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605_00001ORDINANCE No.605 AN ORDINANCE ORDERING THE IMPROVEMENT OF THE THREE HUNDRED AND FOUR HUNDRED BLOCKS OF NORTHSHORE DRIVE,BY CONSTRUCTING AND INSTALL- ING STORM DRAINAGE,SIDE LATERAL SEWER CONNEC- TIONS,ASPHALT CONCRETE PAVEMENT,AND CURBS, ALL IN ACCORDANCE WITH RESOLUTION NO.501 OF THE CITY COUNCIL OF THE CITY OF MOSES LAKE, WASHINGTON;ESTABLISHING LOCAL IMPROVEMENT DISTRICT NO.25;PROVIDING THAT PAYMENT FOR I SAID IMPROVEMENT BE MADE BY SPECIAL ASSESSMENT UPON PROPERTYIN SAID DISTRICT PAYABLE BY THE MODE OP "PAYMENT BY BONDS OR NOTE:"AND PRO- VIDING FOR THE ISSUANCE AND SALE OF LOCAL IMPROVEMENT DISTRICT WARRANTSREDEEMABLE IN CASH AND LOCAL IMPROVEMENT DISTRICT BONDS OR NOTES. WHEREAS,by Resolution No.501 adopted November 25,1969,the City of Moses Lake declared its intention to improve the Northshore Drive three and four hundred blocks by constructing and installing storm drainage,side lateral sewer connections,asphalt concrete pavement and curbs and to create a local improvement district to assess the cost and of said improvement against the properties in such district specially benefited thereby,and notified all persons who may desire to object to said improvements to appear and present their objections at a meeting of the City Council to be held on the 23rd day of i December,1969,at 8 o'clock PM in the Council Chambers at the City Hall in the City of Moses Lake,Washington,and WHEREAS,W.R.Baker,Assistant City Engineer of the City of Moses Lake,has caused an estimate to be made of the costs and expenses of the proposed improvement and has certified said estimate to the City Council together with all papers and information in his poses- sion 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 with- in 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 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 the proposed improvement,and the estimated amount of the cost and expense thereof Ctdinance No.605:2 to be borne by each lot,tract,and parcel of land or other property; and WHEREAS,due notice of the hesing upon said Resolution No.501 was given in the manner provided by law and said hearing was held by theiCityCouncilDecember23,1969,and all written protests filed with the City Council on or before said date were duly considered and all persons appeared at said hearing were heard;and WHEREAS,the City Council has determined it to be in the best in- terest of the City that the said improvements,as hereinafter described,he 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.It is hereby ordered that Northshore Dríve three hundred and four hundred blocks be improved by constructing and installing storm drainage,side lateral sewer connections, asphalt concrete pavement,and curbs all in accordance with the plans and specifications therefor prepared by the Assistant City Engineer. Section 2.There is hereby created and established a local improvement district to be called "Local Improvement District No.25 of the City of Moses Lake,Washington"which district is described as follows and contains the following areas: The Westerly 86'of the Northerly 140'of Lot 1,Knolls Vista Eighth Addition.The Northerly 140'of Lots 2 through 9 of Knolls Vista Eighth Addition. The Northerly 140'of Lots 1,2 and 3,Knolls Vista Nineteenth Addition. The Southerly 90'of Lot 23,Knolls Vista Addition SA. All of Lots 13,20,21 and 22 of Knolls Vista l Addition 5A. All of Lots 14 through 19,Knolls Vista Fifth Addition. All of Lot 1,Knolls Vista Ninth Addition. Ordinance No .605:3 section 3.The total estimated cost and expense of said improvement is hereby declared to be Fifteen Thousand,Five Hundred Thirty-One and no/100 Dollars ($15,531.00). Section 4.The total cost and expense shall be borne i by and assessed against the property specially benefited by the improvement to be included in the local improvement district here- in established. Section 5 .The nature of the improvement provided for herein is such that the special benefits conferred upon the propa erty in the local improvement district herein created are fairly reflected by the zone method of assessment therefor it is hereby provided and ordered that the assessments shall be made against the property of the district in accordance with the zone method provided by statute. Section 6.Local Improvement District warrants shall be issued in payment of that portion of the cost andiexpense of the improvement herein ordered to be assessed,such warrants to be payable out of the "Local Improvement Fund,District No.25"here- i inafter created,to bear interest from the date thereof at a rate to be hereafter fixed by ordinance not to exceed 8%per annum and to be redeemed in cash,and/or by local improvement district bonds or note therein authorized to be issued,said interest-bearing warrants to be hereafter referred to as "revenue warrants ."Such bonds or note shall bear interest at a rate to be herafter fixed by ordinance not exceeding 8%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 warrants issued hereunder and not redeemed in cash within a period not to exceed 60 days after the first publication by the City Treasurer of notice that the assessment roll for Local Improvement District No.25 is in his hands for collection.The bonds or note i shall he redeemed by the collection of special assessments to be levied and assessed upon the property within said District,payable in ten (10)equal annual installments ,with interst at a rate to be hereaf ter fixed by ordinance not exceeding 8%per annum,under the mode of "payment by bonds or note,"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 Ordinance No.605:4 shall be added interest at a rate to be hereafter fixed by ordinance not to exceed 8%per annum and a penalty of 5%which shall also be collected.The exact form,amount,date,interest rate and denominations of said warrants and bonds or note shall be here- after fixed by ordinance of the City Council.Said warrants and i bonds or note shall be sold in such manner as the City Council shall hereafter determine . Section 7.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 authorized pursuant to the Ordinance shall in- clude a statement that payment for said work will be made in cash warrants drawn upon the "Local Improvement Fund,District No.25." Section 8.There is hereby created and established in the office of the City Treasurer of the City of Moses Lake,for Local Improvement District No.25,a special fund to be known and designated as "Local Improvement Fund,District No.25,"intoIwhichfundshallbedepositedtheproceedsfromthesaleofrevenue warrants drawn against said fund which may be issued and sold by the City and collections pertaining to assessments,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 improvement and against which fund cash warrants shall be issued in payment of all other items of expense in connection with said improvement . Section 9.A public hearing has been held regarding the improvement of this street,Therefore,the provisions of Section 17,Ordinance No.474,are hereby waived.This ordinance shall be read only once before its passage and shall take effect immediately after passage and publication. I Ordinance No.605:5 PASSED by the City Council and APPROVED by its Mayor this 23rd day of December,1969. MA YOR ,Otto M .Skaugi ATTEST: /'City Cle Chq¢fes Davenport APPROVED AS TO FORM: Ci torney,John E.Calbom I i