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Home My WebLink About2262 Ordinance1 n CITY OF PASCO, WASHINGTON ORDINANCE NO. 2262 AN ORDINANCE fixing the amount, form, date, interest rate, maturity and denominations of Local Improvement District No. 109 Bonds and directing the issuance and sale thereof to Foster & Marshall Inc., of Seattle, Washington. THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO ORDAIN, as follows: Section 1. The total amount of the assessment roll in Local Improvement District No. 109 in the City of Pasco, Washington (the "City"), created under Ordinance No. 2162 passed May 19, 1981, was $2,236,954.17. The 30-day period for making cash payments of assessments without interest in the District expired on April 9, 1981, and the total amount of assessments paid in cash was $23,991.32, leaving a balance of assessments unpaid on the assess- ment roll in the sum of $2,212,962.85. Local improvement district bonds of Local Improvement District No. 109 shall, therefore, be issued in the total principal sum of $2,212,962.85. Bond No. I shall be in the denomination of $7,962.85, and the remaining bonds numbered 2 to 442, inclusive, shall be in the denomination of $5,000.00 each. The bonds shall all be dated May 1, 1981, and shall be payable on May 1, 1993, with the right reserved to the City to redeem the bonds prior to maturity on any interest payment date, in numerical order, lowest numbers first, whenever there shall be sufficient money in the "Local Improvement Fund, District No. 109," created by Ordinance No. 2162, to pay the bonds so called and all earlier numbered bonds over and above the amount required for the payment of the interest on all unpaid bonds, by publishing notice of such call once in the official newspaper of the City, or if there is no official newspaper, then in a newspaper of general circulation in the City, not less than 10 nor more than 20 days prior to the call date, and by mailing a copy of such notice within the same period to the main office of Foster & Marshall Inc. in Seattle, Washington, and upon such date the interest on bonds so called shall cease and each and every coupon representing interest not accrued on such date shall be void. The bonds shall bear inter- est at the rate of/A% per annum, payable annually, beginning May 1, 1982, to be represented by interest coupons to maturity attached to each bond. Both principal of and interest on the bonds shall be payable solely out of the Bond Fund and from the Local Improvement Guaranty Fund of the City, and shall be payable in lawful money of the United States of America at the office of the Director of Finance of the City or, at the option of the holders of the bonds, at either fiscal agency of the State of Washington in Seattle, Washington, or New York, New York. Section 2. The bonds and coupons shall be printed or litho- graphed on engraved paper in a form consistent with this ordinance and state law. The bonds shall be signed by the facsimile signa- ture of the Mayor and attested by the manual signature of the City _ 2 - Mayor Clerk and shall have a facsimile reproduction of the seal of the City imprinted thereon, and the coupons shall bear the facsimile signatures of the Mayor and the City Clerk. Section 3. Foster & Marshall Inc. of Seattle, Washington, has submitted an offer to purchase all of the bonds at a price of par, plus accrued interest from the date of the bonds to the date of their delivery to the purchaser, the City to furnish the printed bonds and the approving legal opinion of Roberts, Shefelman, Lawrence, Gay & Moch, municipal bond counsel of Seattle, Washington, at the City's expense. Bond counsel shall not be required to review nor express any opinion concerning the completeness or accuracy of any official statement, offering circular or other sales material issued or used in connection with the bonds, and bond counsel's opinion shall so state. The City Council, deeming that it is in the best interest of the City that such offer be accepted, hereby accepts the same. The bonds shall, therefore, immediately upon their execution, be delivered to Foster & Marshall Inc., Seattle, Washington, upon payment therefor in accordance with such offer. Section 4. This ordinance shall take effect from and after its passage and five (5) days following its publication as required by law. PASSED by the City Council of the City of Pasco, Washington, at a regular open public meeting thereof, on the 20th day of April, 1981. AUTHENTICATED: APPROVED AS TO FORM: cit7 Attorney 4 FINANCE DEPARTMENT CITY of (509) 545-3401 Scan 726-3401 11.1465 VIV.V.Itte 4T41 - Fri . . ,a.PwriiiSAAFIVIWFATteri P 0 BOX 293 412 WEST CLARK PASCO, WASHINGTON 99301 April 21, 1981 Tri City Herald P 0 Box 2608 Pasco, Washington 99302 Gentl emen Please publish the attached Ordinances on the following date April 24, 1981 Please send two (2) Affidavits of Publication for each Sincerely yours, Evelyn Wells City Clerk ew Ordlnan ,e No 2262 An ordinance fixing the amount'. 'arm, dote, Interelt rote, maturity and denomi- nations of Local improve- ment District No 109 Bonds and directing the issuance and sole thereof to Foster Marshall Inc. of Seattle, Washington The City Council of the City of Pasco, Washington, do ordain, as follows Section 1 The total amount of the assessment roll In Local Improvement District Na 109 in the Cltir of Pasco, Washington (the "City '), created under Ordi- nance No 2162 passed May 19, 1981, was $2,236,954 17 The 30-day period for mak Ina cosh payments of as sessments without Interest in the District expired on April 9, 1981, and the total amount of assessments paid in cash was $23,991 32, leav- ing a balance of assess- ments unpaid on the assessment roll In the sum of $2,21292 85 Local Im provement district bonds of Local Improvement , District No 109 shall, therefoi e, be k Issued In the total prInclapi sum of $2,212,962 85 Bond No 1 shall be In the deno- minatIcri of $7,962 45, and the remaining bonds num- bered 2 to 442, Inclusive, shall be In the denomination of $5,000 DO each The bonds shall all be dated May 1 1981, and shall be payable on May 1, 1993 with the i right reserved to the CRY to redeem the bonds prior to maturity on any Interest payment date, In numerical order, lowest numbers first, whenever there shall be sufficient money in the ' Lo- cal improvement Fund DIs trIct No 109, created by Ordinance No 2162 to pay the bonds so called and all earlier numbered bonds over and above the amount 186l Jay woii sAolit WC) A1-1 1 114 Lime% •moiaq umous SS O lp po aus 40 'Anolopa 40 4uaw 4J 000 C1 U4 41IPA Pant Pu° C4 euipioaai (00 z$) Joi pp omi 0 Aq paluodwooao aq 4snw %sapid suoipeiqo J04 SION aqt jo 4uawa404s Palio4ap o apritouL tsnw I - DIC/Oil3 11:111 1 --CLAM !VI 01 , being first duly sworn on oath deposes and says ,->he Principal C1 erk is the of the Tr City Herald, a daily ne nA, spaper fhat said newspapei is a legal newspaper and has been appro‘ ed as a legal new sp mei by ordei 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 hci€iniltei refel ed to, published in the English language continually as a daily news PrrInklin pa pei in County, Washington and is now and during all of said time was printed in an office maintained at the afoi esaid place of publication of said new spapel That the annexed is a true cop \ of legal advertisement Ord. ir 2262 Is it was pi lilted in the regula, and entire issue of the Tri City Herald itself and not in a supplement thei cof, foi a period of one time coRsiqcgliy,e_xw,olsg, commencing on the 24th day of , 19 81 , and ending on the day of , 19 and that said newspapei n% as i egulat ly distributed to its subscribers during all of this period That the lull amount of $ 9 3 . 00 spuoq pa4upo all 04 A40 au.4 '4as0t 04 A4aAliap .4iaq4 40 04 spuoq a144 40 n LUOJ4 4saiaoi pan %Jon 40 aDpa D C44 40 ito esopint UD pewuqns sot. -usom 'aluciaS 10 St 7 r4s0A c .) JO (CI 1,..4 ti Pict p.0 ftel AFFIDAVIT OF PUBLICA1 ION COHN I ()I Franklin )ss si Al E OF WASHING I ON Phyl1 is Graves 41M-O4 'UOIflUIUSOM 40 aiots 'uoluag 40 Apnop 2 44 Ul Pa4l:M-11S A4Jado.K1 ioCJ paqinsap Ul P4101104 0144 '010S 40 00.114 OW 40 alcioAod ,Jappici 4saq pup isaueni eu4 04 uoipno oliend 40 Has 'uo4t3u14s0M 40 0404S ,x3imauuaN 40 A4ID ey4 ut 'JellmuctelD 4saM OCOC *Aucodutop e3u0insui awl DOIJOWDSUDJI 40 ODU0J400 U01 d .x3op,o - --- Notary f; A r nn r —tutu' trotili I 17 q iff poioup Auo 40 A30.1113D0 JO cauaawo C44 Ouluieouo) id o A u o SSOJD MOIA0.1 04 paJmo lump lasunoa it '1 1 ato 40 o is has been paid in full, also at the i ate of c- C1Cl — FINANCE DEPARTMENT (509) 515 3401 Scan 726 3401 P 0 BOX 293 412 WEST CLARK PASCO, WASHINGTON 99301 April 21, 1981 Tri City Herald P 0 Box 2608 Pasco, Washington Q9302 Gentlemen Please publish the attached Ordinances on the following date April 24, 1981 Please send two (2) Affidavits of Publication for each Sincerely yours, _ Evelyn Wells City Clerk ew