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HomeMy WebLinkAbout2135 OrdinanceAT APPROVED AS TO FO ORDINANCE NO. 2135 AN ORDINANCE amending Ordinance No. 2130 relating to Local Improvement District No. 103 and the interest rate on the unpaid portion of any assessment. WHEREAS, the interest rate on the unpaid portions of any assessment was set at eight and three quarters percent (8 3/4%) per annum in Ordinance No. 2130; WHEREAS, this interest rate was based on the best available information at that time as to what the interest rate would be for the bonds needed to finance the unpaid assessments at the time they would be sold; WHEREAS, due to unforeseen changes in the economic situation of the nation, particularly as it applies to interest rates, it now appears that the interest rate on the bonds needed to finance the unpaid portion of the assessments will be nine and one-half percent (9 1/2%); and WHEREAS, the bonds have not been sold to finance the unpaid portion of the assessments; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO DOES ORDAIN AS FOLLOWS: Section 1. That Ordinance No. 2130 be amended so that wherever the figure eight and three quarters percent (8 3/4%) per annum appears that it be changed to nine and one-half percent (9 1/2%) per annum. Section 2. The city treasurer is hereby directed to again publicize notice as required in Ordinance No. 2130 and to begin again a thirty (30) day period for payment of any assessment or any portion thereof without penalty, interest, or cost. Notice shall be sent to all property owners accept those that have paid the entire amount of the assessment. Section 3. The city treasurer is also hereby directed to refund any penalty that was assessed for late payment of the assessment provided such payment has been made prior to the conclusion of the new thirty (30) day period created by this ordinance. Section 4. This ordinance shall be in full force and effect after its passage and publication as required by law. PASSED by the City Council of the City of Pasco this 3 rd day of March , 1980. \ ./n A/1 e yn Wells, City Clerk Chet Bailie, Mayor Dennis De e ice, City A orney dllianct No 2135 I An' Ordinance amending Ordinance No 2130 relating , to Load Improvement Dis trict No 103 and the Inter I es; rate on the unpaid , portion of any assessment I Whereas the interest rate on the unpaid portions of any assessment was set at eight and three Quarters Percent (83/4%) per annum In Ordinance No 2130, Whereas this interest rate was based on the best available information at that time as to what the interest rate would be for the pcods needed to finance the —'un paid assessments at the time they would be sold, Whereas due to unfore seen changes In the eco- nomic situation of the nation, particularly as it aP plies to Interest rates It now appears that the inter est rate on the bonds needed to finance the un paid portion of the assess ments will be nine and one half percent (91/2%), and Whereas, the bonds have not been sold to finance the unpaid portion of the as Sessments, now, therefore The City Council of the Clyt of Pasco does ordain as follows Section 1 That Ordinance Na 2130 be amended so that wherever the figure eight and three quarters Percent (8 3/4%) per annum appears that it be changed to nine and one-half percent (91/2%) per annum Section 2 The city treas urer Is hereby directed to again publicize notice as re clulred in Ordinance No 2130 and to begin again a thirty (30) day period for Payment of any assessment or any portion thereof with out penalty, interest or cost Notice shall be sent to all property owners accept those that have paid the entire amount of the assessment Section 3 The city treas urer is also hereby directed to refund any penalty that was assessed for late pay ment of the assessment pro vided such payment has been made prior to the conclusion of the new thirty (30) day period created by this ordinance Section 4 This ordinance shall be in full force and effect after its passage and publication as required by i law Passed by the City Coun cil of the City of Pasco this 3rd day of March, 1980 s Chet Bailie Mayor Attest s Evelyn Wells City Clerk Approved as to form s Dennis J De Felice, City Attorney 4 Legal No '7404 Mar 1980 AFFIDAVIT OF PUBLICATION COUNTY OF ,Frankl )ss STATE OF WASHINGTON Phyllis Graves , being first duly sworn on oath deposes she Principal Clk and says is the ea of the Tri-City Herald, a daily newspaper That said newspaper is a legal newspaper and has been approved as a legal newspaper by order of the superior court in the county in which it is published and it is now and has been for more than six months prior to the date of the publication hereinafter referred to, published in the English language continually as a daily news- paper in Franklin County, Washington, and 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 legal ,dveement Ordinance # 2135 as it was printed in the regular and entire issue of the Tr-City Herald itself and not in a supplement thereof, for a period of one time cjEingg.tycarimyy commencing on the 7th day of Iv-Larch , 19 80 , and ending on the day of , 19 , and that said newspaper was regularly distributed to its subscribers during all of this period That the full amount of $ 43 • 60 has been paid in full, also at the rate of 8 in.@ 5.45 = 43.60 March 80 day of , 19 j//,)9(t,c6.4:¢ Notary Public in and for the State of Washington, residing at-liennewiekl.:31,<-e-.0 Subscribed and sworn to before me this 7th March 4, 1980 Tri City Herald P.O. Box 2608 Pasco, Pashington 99302 Gentlemen: Please publish the attached Ordinances On the following date: March 7, 1980 Please send two (2) Affidavits of Publication for each. Sincerely yours, Evelyn Wells City Clerk •On ew