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HomeMy WebLinkAbout2136 OrdinanceChet Bailie, Mayor ORDINANCE NO. 2136 AN ORDINANCE amending Ordinance No. 2127 relating to Local Improvement District No. 104 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 one-half percent (8 1/2%) per annum in Ordinance No. 2127; 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 in 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. 2127 be amended so that wherever the figure eight and one-half percent (8 1/2%) 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. 2127 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) days 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 3rd day of March , 1980. Evn Wel s, City Clerk APFROVED AS TO FORM: t44/1,1,143 r iL Dennis J. De ,* 1 ce, City Attorney Ordinance No 2136 An Ordinance amending Oidinai_-4 No 2127 relating to Locor'improvement Dis tact No 104 and the Inter est rate on the unpaid Portion of any assessment Whereas the interest rate on the unpaid portions of any assessment was set at eight and one half percent (81/2%) per annum In Ordi- nance No 2127, 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 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 piles 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 r unpaid portion of the as sessments now therefore, The City Council of the Clyt of Pasco does ordain as follows Section 1 That Ordinance No 2127 be amended so that wherever the figure eight and one half percent (81/2%) 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 quired in Ordinance No 2127 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 mode 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 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 Legal No 7403 Mar 7 1980 AFFIDAVIT OF PUBLICATION COUNTY OF Franklin )ss STATE OF WASHINGTON Phyllis Graves , being first duly sworn on oath deposes and says she is the Priuca pal Clerk of the Tri-City Herald, a daily newspaper That said newspaper is a legal newspaper and has been approved as a legal newspaper by ordei 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 advertisement Qrdinance # 213 as it was pi lilted in the regular and entire issue of the Tr, City Herald itself and not in a supplement thereof, for a period of one time YoligOlfailk1WaIMCcommencing on the 7th day of Narch ,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 -- Subscribed and sworn to before me this 7th day of March ,19 80 d Notary Public in and for the State of Washington, residing at KennevackG1,..-..c,0 March 4, 1980 Tri City Herald P.O. Box 2608 Pasco, Washington 99302 Gentlemen: Please publish the attached Ordinances On the followinn date: March 7, 1980 Please send two (2) Affidavits of Publication for each. Sincerely yours, Evelyn Wells City Clerk ew