HomeMy WebLinkAboutO-0551 - Amends Ord. 540, LID No. 50 (Special)()lWTNANCE:HQ..ill
An ordinancr supplementing the provi,sionfl of Ordinance No.540
relating to L.I.D.Number 50.
t~~HEAS,the City by Resolution Number 710 created Local
Improvrn~Bnt District Number SO for the improvement of a portion ot
67th Street N.E;.f'rom Liberty Avenue to Al"mB.r Road by the :lnatalla-
tion or a six-inch water main and appurtenances,and
\~~ijEAS,the assessment roll for L.I.D.Number 50 was confirmed
on April 26,1965 by Ordinance No.54.0 and has been placed in the
hands of the City Treasurer for collection,and
\,{Hmll<~AS s the cost of construction of uai.d improvement has been
paid from monies of the Water and Sewer Revenue Fund of the City of
Il'iaryDville,anel
~\,m:;lTh;AS J the amount collected by the City Treasurer prior to
tne thirty-day period allowed by law for payment of assessments
without penalty or interest is $2,~69.97,leaving a balance due or
$2,236.67,and
WrlEREAS,by the provisions or R.G.W.35.45.150 the City ~ay
issue inotallment notes payable out of the L.:r.D.f'umi where all
nuch notes are to be sold exclusively to another fund of the same
municipality as an investment thereof,and
Wr~~~ASJ it is doomed advisable by the City Council that an
installment note in an amount equal to the balance due of ~2236.67
be purchased by the \'Vater and Sewer Hevenue Fund of'the City,
110W therof"ore,
_.r~l""~
THE CITY COUNCIL OF THE CITY OF MARYSVILLE DO ORDAIN AS FOLLOWS:
SECTION 1.That an installment note having the following face
value shall be issued;bearing interest at 6%per annum:
a)One note having a face value of $2236.67.
Said note shall be issued in conformity with the
requirements of 35.45.150 R.C.W.
SECTION 2.This ordinance shall be in torce from and after
its passage and five days following its publication as required
by law.
Passed by the COUNCIL OF THE CITY OF MARYSVILLE,this 1(/TH day
of March,1966.
CITY OF MARYSVILLE
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