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Home My WebLink About2160 Ordinancefr. a .4 V ORDINANCE NO. 2160 AN ORDINANCE amending Ordinance No. 2130 and Ordinance No. 2135 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 portion of any assessment was initially set at eight and three-fourths percent (8 3/4%) per annum in Ordinance No. 2130; WHEREAS, the interest rate on the unpaid portions of any assessment was then amended to nine and one-half percent (9 1/2%) per annum in Ordinance No. 2135; WHEREAS, this amended 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 ten and four-fifths percent (10 4/5%); 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 and Ordinance No. 2135 be amended so that wherever the figure eight and three-fourths percent (8 3/4%) per annum and nine and one-half percent (9 1/2%) per annum appears that it be changed to ten and four-fifths percent (10 4/5%) per annum. Section 2. The city treasurer is hereby directed to again publicize notice as required in Ordinance No. 2130 and Ordinance No. 2135 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. ST: AT Chet Bailie, Mayor ells, City Clerk APPROVED AS TO FORM: -2- Pnlz) by the City Council of the City of Pasco this 5 day of , 1980. Dennis J. De alice, ty Attorney iA44.4..ZS ^ Ordinance No 2160 An Ordinance amending Ordinance No 2130 and Or • &nonce Na 2135 relating to Local Improvement District Net, 103 and the interest rate on the unpaid portion of any assessment Whereas, the interest rate on the unpaid portions of any assessment was initially set at eight and three fourth ivercent (VA%) per annum in Ordinance No 2130, Whereas, the interest rate on the unpaid portions of any assessment was then amended to nine and one- half percent (91/2%) per on num in Ordinance Na 2135 Whereas, this amended in terest rate was based on the best available informa 'Nom at that time as to what the interest rate would be for the bonds needed to fi- nance lbe unpaid assess merts at the time they woiXd- be sold, Vereas, due to unforseen changes In the economic situ ition in the nation, par ticutarly as it applies to In terest rates, it now appears That the interest rate on the bonds needed to finance the unpaid portion of the as sessments will be ten and four fifths percent (10 1/ 5%), and Whereas, the bonds have not been sold to finance the unpaid portion of the as sessments, Now, Therefore, The City Council of the City of Pasco does ordain as follows Section 1 That Ordinance No 2130 and Ordinance No 2135 be amended so that wherever the figure eight and three-fourth percent (8 3/4%) per annum and nine and one half percent (9 1/2%) Per annum appears that it be changed to ten and four fifths percent (10-4/5%) per annum Section 2 The city treas- urer is hereby directed to again publicize notice as re- quired in Ordinance No 2130 and Ordinance No 2135 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 accepti 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 ppcgontto has rmideend ma d e the conclusion of the new thirty (30) ,day period created by this ordinance Section 4 This ordinance shall be force, and effect after Its passage and publication- as` Teaulred by " tty 'cIl of the City of Pasco this 5th daV of May, 1980 s Chet Bailie Mayor Attest s Evelyn Wells, City Clerk Approved es to form -s Dennis J De Felice, City Attorney Legal No 7944 - May 12, 1980 AFFIDAVIT OF PUBLICATION COUNTY OF F r anklin )ss STATE OF WASHINGTON Phyllis Graves , being first duly sworn on oath deposes and says she is the Principal Clerk er 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 1,egal advertisement Ord. # 2160 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 vontig-mcm6@, commencing on the 1 2th day of Nay ,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 $ 49 „ 0 5 has been paid in full, also at the rate of 9 in. @ 5.45 = 49.05 Subscribed and sworn to before me this 1 2 -th day of May , ,19 80 & Notary Public in and for the State of Washington, residing at liegtaavo441(Cia-..e.0 FINANCE DEPARTMENT (S091 515-3101 Scan 726 3401 ew Sinc y ours, Eve 5/i Wells City Clerk P 0 BOX 293 412 WEST CLARK PASCO, WASHINGTON 99301 May 6, 1980 Tri City Herald P 0 Box 2608 Pasco, Washington 99302 Gentlemen Please publish the attached Ordinances on the following -, date May 12, 1980 Please send two (2) Affidavits of Publication for each