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HomeMy WebLinkAbout1939 ResolutionRESOLUTION NO. •939 A RESOLUTION providing for the method of payment of assessments on the assessment roll for the 20th Avenue and 4th Avenue sidewalk project affirmed by Ordinance No. 272 and providing for interest on unpaid installments and fixing the rate thereof; and further providing for a means of financing until the assessments are paid in full; and further providing for the creation of the 20th Avenue/4th Avenue Sidewalk Fund and new Chapter 3.126 PMC. WHEREAS, The City Council by Ordinance No. 2792 has affirmed the assessment roll for the 20th Avenue/4th Avenue sidewalk project authorized by Resolution No. 1915, and a method of payment of the assessments must be specified; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASCO, WASHINGTON, DO RESOLVE AS FOLLOWS: Section 1. The assessment roll as approved and confirmed by Ordinance No.2792 for the construction of sidewalks on 20th Avenue and 4th Avenue authorized by Resolution No. 1915, shall be filed with the City Finance Director for collection and the City Finance Director is authorized and directed to publish and mail notice stating that the roll is in his hands for collection and that payment of any assessment thereon or any portion of such assessment can be made at any time within thirty days from the date of first publication without penalty, interest or costs, and that thereafter the sum remaining paid may be paid in ten (10) equal annual installments together with an administrative charge of fifty dollars ($50.00). The interest rate on the unpaid balance is stated to be eight percent (8%) per annum. The first installment of asessments 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 Finance Director 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 first 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, shall be collected. Any installment not paid prior to the expiration of the thirty-day period during which such installment is due and payable shall thereupon become delinquent. The collection of such delinquent installments shall be enforced by a foreclosure action in the same manner and with the same effect as is provided by Chapters 35.43 to 35.54 RCW, inclusive; as now or hereafter amended, whenever any payment on any assessment is delinquent and unpaid for a period of thirty (30) days or more. Section 2. Financing for the costs of the improvements until the assessments are paid may be provided by a loan of up to $12,000.00 from the City General Fund, with interest at eight percent (8%) per annum to the 20th Avenue/4th Avenue sidewalk Construction Fund. Section 3. New Chapter 3.126 PMC title 20th Avenue/4th Avenue Sidewalk Construction Fund is hereby created to read as follows: APPROVED AS TO FORM: 1 ells, City Clerk Greg Rubstello, City Attorney AT CHAPTER 3.126 20TH AVENUE/4TH AVENUE SIDEWALK Sections: 3.122.010 Created. 3.122.020 Purpose 3.122.010 CREATED. A fund to be known as the 20th Avenue! 4th Avenue Sidewalk Construction Fund is hereby established. 3.122.030 PURPOSE. The fund is to provide for a fund for the receipt and accounting of financing of the improvements until the assessments are paid and for the accounting of the receipts of the assessments in connection with the assessment roll for the 20th Avenue and 4th Avenue sidewalk improvements. PASSED by the City Council and APPROVED by the Mayor this 15th day of October, 1990. 0 1199'9T