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HomeMy WebLinkAbout1177 OrdinanceCITY OF PASCO, WASHINGTON :ORDINAiJCE. y., NO. 1177 V AN gRDIA1ANCE.;:- of the City Council of the City of Pasco, Washington, ordering the improvement of South Elm Street from Alton Street to "A" Street by the construction and installation of curbs and sidewalks, all in accordance with Resolution No. 623 of the City Council of the City of Pasco, Washington; establishing Local Improvement District No. 69; providing the method of assess- ment in said District; providing that payment for said improvement be made by special assessments upon properties in the District, payable by the mode of "payment by bonds"; and providing for the issuance and sale of local improvement district warrants redeemable in cash and local improvement district bonds, or as an alternative thereto an installment note. WHEREAS, by Resolution No. 623, adopted December 15, 1964, the City Council of the City of Pasco declared its intention to order the improve- ment of South Elm Street from Alton Street to "A" Street by the construction and installation of curbs and sidewalks and fixed the 19th day of January, 1965, at 8:00 o'clock p.m. (PST) in the Council Chambers in the City Hall, Pasco Washington, as the time and place for hearing all matters relating to said pro- posed improvement and all objections thereto and for determining the method of payment for said improvement; and WHEREAS, George Fisher, the City Engineer, has caused an estimate to be made of the cost and expense of the proposed improvement and has certified said estimate to the City Council, together with all papers and information in his possession touching the proposed improvement, a description of the boundaries of the District, a statement of what portion of the cost and expense of the improvement should be borne by the property within the proposed district, a statement in detail of the local improvement assessments outstanding or unpaid against the property in the proposed district and a statement of the aggregate actual valuation of the real estate, including 25% of the actual valuation of the improvements in the proposed district, according to the valuation last placed upon it for the purpose of general taxation; and WHEREAS, said estimate is accompanied by a diagram of the proposed improvement showing thereon the lots, tracts, parcels of land, and other property which will be specially benefited by the proposed improvement, and the estimated amount of the cost and expense thereof to be borne by each lot, tract, and parcel of land or other property; and WHEREAS, due notice of the hearing upon said Resolution No. 623 was given in the manner provided by law and said hearing was held by the City Coundl on January 19, 1965, and all written protests filed with the City Council on or before said date were duly considered and by it overruled and all persons appearing at said hearing were heard; and WHEREAS, the City Council, after giving due consideration to the method of payment for said improvement, determined it to be in the best interest of the City and of the owners of property within the local improvement district that the entire cost and expense of the improvement be specially assessed and that said improvement as hereinafter described be carried out and that a local improvement district be created in connection therewith, NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO.ORDAIN, as follows: Section 1. It is hereby ordered that Elm Street from Alton Street to "A" Street be improved by the construction and installation of curbs and side- walks. The foregoing shall be carried out in accordance with the plans and specifications therefor prepared by George R. Fisher, City Engineer. Section 2. There is hereby created and established a local improvement district to be called "Local Improvement District No. 69, " which District is described as follows and contains the following area: -2- Terrace Heights Addition Block I, Lots 1-17 inclusive Block 2, Lots 18-34 inclusive Block 3, Lots 35-51 inclusive Kurtzman's First Addition Block 1, Lots 1-11 inclusive Block 8, Lots 1-4 inclusive Block 9, Lots 1-16 inclusive Section 3. The estimated cost and expense of said improvement is hereby declared to be $6,348.00. The entire cost and expense of said improvement, including the cost and expense of all engineering, legal, inspection, advertising, publication of notices, and other expenses incidental thereto, shall be borne by and assessed against the property specially benefited by such improvement included in the local improvement district established, embracing, as near as may be, all property specially benefited by such improvement; PROVIDED, HOWEVER, that in the event the actual cost and expense of said improvement shall exceed the preliminary cost estimate of the City Engineer by more than ten percent (10%) , the City shall pay that portion of said cost and expense which exceeds said ten percent (10%) . Section 4. The nature of the improvement provided for herein is such that the special benefits conferred upon the property in the local improvement district herein created are not fairly reflected by the use of the zone -and -termini method of assessment therefor, and it is hereby provided and ordered that the assessments shall be made against the property of the District in accordance with the special benefits it will derive from the improvement without regard to the zone -and -termini method provided by statute. Section 5. Local improvement district warrants shall be issued in payment of the cost and expense of the improvement herein ordered, such warrants to be payable out of the "Local Improvement Fund, District No. 69," hereinafter created, to bear interest from the date thereof at a rate to be hereafter fixed by ordinance not to exceed 6% per annum and to be redeemed in cash, and/or by local improvement district bonds herein authorized to be issued, said interest-bearing warrants to be hereafter referred to as "revenue warrants. " Such bonds shall bear interest at a rate to be hereafter fixed by ordinance not to exceed 6% per annum, shall be payable on or before twelve (12) years from the Icla date of issuance , the life of the improvement ordered being not less than twelve (12) years, and shall be issued in exchange for and in redemption of any and all revenue warrants issued hereunder and not redeemed in cash within a period not to exceed 60 days after the first publication by the City Treasurer of notice that the assessment roll for "Local Improvement District No. 69" is in her hands for collection. The bonds shall be redeemed by the collection of special assessments to be levied and assessed upon the property within said District, payable in ten (10) equal annual installments, with interest at a rate to be hereafter fixed by ordinance not exceeding 6% per annum, under the mode of "payment by bonds," an defined by law and the ordinances of the City of Pasco. In the case of . default in the payment of any assessment when the same shall become due, there shall be added interest at a rate to be hereafter fixed by ordinance not to exceed 6% per annum and a penalty of 6% which shall also be collected. The exact form, amount, date, interest rate, and denominations of said warrants and bonds shall be hereafter fixed by ordinance of the City Council. Said warrants and bonds shall be sold in such manner as the City Council shall hereafter determine. As an alternative to the issuance of such bonds the City may, pursuant to Chapter 165 of the Laws of 1961 of the State of Washington, issue an installment note and sell the same to such City fund as an investment for such fund as the City Council shall hereafter determine. Section 6. All the work necessary to be done in connection with the making of said improvement shall be done by and made by contract upon competitive bids and the City shall have and reserves the right to reject any and all bids. The call for bids for work authorized pursuant to this Ordinance shall include a statement that payment for said work will be made in cash warrants drawn upon the "Local Improvement Fund, District No. 69. " Section 7. There is hereby created and established in the office of the City Treasurer of the City of Pasco, for Local Improvement District No. 69, a special fund to be known and designated as "Local Improvement Fund, District No. 69t" into which fund shall be deposited (a) the proceeds from the sale of revenue warrants drawn against said fund which may be issued and sold by the City, (b) collections pertaining to assessments, and (c) any funds contributed by City participation, and against which fund shall be issued cash warrants to the contractor or contractors in payment for the work to be done by them in connection with said improvement, and against which fund cash warrants shall be issued in payment of all other items of expense in connection with said improvement. PASSED by the City Council and APPROVED by the Mayor of the City of Pasco, Washington, at a regular meeting thereof, this 2nd day of February, 1965. Mayor ATTEST: City Clerk FORM APPROVED: it ttorney -5- I, ESTHER SCHLAGEL, Clerk of the City of Pasco, Washington, do hereby certify that the attached Ordinance -i No. 1177 is a true and correct copy of the original resolution adopted on the 2nd day of February, 1965, as said ordinance appears on the Minute Book of the City. DATED this '3' day of February, 1965. ESTHER SCHLAGEL, Clerk I, ESTHER SCHLAGEL, Clerk of the City of Pasco, Washington, do hereby :certify that the attached is a true and correct copy df Ordinance No. 1177 , passed February 2, 1965, as said Ordinance appears on the Minute Book of the City. ti DATED this 15th day of February, 1965. ESTHER SCHLAGEL., CITY CLERK