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HomeMy WebLinkAbout2278 OrdinanceATT is, City Clerk Eve ORDINANCE NO. 2278 AN ORDINANCE providing for the issuance of Local Improvement District No. 113 warrants, setting the rate of interest for said Interest bearing warrants, and naming Peoples National Bank as the lending institution. WHEREAS, Ordinance No. 2250 established Local Improvement District No. 113; and WHEREAS, 13Peoples National Bank has agreed to purchase these % warrants for interest; and WHEREAS, the City Council has now determined that the issuance of interest bearing warrants to Peoples National Bank for the construction payments on L.I.D. No. 113 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 1961 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. 113. Section 2. The revenue warrants shall bear interest at the rate of 13% per annum. Section 3. The Local Improvement District No. 113 revenue warrants shall be issued to Peoples National Bank at the rate of interest specified herein. Section 4. The Local Improvement District No. 113 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. 6 PASSED by the City Council of the City of Pasco this day of owe. Air lEatig • i.er, Mayor APPROVED AS TO FORM: 7 Dennis J. De Felice Acting City Attorney •t July , 1981. r Ordinance No 2278 n An ordinance providing , for the issuance of Local Improvement District No 113 warrants, setting the rate of interest for said in- terest bearing warrants, and naming Peoples Nation- al Bank as the lending Institution Whereas, Ordinance No 2250 established Local Im- provement District No 113, and Whereas, Peoples National Bank has agreed to pur- chase these warrants for 13% interest, and Whereas, the City Council has now determined that the issuance of interest bearing warrants to Peoples National Bank for the con- struction payments on L I D No 113 Is 11 the best inter- est of the City of Pasco, now, therefore, The City Council of the City of Pucci 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 Improvement district warrants, known as revenue warrants, to be dated as funds are required to pay construction costs for Local Improvement District No 113 Section 2 The Revenue warrants shall bear Interest at the rate of 13% per annum Section 3 The Local Im- provement District No 113 revenue warrants shall be issued to Peoples National Bank at the rate of interest specified herein Sedion 4 The Local Im- provement District No 113 revolue warrants shall be rot trine th9 sale at '1.)3 Scctlei. 5 'This brdinbnce I.- shall be /tn 'full force end I 16 effect after ts passage and 1 Publication as required by law Passed by the City Coun- cil of the City of Pasco this 6 day of July, 1981 -s E A Snider, Mayor Attest • Evelyn Wells, City Clerk Approved as to Form ° -s- Dennis J De Felice Acting City Attorney Legal No 11007 — July 10, 1981 r- AFFIDAVIT OF PUBLICATION COUNTY OF Franklin )ss STATE OF WASHINGTON Phyllis Graves , being first duly sworn on oath deposes she Principal Clerk and says is the of the Tr-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 advertiselnent Ord. # 2278 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 clitErklitrZORIets, commencing on the 10th day of July , 1 9 81 , 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 $ 3 9. 00 has been paid in full, also at the rate of 61,-- in.@ 6.00 = 39.00 10th July Subscribed and sworn to before me this day of , 81 19 d Notary Public in and for the State of Washington, residing at Pasco 1.INANCE l'AR IIMEN I (509) itS 3401 Scan 726-3401 CITY of • 01. P 0 BOX 293 412 WEST CLARK PASCO, WASHINGTON 99301 July 7, 1981 Tri City Herald P 0 Box 2608 Pasco, Washington 99302 Gentlemen Please publish the attached Ordinances on the following date July 10, 1981 Please send two (2) Affidavits of Publication for each Sincerely yours, Evelyn Wells City Clerk ew