HomeMy WebLinkAbout2150 OrdinanceCITY OF PASCO, WASHINGTON
ORDINANCE NO. 2150
AN ORDINANCE establisning Consolidated Local
Improvement District No. 103/104 and "Consoli-
dated Local Improvement Fund, District No. 103/
104;" fixing the amount, form, date, interest
rate, maturity and denominations of the Con-
solidated Local Improvement District No. 103/104
Bonds; and confirming the sale and directing the
Issuance and delivery thereof to Foster & Marshall
Inc., Seattle, Washington.
WHEREAS, the City Council of the City has heretofore created
Local Improvement Districts Nos. 103 and 104 for various purposes; and
WHEREAS, Chapter 44, Laws of the State of Washington, 1967,
Ex. Sess. (RCW 35.45.160), authorized the establishment of consolidated
local improvement districts for the purpose of issuing bonds only and
provides that if the governing body of any municipality orders the
creation of such consolidated local improvement district, the money
received from the installment payment of the principal of and interest
on assessments levied witnin original local improvement districts shall
be deposited in a consolidated local improvement district bond redemp-
tion fund to be used to redeem outstanding consolidated local improve-
ment district bonds; NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO
ORDAIN as follows:
Section 1. For the purpose of issuing bonds only, those
local improvement districts of the City of Pasco, Washington (the
"City"), established by the following ordinances, respectively, the
30-day period for making cash payment of assessments without interest
in each local Improvement district having expired in the case of the
assessments for each local improvement district, are hereby consolidated
into a consolidated local Improvement district to be known and designated
as "Consolidated Local Improvement District No. 103/104:"
Local Improvement Created by
Districts Nos. Ordinances Nos.
103 2017
104 2038
Section 2. There is hereby created and established in the
office of the Director of Finance of the City for Consolidated Local
Improvement District No. 103/104 a special consolidated Local improve-
ment district fund to be known and designated as "Consolidated Local
Improvement Fund, District No. 103/104" (hereinafter called the "Bond
Fund"). All money presently on hand representing collections per-
taining to installments of assessments, and interest thereon, in each
of the local improvement districts listed in Section I shall be trans-
ferred to and deposited in the Bond Fund and all collections pertaining
to assessments on the assessment rolls of those local improvement
districts when hereafter received shall be deposited in the Bond Fund
to be issued to redeem outstanding Consolidated Local Improvement
District No. 103/104 bonds.
Section 3, "Consolidated Local Improvement District No.
103/104 Bonds" (hereinafter called the "Bonds") shall be issued in the
total principal sum of $2,365,371.65, being the total amount on
the assessment rolls of Local Improvement Districts Nos. 103 and 104
remaining uncollected after the expiration of the 30-day Interest free
prepayment period. Bond No. 1 shall be in the denomination of
$5,371.65, and the remaining Bonds numbered 2 to 473, inclusive, shall
be in the denomination of $5,000.00 each. The Bonds shall all be
dated May 1, 1980, and snail be payable on May 1, 1992, with the right
reserved to the City to redeem the Bonds prior to maturity on any
interest payment date, in numerical order, lowest numbers first,
whenever tnere shall be sufficient money in the Bond Fund to pay the
Bonds so called and all lower numbered Bonds over and above the amount
required for the payment of the interest on all unpaid Bonds, by
publishing notice of such call once in the official newspaper of the
City not less than ten nor more than twenty days prior to the call
date and by mailing within the same period a copy of such notice of
call to the main office of Foster & Marshall Inc., in Seattle,
Washington, or its successor. Upon such call date the interest on
the Bonds so called shall cease and each and every coupon representing
interest not accrued on such date shall be void.
The Bonds shall bear interest at the rate of 10 80° per annum,
payable annually, beginning May 1, 1981, to be represented by interest
coupons to maturity attached to each Bond.
Section 4. The Bonds and coupons snail be printed on litho-
graphed or engraved paper in a form consistent with this ordinance
and state law. The Bonds shall be signed by the facsimile signature
of the Mayor and attested by the manual signature of the City Clerk
and shall have a facsimile reproduction of the seal of the City
imprinted thereon, and the coupons shall bear the facsimile signatures
of the Mayor and the City Clerk.
Section 5. Foster & Marshall Inc. of Seattle, Wasnington,
has offered to purchase all of the Bonds at a price of par, plus
accrued interest from the date of the Bonds to the date of their
delivery to the purchaser, the City to furnish the printed Bonds and
the approving legal opinion of Roberts, Shefelman, Lawrence, Gay &
Moch, municipal bond counsel of Seattle, Washington, at the City's
expense. Bond counsel shall not be required to review nor express
any opinion concerning the completeness or accuracy of any official
statement, offering circular or other sales material issued or used
in connection with the Bonds, and bond counsel's opinion shall so
state. The City Council, deeming that it is in the best interest of
the City to accept such offer, duly accepts the same. The Bonds shall,
therefore, immediately upon their execution, be delivered to Foster
& Marsnall Inc., Seattle, Washington, upon payment therefor in
accordance with such offer,
Section 6. This ordinance shall become effective five days
after its passage, approval and publication as provided by law.
PASSED by the City Council and APPROVED by the Mayor of the
City of Pasco, Washington, at a regular open public meeting thereof,
this 21st day of April, 1980.
Mayor
Kennewick WA 99336
Legal No 7836 — April 25
1980
State of Washington
• Department of Ecology
Notice of Application to
Approrpalte Public Waters
Take Notice
That Burlington Northern,
Incorporated of Pasco,
Washington on January 7,
1980 under Application No
S3 26448 flied for permit to
appropriate public waters
subject to existing rights,
from Columbia River (Lake
Wallula) in the amount of
13 33 cubic feet per second
each year, for the purpose
of seasonal irrigation of 600
acres
The sources of the pro
posed appropriation is to
cated within SE 1/4SW Vi of
Section 3 Township 7 N
Range 31E W M In Walla
Walla County
Protests or objections to
approval of this application
include a detailed statement
of the basis for objections
protests must be accom
ponied by a two dollar
(52 00) recording fee and
filed with the Department of
Ecology, at the address
shown below, within thirty
(30) days from April 25
1980
State of Washington
Department of
Ecology
East 103 Indiana
Spokane, WA 99207
Legal No 7769 — April 18
& 25, 1980
In the Superior Court of
the State of Washington in
and for the
County of Franklin
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Al l• IDAVIT OF PUBLICATION
COUNTY OF Franklin
)ss
SI ATE OF WASHINGTON
Phyll -L$ GrayQ f3 , being first duly sworn on oath deposes
she isthe Principal Ulerk and says of the Tr' 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 County,
Washington, and is now and during all of said time was punted in an office maintained
at the a foi esaid place of publication of said newspaper That the annexed is a true
copy ot a legl advertlement
Ordinance # 2150
as it was printed in the regular and entire issue of the Tri City Herald itself and not in a
supplement thereof, for a period of one time
on the 25th day of
April
ending on the day of , 19 , and that said
newspaper was regularly dist' ibuted to its subscribers during all of this period
That the full amount of $ 1 25 . 5 5 has been paid in full, also at the rate of
23 in. E-ID 5.45 = 125.35
iiiics7e-aiVeYsAeli:6, commencing
,19 8 °, and
a-v-e-
Subso ibed and sworn to before me this 25th day of April , 19 80
Notary Public in and for the State of Washington, residing at IQ:4==k c1144,-cs
April 22, 1980
Tri City Herald
P.O. Box 2608
Pasco, Washington 99302
Gentlemen.
Please publish the attached Ordinance on the following
date.
April 25, 1980
Please send three (3) Affidavits of Publication.
Sincerely yours,
Evelyn Wells
City Clerk
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