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Home My WebLink AboutO-1308 - Adds Sec. 3.60.115 and amends Sec. 3.60.110, local improvements, special assessments and bonds (3.60):~:.:2 -9tJC1k Pu.b, s-A we..~d Lo\VY1sel CIT Y 0 F MAR Y S V ILL E Marysville,Washington ORDINANCE NO.1..108 AN ORDINANCE OF THE CITY OF MARYSVILLE AMENDING SECTION 3 ..60.110 OF THE MARYSVILLE MUNICIPAL CODE RELATING TO ASSESSMENT PAYMENTS ON L.I.D.S AND ENACTING SECTION 3.60.115 RELATING TO INTEREST AND PENALTIES ON DELINQUENT PAYMENTS THE CITY COUNCIL OF THE CITY OF MARYSVILLE,WASHINGTON, DO ORDAIN AS FOLLOWS: Section 1.Section 3.60.110 of the Marysville Municipal Code is hereby amended to provide as follows: 3.60.110 Installment Payments.In all cases where bonds are issued to pay the cost and expense of a local improvement,the ordinance levying the assessments shall provide that the sum charged against any lot,tract and parcel of land or other property,or any portion thereof,may be paid during the thirty (30)day period allowed for the assessments without penalty or interest and that thereafter the sum remaining unpaid may be paid in equal annual principal installments or in equal annual installments of princi- pal and interest.The number of installments shall be less by two (2)than the number of years which the bonds issued to pay for the improvement are to run.The estimated interest rate may be stated in the ordinance confirming the assessment roll.Where payment is required in equal annual principal installments,interest on the whole amount unpaid at the rate fixed by the ordinance authorizing the issuance and sale of the bonds shall be due on the due date of the first installment of principal and each year thereafter on the due date of each installment of principal;provided,that if a bond issue is payable on or before twenty-two (22)years after the date of issue,the City Council may provide by ordinance that all assess- ments and portions of assessments unpaid after the thirty (30)day period allowed for payment of assessments without penalty or inter- est may be paid in ten·(10)equal installments beginning with the eleventh (11th)year and ending with the twentieth (20th)year from the expiration of said thirty (30)day period,together with inter- est on the unpaid installments at the rate fixed by such ordinance, and that in each year after the said thirty (30)day period,to and including the tenth (10th)year thereafter,one installment of inter- est on the principal sum of the assessment at the rate so fixed shall Ordinance - 1 be paid and collected,and that beginning with the eleventh (11th) year after the thirty (30)day period,one installment of the prin- cipal,together with the interest due thereon,and on all install- ments thereafter to become due,shall be paid and collected. Section 2.A new Section 3.60.115 of the Marysville Muni- cipal Code is hereby enacted to provide as follows: 3.60.115 Time of Payment;Interest;Penalties.The City Council,by ordinance,shall prescribe the period of time over which local improvement assessments,or installments thereof,shall be paid.That ordinance shall also provide for the payment and collection of interest on the unpaid balance of the assessments at a rate to be fixed by the City Council.Any installment,or inter- est,not paid on or before the due date for the same shall be con- sidered delinquent,and shall be increased by a penalty charge of X-%. PASSED by the City Council and APPROVED by the Mayor this2f.p~day of seprC M8£ /i,,1983. MAYOR ATTEST: APPROVED AS TO FORM: BY'~--.'9t/;.OJ'p,.-p r/~'CITy75!r'6tf{ff./ Ordinance - 2 AFFIDAVIT OF PUBLICATION No._ STATE OF WASHINGTON, County of Snohomish, ss.-h_~i1LJ::._,-_WmrlJ.QoXJ.~ngfirst duly sworn on oath deposes and says that he is the,..~d?!!.J J of THE MARYSVILLE GLOBE, a weekly ~~~~erJ That said newspaper is a legal newspaper which has been ap- proved by order of the Superior Court in Snohomish County June 18, 1962 in compliance with Chapter 213 of Washington Laws of 1941, and it is now and has been for more than six months prior to the date of the publication hereinafter re- ferred to,published in the English language continually as a weekly newspaper in Marysville,Snohomish County,Wash- ington,and it is now and during all of said time was printed in an office maintained at the aforesaid place of publication of said newspaper.That the annexed is a true copy of a ____O~J_\.n%~_l~e>..~--as it was published in regular issues (and not in supplement form)of said newspaper once each week for a period of _~n....~_con- secutive weeks,commencing on the ~_day of ~t, 19~and ending on the _~day Of~_,19:(';> both dates inclusive,and that such newspaper was regularly distributed to its subscribers during all of said period.That the full amount of the fee charged for the foregoing publi- cation is the sum of $_~t~__,which amount has been paid in full a '0 (j~ SUb.Crib8l;~~efO~e :~-:~i~-.s:r: day of ---f.V.-~--_.19~L ........~.~r..~~. Notary PUblic In and tor the State of Washington, Residing at MarYSville, CITY OF MARYSVILLE· Marysville,Washington ,..ORDINANCE NO.1308 AN -ORDINANCE OF THE CITY OF MARYSVILLE AMENDING SECTIONS 3.60.110 OF THE MARYSVILLE MUNICIPAL CODE RELATING TO ASSESSMENT PAYMENTS'ON L.I.D.S ..AND ENACTING SECTION 3.60.115 RELATING TO IN- TEREST AND PENAL..TIES ON DELINQUENT PAYMENTS THE CITY COUNCIL OF tHE CITY OF MARYSVILLE,WASHINGTON,DO OR· DAIN AS FOLLOW~: Section 1.Section 3.60.110 of the Marysville Municipal Code'J~hereby amended to pro- vide as follows:, 3.60.110 Installment Payments.In all cases where bonds are Issued to pay the cost and expense of a local Improvement,the ordinance levying the assessments shall pro- vide that the sum charged against any lot,tract and parcel of land or other property,or any portion thereof,may be paid during the thirty (30)day period allowed for the assessments without penalty or Interest and that thereafter the sum remaining unpaid may be paid In equal annual principal Installments or in equal annual Installments of principal and Interest.The number of Installments shall be less by two (2)than the number of .years which the bonds Issued to pay for the Improvement are to run.The estimated Interest rate may be stated In the ordinance confirming the assessment roll. Where payment Is required In equal annual principal Installments,Interest on the whole amount unpaid at the rate fixed by the ordinance authorizing the Issuance and sale ot the bonds shall be due on the due date Of the first Installment Of principal and each year thereafter on the due date of each Installment of prlnclpali provided,that If a bond Issue IS payable 0"or before twenty·two (22)years after the date of Issue,the City Council may provide by ordinance that all assessment and portions of assessments un· paid after the thirty (30)day period allowed for payment of assessments without penel- ty or Interest may be paid In ten (10) equal Installments beginning with the eleventh ('llth)year and ending with the twentieth (20th)year from the expiration of said thirty (30)day period,together with Interest on the unpaid Installments at the rate fixed by such ordinance,and that in each year after the sal~thirty (30)day period,to and In- cluding the tenth (lOth)year thereafter,one installment of Interest on the principal sum of the assessment at the rate sofiXed shall be paid and COllected,and that beglnlng With the eleventh (11th)year after the thirty (30)day period,one Installment of the principal,together witn the Interest due thereon,and on all installments thereafter to become due,shall be paid and collected. Section 2. A new Section 3.60.115 of the Marvsville Municipal Code Is hereby enacted to provide as follows:' 3.60.115 Time of Payment;Interest;Penalties.The City Council,bV ordinance,shall prescribe the period of time over which local improvement assessments,or In- stallments thereof, shall be paid.That ordinance shall also provide for the payment and collection of interest on the unpaid balance of the assessments at a rate to be fixed by the City Council.Any Installment,or interest,not paid on or before the due date for the same shall be considered delinquent,and shall be Increased by 8 penalty charge of 896. PASSED by the Citv Council and APPROVED by the Mayor this 26th day of September,1983.\ THE CITV OF MARYSVILLE By Daryl D.Brennlck,Mayor Attest:By Phillip E.Dexter,City Clerk Approved as to Form:By James H.Allendoerfer,City A'tty. Puhlf~hArt·~nt ?A_lOR]