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ORDINANCE NO. 2177
AN ORDINANCE providing for the issuance of Local Irprovement District
No. 108 warrants, setting the rate of interest for said
interest bearing warrants, and naming Pacific National
Bank as the lending institution.
WHEREAS, Ordinance No. 2164 established Local Improvement District
No. 108, and
WHEREAS, Pacific National Bank has agreed to purchase these
warrants for 7.50% interest, and
WHEREAS, the city council has now determined that the issuance of
Interest bearing warrants to Pacific National Bank for the construction
payments on L.I.D. No. 108 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 1951 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. 108.
Section 2. The revenue warrants shall bear interest at the rate
of 7.50% per annum.
Section 3. The Local Improvement District No. 108 revenue warrants
shal] be issued to Pacific National Bank at the rate of Interest
specified herein.
Section 4. The Local Improvement District No. 108 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.
Chet Bailie, Mayor
ian"flells, City Clerk
411
APPROVED AS TO FORM.
Denn s J. De F
Ordinance No 2177
An Ordinance providing
for the issuance of Local
Improvement District No
108 warrants, setting the
rate of interest for said in
terest bearing warrants
and naming Pacific National
Bank as the lending
institution
Whereas ,Ordinance No
2164 established Local Im
provement District No 108,
and
Whereas Pacific National
Bank has agreed to pur
chase these warrants for
750% interest and
Whereas, the city council
has now determined that
the issuance of Interest
bearing warrants-, to Pacific
National Bank for • the con
struction payments on L I D
No 108 is in the best inter
0 est 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 Wash
ington, there shall be issued
local imp 4 ovement district
warrants known as revenue
warrants, '' to be dated as
funds are required to Day
construction costs for Local
Improvemrnt District No
108
Section 2 The revenue
warrants shall bear interest
at the rate of 7 50% per
annum
Section 3 The Local Im
provement District No 108
revenue warrants shall be
issued to Pacific National
Bank at the rate of interest
specified herein
Section 4 The Local im
provement District No 108
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 Coun
cil of the City of Pasco this
7th day of July, 1980
s Chef Bailie,
Mayor
Attest
s Evelyn Wells
City Clerk
Approved as to form
s Dennis J De Felice,
City Attorney
Legal Na 8434 July 11,
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 -Principal 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 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 advertisement
Ord.. # 2177
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 ta,me
atiUSisXdeKs, commencing
on the 11th day of
J uly , 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 $ 35.43 has been paid in full, also at the rate of
63-1--, . (c-D 5.45 = 35.43
Subscribed and sworn to before me this 1 4th day of July , 19 80
2
Notary Public Public in and for the State of Washington residing at Pasco
• FINANCE DEPARTMENT
15091 545 3401
Scan 726-3401
CITY
of
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11•AMMNIYARtamitiri•SM-44;ea.44.04.,.......r - -:-.2140•44EFIE-analialrainaqUal t
P 0 BOX 293 412 WEST CLARK PASCO, WASHINGTON 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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