HomeMy WebLinkAbout2180 OrdinanceCHET BAILIE, MAYOR
ATT
ells, City Clerk
ARP OVED AS TO FORM,.-.,
jiff ennis J DeFe i
evAAA -,,i
ttorney
ORDINANCE NO 2180
AN ORDINANCE PROVIDING FOR THE ISSUANCE OF LOCAL IMPROVE-
MENT DISTRICT NO 110 WARRANTS, SETTING THE RATE OF INTEREST
FOR SAID INTEREST BEPRING WARRANTS, AND NAMING SEPTTLE FIRST
NATIONAL BANK AS THE LENDING INSTITUTION,
WHEREAS, Ordinance No. 2169 established Local Improvement District No
110, and
WHEREAS, Seattle First National Bank has agreed to Purchase these
warrants for 7 30% interest, and
WHEREAS, The City Council has now determined that the issuance of
interest bearing wayrants to Seattle First National Bank for the construction
payments on L I D No 110 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 I Pursuant to Chapter 165 of the Laws of 1961 of the State of
Washington, there shall be issuea Local Improvement District Warrants, known as
Revenue Warrants, to be dated as funds are required to pay construction costs for
Local Improvement District No 110
Section 2 The Pevenue Warrants shall bear interest at the rate of 7 30%
per annum
Section 3 The Local Improvement District No 110 Revenue Warrants shall
be issued to Seattle First National Bank at the rate of interest specified herein
Section J The Local Improvement District No 1 10 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 21 day of
Jqly , 1980
Subscribed and sworn to before me this
r Ordinance No 2180
An ordinance providing
,toF the issuance of Local
'Improvement District No
110 warrants, setting the
rate of interest for said in-
terest bearing warrants,
and naming Seattle First
National Bank as the lend-
ing institution
WHEREAS, Ordinance No
2169 established Local Im-
provement District No 110,
and
WHEREAS, Seattle First
National Bank has agreed
to purchase these warrants
for 730% interest, and
, WHEREAS, The City
, Council has now determined
that the issuance of interest
bearing warrants to Seattle
I First National Bank for the
, constructiop payments on
LID No 110 is in the best
interest ' the City of Pas-
co, now, therefore,
The City Council of the
City of ,Pasco does ordain
as follow.,
Section 1 Pursuant to
Chapter 165 of the Laws of
1961 of the State of Wash-
ington, there shall be issued
Local Improvement District
Warrants, known as Reve-
nue Warrants, to be dated
as funds are required to
pay construction costs for
Local Improvement District
No 110
Section 2 The Revenue
Warrants shall bear interest,
at the rate of 7 30% per
annum
Section 3 The Local Im-
orovement District No 110
Revenue Warrants ,shall be
Issued to Seattle, First, Na-
tional Bank-at the , rate of
Interest specifiednherein.
- - - -- — -- -_-
Section 4 ', ;The -Local Im-
provement District No 110
Revenue Warrants shall be
redeemed upon the sole 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
21 day of July, 1980
$ Chet Bailie
Mayor
Attest ,
s- Everlyn Wells,
City Clerk
Approved as to form
-s- Dennis J De Felice, City Attorney
Legal No 8548 — July 25, 1980
—
and says
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
Ord. # 2180
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 plociotrxgs.”gggb:s, commencing
on the 25th day of July , 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
6,-(.7 in.@ 5.45 = 35.43
25th daya July , 19 80
2
Notary Public in and for the State of Washington, residing at Pasco
AFFIDAVIT OF PUBLICATION
COUNTY OF Franklin
)ss
STATE OF WASHINGTON
Phyllis Graves , being first duly sworn on oath deposes
she Principal Clerk is the of the Tri-City Herald,
FINANCE II PARTMENT
I509) 515 3101
Scan 726 3401
CITY
of
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P 0 BOX 293 412 WEST CLARK PASCO, WASHING FON 99301
July 22, 1980
In City Herald
P 0 Box 2608
Pasco, Washington 99302
1 Gentlemen
1 Please publish the attached Ordinances on the following
date
July 25, 1980
Please send two Affidavits of Publication for each
Sincerely yours,
Evelyn Wells
City Clerk
ew