HomeMy WebLinkAbout2585 OrdinanceORDINANCE NO. 2585
AN ORDINANCE Fixing an Interest Rate on Local Improvement
District No. 119 Assessments; and amending Ordinance No. 2575.
WHEREAS, on November 4, 1985, the City Council passed
Ordinance No. 2575 confirming the final assessment roll on Local
Improvement District No. 119; and
WHEREAS, said Ordinance No. 2575 at Section Three thereof,
estimated an interest rate of 10.5% per annum with the exact
interest rate to be fixed in the Ordinance authorizing the
issuance and sale of local improvement bonds for Local
Improvement District No. 119; and
WHEREAS, because the financing of Local Improvement
District No. 119 will be made by interfund investment and
borrowing with total interest thereon at 10.5% per annum and no
ordinance authorizing the issuance and sale of local improvement
bonds for Local Improvement District No. 119 need be made, NOW,
THEREFORE,
THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO
ORDAIN AS FOLLOWS:
Section One. Section Three of Ordinance No. 2575,
passed by the Pasco City Council on November 4, 1985, is hereby
amended to read as shown by underlining and interdelineation, as
follows:
Section Three. The assessment roll as approved and
confirmed shall be filed with the City Treasurer for collection
and the City Treasurer is authorized and directed to publish
notice as required by law stating that the roll is in his hands
for collection and that payment of any assessment thereof or any
portion of such assessment can be made at any time within thirty
(30) days from the date of first publication of such notice
without penalty, interest or cost, and that thereafter the sum
remaining unpaid may be paid in ten (10) equal annual
installments. The estimated interest rate is stated to be 10.5%
per annum, on all assessments after thirty (30) days from the
date of first publication of said notice, until each such
assessment is paid in full including all interest thereon. with
the-exaet-imterest—rate-te-be-fixed-im-the-erdiaamee-autherisimg
the-issuamee-7amd-saie--ef—the-leeal-imprevememts-bemds-fer-Leeal
imprevememt-bemds-fer-Leeal--Emprevememt--Bistriet--Ne7-ii97 The
first installment of assessments on the assessment roll shall
become due and payable during the thirty-day period succeeding
the date one year after the date of first publication by the City
Treasurer of notice that the assessment roll is in his hands for
collection and annually thereafter each succeeding installment
shall become due and payable in like manner. If the whole or any
portion of the assessment remains unpaid after the thirty-day
period, interest upon the whole unpaid sum shall be charged at
the rate as determined above, and each year thereafter one of the
installments together with interest due on the unpaid balance,
APPRO D AS
shall be collected. Any installment not paid prior to expiration
of the thirty-day period during which such installment is due and
payable shall thereupon become delinquent. All delinquent
installments shall be subject to a charge for interest at the
rate as determined above and for an additional charge of six
percent (6%) penalty levied upon both principal and interest due
upon such installment or installments. The collection of such
delinquent installments shall be enforced in the manner provided
by law.
Section Two. This ordinance shall take effect five (5)
days after passage and publication.
PASSED this c7/O day of January, 1986 and approved by
the Mayor.
ATTE
velyn Wells, City Clerk
Greg ubs llo, City At orney
AFFIDAVIT OF PUBLICATION
, being first duly sworn on oath deposes
and says s he is the princl pal 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 here
inafter referred to, published in the English language continually as a daily newspaper in
Benton 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 Ad "Ordinance RP 2585"
as it was printed in the regular and entire issue of the Tn City Herald itself and not in a
supplement thereof, for a period of one i Times, commencing
24 Jan day of uary 86 , 19 on the , and
ending on the 24 day of January
newspaper was regularly distributed to its subscribers during all of this period
That the Total amount is $ 95 63
12 5 inches at $7 65 = 95 63
Subscribed and sworn to before me this 24 day of January 19 86
No ry Public in and for the State of Washington, residing at Pasco
LEGALS
installment is due and pay-
able shall thereupon be-
come delinquent All
delinquent installments
shall be subject to a charge
for interest at the rate as
determined above and for
an additional charge of six
percent (6%) penalty levied
upon both principal and in-
terest due upon such instal-
lment or installments The
collection of such delin-
quent installments shall be
enforced in the manner pro-
vide() by law
Section Two This ordi-
nance shall take effect five
(5) days after passage and
publication
PASSED this 20 day of
January 1986 and ap-
proved by the Mayor
-s-Joe W Jackson
Mayor
A
-a-Evelyn Wells.
City Clerk
APPROVED AS TO FORM
-s-Greg A Rubstello,
City Attorney
LEGAL NO 20375 -
January 24,1086
COUNTY OF Benton
)ss
STATE OF WASHINGTON
Kathleen Stangel and
, 1986 , and that said
ORDINANCE NO 2585
AN ORDINANCE Fixing
an In arest Rate on Local
Improvement District No
119 Assessments and
arnAnding Ordinance No
2575
WHEREAS on Novem-
ber 4 1985 the City Coun-
cil passed Ordinance No i
2575 confirming the final
assessment roll on Local
Improvement District No
119 and
WHEREAS said Ordi-
nance No 2575 at Section
Three thereof, estimated an
interest rate of 10 5% per
annum with the exact inter-
est ratb to be fixed in the
Ordinance authorizing the
issuance and sale of local
limprovement bonds for
Local Improvement District
, No 119 and
WHEREAS because the
financing of Local Im-
provement District No 119
I will be made by interfund
investment and borrowing
with total interest thereon at
10 5% per annum and no
ordinance authorizing the
issuance and sale of local
'improvement bonds for
Local Improvement District
No 119 need by made,
NOW THEREFORE
, THE CITY COUNCIL OF
THE CITY OF PASCO,
WASHINGTON DO OR-
DAIN AS FOLLOWS
Section One Section
'Three of Ordinance No 1 2575 passed by the Pasco
City Council on November
4, 1985 is hereby amended
to read as shown by under-
lining and interdelineation
as follows
Section Three The as-
sessment roll as approved
and confirmed shall be filed
with the City Treasurer for
collection and the City
Treasurer is authorized and
directed to publish notice
as required by law stating
that the roll is in his hands
for collection and that pay-
ment of any assessment
thereof or any portion of
such assessment can be
made at any time within
thirty (30) days from the
date of first publication os
such notice without pen-
alty interest or cost and
that thereafter the sum re-
maining unpaid may be
paid in ten (10) equal an-
nual installments The in-
terest rate is stated to be
10 5% per annum, on as-
sessments after thirty
(30) days from the date of
first publication of said
notice, until each ouch se-
easement Is paid in full in-
cluding all Interact
thoreon The first instal-
lment of assessments on
the assessment roll shall
become due and payable
during the thirty-day period
succeeding the date one
year after the date of first
publication by the City
Treasurer of notice that the
assessment roll is in his
hands for collection and an-
nually thereafter each suc-
ceeding installment shall
become due and payable in
like manner If the whole or
any portion of the assess-
ment remains unpaid after
the thirty-day period inter-
est upon the whole unpauid
sum shall be charged at the
rate as determined above
and each year thereafter
one of the installments to-
gether with interest due on
the unpaid balance shall
be collected Any instal-
lment not paid prior to ex-
priration of the thirty-day
period during which such
, FINANCE DEPARTMENT
Isool 545-3401
Stan 126-3401
CITY
of
P 0. BOX 293 412 WEST CLARK PASCO, WASHINGTON 99301
January 21, 1986
Tri City Herald
P.O. Box 2608
Pasco, Washington 99302
Attn: Rochelle
Dear Rochelle:
Please publish Ordinance No. 2585 on the following
date:
January 24, 1986
Please send three (3) Affidavits of Publication.
Sin e ely yours,
velyn Wells
City Clerk
ew