all costs incidental <br /> thereto in said local improvement district was $197 , 339. 89, and <br /> the assessment roll in said district in such total principal sum <br /> of $197 , 339. 89 has been confirmed by Ordinance No. 169-71 in the <br /> manner required by law; and <br /> WHEREAS, $46 , 537 . 31 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, the City <br /> sold its installment note of said local improvment district in the <br /> total principal sum of $150 , 802 . 58 to pay the balance of the costs <br /> of said local improvement district; and <br /> WHEREAS, it is now economically feasible to refund the <br /> existing balance presently due on the note of $93, 350 . 00 by the <br /> issuance of bonds pursuant to RCW 35. 45. 155, and it is necessary <br /> that the date, form, terms and maturities of said bonds now be <br /> fixed; <br /> NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF <br />