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
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