HomeMy WebLinkAbout2178 OrdinanceChet Bailie, Mayor —K...,/
lls, City Clerk
ATT T
APPROVED AS TO FORM:
A
, S
e nis J. De Fe ice, City Attorney
ORDINANCE NO. 2178
AN ORDINANCE providing for the issuance of Local Improvement District
No. 109 warrants, setting the rate of interest for said
interest bearing warrants, and naming Pacific National
Bank as the lending institution.
WHEREAS, Ordinance No. 2162 established Local Improvement District
No. 109, 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 construct3on
payments on L.I.D. No. 1091s 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 imnrovement district warrants,
known as revenue warrants, to be dated as funds are required to pay
construction costs for Local Improvement District No. 109.
Section 2. The revenue warrants shall bear Interest at the rate
of 7.50% per annum.
Section 3. The Local Improvement District No. 109 revenue warrants
shall be issued to Pacific National Bank at the rate of interest
specified herein.
Section 4. The Local Improvement District No. 109 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
July , 1980 '1
7 day of
Ordinance No 2178 t
An , Ordinance providing
for the issuance of Local
Improvement District No
109 warrants, setting the
rate of interest for said in
terest bearing warrants
and naming Pacific National
Bank as the lending
institution A
Whereas, Ordinance No
2162 established Local L' Im
provement District No 109,
and
Whereas Pacific National
Bank has agreed to pur
chase 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 con
struction payments on LI D
No 109 is in the , best inter
est of lhe City ' of Pasco
now, therefore,
The City Council of the
City of Pasco does ordain
as foltows
Section 1 Pursuant to
Chapter 165 of the Laws of
1961 15f the State of Wash
ington, 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
109
Section 2 The revenue
warrants shall bear interest
at the rate of 7 50% per
annum
Section 3 The Local i,,
provement District No 109
revenue warrants shall be
issued to Pacific National
Bank at the rate of interest
specified herein
Section 4 The Local im
provement District No 109
revenue warrants shall be
redeemed upon the , sole of
l 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 Coon
cil of the City of Pasco this
7th day of July, 1980
-s Chet Bailie,
Mayor
Attest
s Evelyn Wens,
City Clerk
Approved as to form
-s Dennis J De cellce,
City Attorney
Legal Ho 8035 - July
1900
11,
AFFIDAVIT OF PUBLICATION
COUNTY OF Franklin
)ss
STATE OF WASHINGTON
Phyllis Graves , being first duly sworn on oath deposes
and says she is the Princlpal 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-
Franklin paper in 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
Ordinance # 2178
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 Xd1leY5INTIEWYeks, commencing
J u l y on the 11th day of , 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
64 in.@ 5.45 = 35.43
Subscribed and sworn to before me this 1 4th day of July 19 80
Notary Public in and for the State of Washington, residing at Pasco
FINANCE DF PARTMENT
(509) 515 3401
Scan 726-3401
CITY
of
11.111,E•iir- ti re,
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
ew