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512_00001ORDINANCE No.512 AN ORDINANCE ORDERING THE IMPROVEMENT OF WEST BROADWAYBYGRADING,GRAVELING,CONSTRUCT- ING AND INSTALLING STORM DRAINAGE,CURBS,SIDE- WALKS AND ASPHALT CONCRETE PAVEMENT ALL IN ACCORDANCE WITH RESOLUTION No.326 OF THE CITY I COUNCIL OF THE CITY OF MOSES LAKE,WASHINGTON, ESTABLISHING LOCAL IMPROVEMENT DISTRICT No.19; PROVIDING THE METHOD OF ASSESSMENT IN SAID DISTRICT; PROVIDING THAT PAYMENT FOR SAID IMPROVEMENT BE MADE IN PARTBYSPECIAL ASSESSMENTS UPON PROPERTY IN SAID DISTRICT,PAYABLEBY THE MODE OF "PAYMENT BY BONDS";AND PROVIDING FOR THE ISSUANCE AND SALE OF LOCAL IMPROVEMENT DISTRICT WARRANTS REDEEMABLEIN CASH AND LOCAL IMPROVEMENT DISTRICT BONDS WHEREAS,by Resolution No.326,adopted April 28,1964,the City Council of the City of Moses Lake declared its intention to improve West Broadway, pursuant to contract with the Washington State Highway Commission,Depart- ment of Highways,by grading,graveling,constructing and installing storm drainage,curbs,sidewalks and asphalt concrete pavement and fixed the 2C6 dHaa 1 in haeLC11964 at 00La'c ocWas inn thne Casuncil Cmheamberpsl e for hearing all matters relating to said proposed improvement and all objections thereto and for determining the method of payment for said improvement;and WHEREAS,J.Garth Anderson,Public Works Director and City Engineer,has caused an estimate to be made of the costs and expenses of each continuous unit of the proposed improvement and has certified said estimate to the City Council,together with all papers and information in his possession touching the proposed improvement,a description of the boundaries of the District, a statement of what portion of the cost and expense of the improvement should be borne by the property within the proposed district,and a statement in detail of the local improvement assessments outstanding or unpaid against the property in the proposed district,and a statement of the aggregate actual valuation of the real estate,including 25%of the actual valuation of the improvements in the proposed district,according to the valuation last placed upon it for the purpose of general taxation;and Ordinance No.512 (Continued) WHEREAS,said estimate is accompanied by a diagram of the proposed improvement showing thereon the lots,tracts,parcels of land,and other property which will be specially benefited by each continuous unit of the proposed improvement,and the estimated amount of the cost and expense thereof to be borne by each lot,tract,and parcel of land or other property;and WHEREAS,due notice of the hearing upon said Resolution No.326 was given in the manner provided by law and said hearing was held by the City Council on May 26,1964,and all written protests filed with the City Council on or before said date were duly considered and all persons appearing at said hearing were heard;and WHEREAS the City Council has determined it to be in the best interests of the City that the said improvements,as hereinafter described,be carried out and that a local improvement district be created in connection herewith,NOW,THEREFORE THE CITY COUNCIL OF THE CITY OF MOSES LAKE,WASHINGTON DO ORDAIN AS FOLLOWS: Section 1.The following improvements within the City of Moses Lake, Washington,are hereby ordered: The improvement of West Broadway from Holly Street to Lee Street by grading,graveling,constructing and installing storm drainage,curbs,sidewalks and asphalt concrete pavement,all of the foregoing being one continuous unit of the proposed improvement. All of the foregoing shall be in accordance with the plans and specifications therefor prepared by Washington State Highway Commission,Department of Highways . Ordinance No.512 (Continued) Section 2 .There is hereby created and established a local improvement district to be called "Local Improvement District No.19 of the City of Moses Lake,Washington",which District is described-es follows and contains the folloewint;areays n the southeasterly side lying within 200 feet of the centerline of West Broadway from West Third Avenue to a line which is at a right angle to the centerline of West Broadway and opposite the northeasterly right-of-way line of Lee Street;and all of that property on the northwesterly side lying within 220 feet of the centerline of West Broadway from West Marina Drive to the alley between West Third Avenue and West Marina Drive;and all of the property on the northwesterly side lying within 200 feet of the centerline of West Broadway from the alley between West Third Avenue and Marina Drive to Lee Street. Section 3.The estimated cost and expense of this continuous unit of said improvement is.hereby declared to be as follows: $259,427.93 The cost and expense of the grading,graveling,storm drainage,curbs and asphalt concrete pavement shall be borne ly the Washington State Highway Commission,Department of Highways.The amount of $21,838.26 will be borne by the City of Moses Lake and $15,258.84 shall be borne by and.assessed against the property specially benefited by such improvement; Section 4.The nature of the improvement provided for herein is such that i the special benefits conferred upon the property in the local improvement district herein created are fairly reflected by the use of zone-and-termini method of assessment therefor and it is hereby provided and ordered that the assessment shall be made against the property of the District in accordance with the zone-and- termini method provided by statute , Órdinance No.512 (Continued) Section 5.Local Improvement District warrants shall be issued in payment of that portion of the cost and expense of the improvement herein ordered to be assessed,such warrants to be payable out of the "Local Improvement tneith r orkat ratle >hbereina terecrreated,toorbear interest froemx d 6% per annum and to be redeemed in cash,and/or by local improvement district bonds therein authorized to be iss.ued,said interest bearing warrants to be hereafter referred to as "revenue warrants".Such bonds shall bear interest at a rate to be hereafter fixed by ordinance not exceeding 6%per annum,shall be payable ,on or before twelve (12)years from the date of issuance,the life of the improvement ordered being not less than twelve years,and shall be issued in exchange for and in redemption of any and all revenue warrante issued hereunder and not redeemed incash within a period not to exceed 60 days after the first publication by the City Treasumr nher hean fohrecasseectisment roell fo dL ahallmbperoreednedDbyMtrict collection of special assessment to be levied and assessed upon the property within said District,payable in ten (10)equal annual installments with interest at a rate to be hereafter fixed by ordinance not exceeding 6%per annum under the mode of "payment by bonds,"as defined by law and the ordinances of the City of Moses Lake.In the case of default in the payment of any assessment when the same shall become due,there shall be added interest at a rate to be hereafter fixed by ordinance not to exceed 6%per annum and a penalty of 6%which shall also be collected.The exact form,amount,date,interest rate and denominations of said warrants and bonds shad11be her ltebre oedd uch mnacnenersethCe Ci yæCncuncil alwarrants hereafter determine. Section 6.All the work necessary to be done in connection with the making of said improvement shall be done by and made by contract upon competitive bids and the City shall have and reserve the right to reject any and all bids .The call for bids for work aut horized pursuant to this Ordinance shall include a statement that payment for said work will be Ordinance No.512 (Continued) made in cash warrants drawn upon the "Local Improvement Fund, District No.19". Section 7.There is hereby created and established in the office of the CN 19reaa srpeero 1 nCityo be Moses Ladkedes gnLatceadaImprovement District Fund,District No.19",into which fund shall be deposited the proceeds from the sale of revenue warrants drawn against said fund which may be issued and sold by the City and collections pertaining to assessments, monies to be contributed by the City and from any other source,and against which fund shall be issued cash warrants to the contractor or contractors in payment for the work to be done by them in connection with said im- provement and against which fund cash warrants shall be issued in payment of all other items of expense in connection with said improvement. PASSED by the City Council and APPROVED by the Mayor of the City of Moses Lake,Washington,at a regular meeting thereof,this 9th day of June,1964. ATTEST: May Ci APPROVED AS TO FORM: ty Attorney