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Home My WebLink About2270 OrdinanceCITY OF PASCO, WASHINGTON ORDINANCE NO. 2270 AN ORDINANCE fixing the amount, form, date, interest rate, maturity and denominations of Local Improvement District No. 108 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. 108 in the City of Pasco, Washington (the "City"), created under Ordinance No. 2164 passed June 2, 1980, was $439,014.33. The 30-day period for making cash payments of assess- ments without interest in the District expired on March 24, 1981 , 1981, and the total amount of assessments paid in cash was $5,419.93, leaving a balance of assessments unpaid on the assessment roll in the sum of $433,594.40. Local improvement district bonds of Local Improvement District No. 108 shall, therefore, be issued in the total principal sum of $433,594.40. Bond No. 1 shall be in the denomination of $8,594.40, and the remaining bonds numbered 2 to 86, inclusive, shall be in the denomination of $5,000.00 each. The bonds shall all be dated May 15, 1981, and shall be payable on May 15, 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. 108," created by Ordinance No. 2164, 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 interest at the rate ofha % per annum, payable annually, beginning May 15, 1982, to be represented by interest coupons to maturity attached to each bond. Both prin- cipal 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 City Director of Finance 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 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. APPROVED AS TO FORM- Cit Attorney 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 re- view 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 and APPROVED by the Mayor of the City of Pasco, Washington, at a regular open public meeting thereof, on the 1st day of June, 1981. 10. n oKe e n teLl J C ar'er Its passage, and five (5) days ff lowly Its pub- •' ▪ Ion as Jeguly by low • Passed P th! City Coun cll and Parr ed by. the Mayor of the Ity of Pasco, Washing' n, a regular open p ' Ilc eeting thereof, on th lst/ day of June, 1981 S E Snider Mayor Authenticated City Clerk Approved as to form City Attorney Legal No 10183 — June 5 S 1981 5-4,—Inn ju odua ata IIIA alas ayt 04 WI AUD 40 anp Saa4 503 MD 40 wawapis Bugsanbai auoAuo oi U t APIAOJCI HIM MO1 oj jas Si ssaappo PUD asoqm aajsnli ata . I IA aajsnli 0 uoissassoa aqj ugsod tons jo 4001c1 861 'ZZ Aionuor uo Altinop uojuag atjj Ja0 Jo 03140N uagpAs Ill gilm palsoci som 4 a Ica.: paqinsap-artoqo uo Gals:I.:I aql. Jo ssod au* ul Si t1 3 14m .ola '1861 AJODUCT P tstZ alit uo gotu 03 pun ssoia jsala Aq 80086 ym 'annallag 4189t — £ 'ia)laPaab wiaH siw puo Jw saippo PulAkollo; ow ID ID aqj col 0045cul 0 44 41PLUSUDJI soh% 41fl 0 80 0 3140N u044IJPA v I ,N saaj puD II0 SOO 4saia4ty PUD !JO aqi oulAod 4s9i94tn sa33nc •14 JO J04U010 kg aio., ow aJoiag 861 aunr jo ADP 4101 haws Jo uo aUMAUD :8 auj Aq pajoulw Q ADU1 OIDS ala plod so:, puo saw s ealSnll JD pain, Si In ODA, ty ti4.104 405 SD gnojap OM 'our(' Ja ADP qio wjaq atbi$ AUD 413 p .uJaj puo panuguoasip A OpDS ayi aps ow uonuyuopsys a asnoa aunr jo ADP 1116 9 44 in:, aq 450tu 'sadJoy3 uo isaJalui sluakuAad lipp pouoilippo Auo iii ydoJCsoiod ui cy ti siinolaP •kil 1861 lo ADP 4461 9 44 uo guirOue 10 'uoissas agg OulpioBai payd 3 SSOJOXi A4U0JJOPA , apow aq :um apas ajnjojs Aq paplAcud AFT IDAVIT OF PUBLICA1 ION COUN1Y OF Franklin )ss STATE OF WASHINGTON rhyllis Groves , being first duly sworn on oath deposes she Princiufll Clerk and says is the of the Tr-City Herald, a daily new spaper That said newspaper is a legal newspaper and has been approved as a ILO newspaper by order of the superior cow t 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 het einafter referred to, published in the English language continually as a daily news Fran kl i n paper in Fran County, Washington and is now and during all of said time was printed in an office maintained at the aft)! esaid place of publication of said newspaper That the annexed is a true copy of a legal advertisement Ord. # 2270 as it w as printed in the regular and entire issue of the Tr-City Herald Itself and not in a supplement thereof, for a period of one tirie:43vmm03,:txxe)gc commencing on the 5th day of June ,19 81 , and ending on the day of , 19 and that said new spaper was regulai ly distributed to its subscribers during all of this period That the full amount of $ 96.00 has been paid in full, also at the rate of 16 in.e 6.00 . 96.00 Subset ibed and sworn to before me this 8th day of June ,19 81 Notary Public in and for the State of Washington residing at Pasco o 4 4 4S03 FO 0 4094 E9 310 UO 10.14UO3 D 04 anina , o :Maio 40 IWO 40 apuop pps duo!' ap ILUJOI pal .404 ADM o jo atm 80 COL 40 •gP SI.£5 Lt P6E 40 .01 9C.SP OS cot 40 .,PC tZ.LZ 13E L 4 0 • PS LE.IP L6 Pal JO OC,S0.9Z uolPaS 0 1 -4.10N smogoj nauJod ;so 3 8, 6 0 1 4su jo Japont pajongs 1:014 aaj: uasuiql -1,101,A, al 1861 atjj OUliDr Jed °JO o ul 41n o tons 0E1 PL 19 J na alas aalqo asc O4 Apuno act Illm Auo uo a0190 AUt anogo ay yo 40 Unq Ag ppy I INAN( l'AR I MI N I 1100) Iv; 1101 S4 an 726 3101 Jt 1' 0 BOX 293 412 WESI CLARK PAS( 0 WASHING TON 99301 June 2, 1981 Tri City Herald P 0 Box 2608 Pasco, Washington 99302 Gentl emen Please publish the attached Ordinances on the following date June 5, 1981 Please send two (2) Affidavits of Publication for each Sincerely yours, Evelyn Wells City Clerk ew