HomeMy WebLinkAbout2176 OrdinanceChet Bailie, Mayor
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n Wells, City Clerk
ORDINANCE NO. 2176
AN ORDINANCE providing for the issuance of Local Improvement District
No. 107 warrants, setting the rate of interest for said
interest bearing warrants, and naming Peoples National
Bank as the lending institution.
WHEREAS, Ordinance No. 2152 established Local Improvement District
No. 107, and
WHEREAS, Peoples National Bank has agreed to purchase these
warrants for 7 1/8% interest, and
WHEREAS, the city council has now determined that the issuance of
interest bearing warrants to Peoples National Bank for the construction
payments on L.I.D. No. 107 is in the best interest of the City of Pasco;
NOW, THEREFORE,
THE CITY COUNCIL OF THE CITY OF PASCO DOES ORDAIN AS FOLLOWS
Section 1. Pursuant to Chapter 165 of the Laws of 1961 of the State
of Washington, there shall be issued local improvement district warrants,
known as revenue warrants, to be dated as funds are required to pay
construction costs for Local Improvement District No. 107.
Section 2. The revenue warrants shall bear interest at the rate
of 7 1/8% per annum.
Section 3. The Local Improvement Distract No. 107 revenue warrants
shall be issued to Peoples National Bank at the rate of interest
specified herein.
Section 4. The Local Improvement District No. 107 revenue warrants
shall be redeemed upon the sale of bonds.
Section 5. 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 7 day of
July , 1980.
APPROVED AS TO FORM:
Dennis J. De e [e, City Attorney
FINAN( E DEPARTMENT
15091 515 3101
Sean 726-31.01
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P 0 BOX 293 412 WEST CLARK PASCO, WASHING1 ON 99301
July 8, 1980
Tri City Herald
P 0 Box 2608
Pasco, Washington 99302
Gentlemen
Please publish Ordinance Nos 2170, 2174, 2175, 2176, 2177 and
2178 on the following date
July 11, 1980
Please send three (3) Affidavits of Publication for Ordinance Nos
2175, 2176, 2177 and 2178
Please publish Ordinance No 2172 on the following date and send
three (3) Affidavits of Publication
July 11, 1980
July 18, 1980
Sincerely yours,
Evelyn Wells
City Clerk
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