647_00001AN ORDINANCE ORDERING THE I;i RO'7EMENT OF THEAREAONKNOLLSVISTADRIVEFROMRIDGERQADTOPINESTREET
BY GRADING,GRAVELING .CONSTRUCTING AND INSTALLING STORM DRAINAGE,CORBS,SIDEWALKS,AND ASPHALT CONCRETE PAVEMENTALLINACCORDANCEWITHRESQLUTIOMNO.574 OFTHECITYCOUNCILOFTHECITYOFMOSESLAKE,WASHINGTON:ESTABLISHING LOCAL IMPROVEMENT DIS-TRICT NO.27:PROVIDING THAT FAYMENT FOR SAIDIMPROVENSNTBEMADEBYSPECIALASSESSMENTUPONiPROPERTYINSAIDDISTRICTPAYABLEBYTHEMODEOF"PAYMSNT BY BONDS OR NOTE":AND PROVIDING FORTHEISStJANCEANDSALEOFLOCALIMPROVEMENTDIS-TRICT WARRANTSREDEEMABLE IN CASH AND LOCAL IM-PROVEMENT DISTRICT BONDS OR NOTES.
WHEREAs,by Resolution No.574 adopted June 27,1972,the City ofMosesLakedeclareditsintentiontoimprovetheareaonKnollsVistaDrivefromRidgeRoadtoPineStreetbygrading,graveling,constructing and installing storm drainage,curbs,sidewalks,and asphalt concrete pavement and to create a local improvementdistricttoassessthecost.and expense o£said improvementsagainstpropertiesinsuchdistrictespeciallybenefited therebyandnotifiedallpersonswhomaydesiretoobjecttosaidimprove-ments to appear and present their objections at a meeting of theCityCounciltobeheldonthe26thdayofÎuly,1972,at 8:00P.M.in the Council Chambers at the City Hall in the City ofNosesLake,Washington and
WHEREAS,Richard L.Weaver,Publie Works Director of the cityofMosesLake,has caused an estimate.to be mado of the costsandexpensesoftheproposedimprovementandhascertifiedsaidestimatetotheCityCounciltogetherwithallpapersandinformationinhisposessiontouchingtheproposedimprovement.
A description of the boundaries of the distriet,a statement cfwhatportionofthecostandexpenseoftheimprovementshouldbe.borne by the property within the proposed district,and astatementindetailofthelocalimprovementassessmentsout-standing or unpaid against the property in the proposed district,and a statement of the aggregate actual valuation of the realestate,including 25¾of the actual valuation of the improve-ments in the proposed distriet,according to the valuation lastplaceduponitforthepurposeofgeneraltaxation;andiWHEREAS,said estimate is accompanied by a diagram of theproposedimprovementshowingthereonthelots,tracts,par-cels of land,and other property which will be speciallybenefitedbytheproposedimprovement,and the estimatedamountofthecostandexpensethereoftobeborneby eachlot,tract,and parcel of land or other property;and
WHEREAS,due notice of the hearing upon said Resolution No.574 was given in the manner provided by law and said hearing
was held by the City Council fuly 25 ,1972,and all writtenprotestsfiledwiththeCityCouncilonorbeforesaiddate
were duly considered and all persons appeared at said hearing
were heard;and
WHEREAS,the City Council has determined it to be in thebestinterestofthecitythatthesaidimprovements,ashereinafterdescribed,be carried out and that a localimprovementdistrictbecreatedinconnectionherewith,NOW,THEREFORE,THE CITY COUNCIL OF THE CITY OF MOSES LAKE,
WASHINGTON,DO ORDAIN AS FOLLOWS:
Section 1.It is hereby ordered that area onKnollsVistaDrivefromRidgeRoadtoPinestreetbeimprovedbygrading,graveling,constructing and installingstormdrainage,curbs,sidewalks,and asphalt concrete pave-ment all in accordance with the plans and specifications thereforpreparedbytheAssistantCityEngineer.
S.eg..t.g...on...2..There is hereby created and eptablished
a local improvement district to be called "Local ImprovementiDistrictNo.27 of the City of Moses Lake,Washington"whichdistrictisdescribedasfollowsandcontainsthefollowing
Knolls Vista Drive from Ridge Road toPineStreet,
$ection 3,The total estimated cost and .expenseofsaidimprovementisherebydeclaredtobeTwentYThreeThousandThreeHundredNirietySevenDollars(823,397.00).
MM.The total cost and expense shall be
borne by and assessed against the propedy specially benefited
by the improvement to be included in the local improvement
district herein established.
Section 5.The nature of the improvement provided
for herein is such that the special benefits conferred upon
the ptúperty in the local improvement district herein created
are fairly reflected by the zone method of assessment,there-
for it is hereby provided and ordered that the assessments
shall be made against the property of the district in accor-
dance with the zone method provided by statute.
Section 6.Local Improvement District warrants
shall he 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
Fund.District No.27"hereinafter created,to bear interest
from the date thereof at a rate to be.hereafter fixed by
ordinance not to exceed 8¾per 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 bonde or note shall bear interest at a rate to be
hereafter fixed by ordinance not exceeding 8¾per annum,
shall be payable on or be£ore 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 Improve-
ment District No.27 is in his hands for collection.The bonds
or note shall be redeemed by the collection of special assess-
ments 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 8¾per anñum,under the mode of "payment by bonds or
note,"as defined by law and the ordînances of the City of
Moses Lake.In the case of default in the payment of any assess-
ment when the same shall become due,there shall be added in-
terest at a rate to be hereafter fixed by ordinance not to
exceed 8¾per annum and a penalty of 5¾which 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 bonds or note shall he sold in such manner as the city
Council shall hereafter determine.
Section 7.All the work necessary to be done in
onnection with the making of saîd improvement shall be done
by arrimedebyeontract 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¢1ade a statement that payment for said work will be
made in cash warrants drawn upon the "Local Improvement Fund,
District No.27."
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.27.a special fund to be
known and designated as "Local Improvement Fund,District No.
27".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,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 pay-
ment of all other items of expense irÞ connection with said
improvement.
Section 9.A public hearing has been held regarding
the improuement of this street.Therefore,the provisions of
Section 17,Ordinance No.474,are hereby waived.Thía
ordinance shall be read only once before its passage and shall
take effect immediately after passage and publication.
PASSED by the City Council and APPROVED by its Mayor
this 25th day of July .
APPROVED As To FORM