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835_00001ORDINANCE NO._(fi i AN ORDINANCE ORDERING THE IMPROVEMENT OF MARINA DRIVE BY CONSTRUCTION AWD INSTALLING SEWER MAINS CONNECTING TO EXISTING FACILITIES ON GISBY ROAD AND ON MARINA DRIVE,IN ACCORDANCEWITH RESOLUTION 810 OF THE CITY COUNCIL OF THE CITY OF MOSES LAKE,WASHINGTON;ESTABLISHING LOCAL IMPROVE- MENT DISTRICT NO.37;PROVIDING THE METROD OF ASSESSMENT IN SAID DISTRICT;PROVIDING TRAT PAYMENT FOR SAID IMPROVE- MENT BE MADE BY SPECIAL ASSESSMENTS UPON PROPERTY IN SAID DISTRICT PAYABLE BY THE MODE OF "PAYMENT OF BONDS";ANR PROVIDING FOR THE ISSUANCE AND SALE OF LOCAL IMPROVEMENT DISTRICT WARRANTS REDEEMABLE IN CASH AND LOCAL IMPROVEME1AT DISTRICT BONDS. WHEREAS,by Resolution No.810,adopted March 8,1977,the City Council of the City of Moses Lake,Washington declared its intention to improve Marina Drive by construction and installation of water mains,sewer maine,and fire hydrants,and fixed the 12th day of April,1977,at 8:00 o'clock p.m.,in the Council Chambers in the City Hall,Moses Lake,Washington,as the time and place for hearing all matters relating to said improvement and all objections thereto and for determining the method for payment of said improvement;and WHEREAS,the City Engineer's Office.has caused an estimate to be made of the costs and expense of each continuous unit of the proposed improvement and has certified said estimate to the City Council,together with all papers and information in itsIpossessiontouchingtheproposedimprovement,a description of the boundaries 17E . 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,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 generg1 taxation;and WHERRAS,said estimate is accompanied by a diagram of the proposed improvement show- .ing thereon the lots,tracts,parcels of land,and other property which will be specifically 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 andparceloflandworotherproperty;and WHEREAS,due notice of the hearing on Resolution No.810 was given in the mannerprovidedbylawandsaidhearingwasheldbytheCityCouncilonApril12,1977, and all written protests filed with the City Council on or before said dates weredulyconsidered;and WHEREAS,it has been further determined to be in the best interests of the City that the said improvement,as hereinafter described,be carried out and that a localimprovementdistrictbecreatedinconnectiontherewith,NOW THEßEFORE, i THE CITY COUNCIL OF THE CITY OF MOSES LAKE,WASHINGTONr DO ORDAIN AS FOLipWB: Section 1.It is hereby ordered that the improvement of the following described -street in the city of Moses Lake,Washington,and the construction,be carried out, to wit: By.installing sewer mains with manholes on Marina Drive from Gibby Road to point onMarinaDriveoppositetheSWcorneroftheNE%of the NE4 of Section 28,Tl9N,R28EWMand lAlloftheforegoingshallbeinaccordancewiththeplansandspecificationstherefopreparedbytheCityEngineer's Office. Section 2.The estimated cost and expense of said improvement is hereby declared tobe$39,080.57. The entire cost and expense of said improvement shall be borne by and assessed againstthepropertyspeciallybenefitedbysuchimprovementtobeincludedinthelocalimprovementdistrictbereinafterestablishedembracing,as near.as may be,all proper-ties specially benefited by such improvement. Section 3.There is hereby created and established a local improvement districttobeknownas"Local Improvement District No.37",which District is described asfollowsandincludesthefollowingdescribedproperties: All the property on the West side of Marina Dribe between Gibby Road and the SWcorneroftheNEéoftheNE¾of Section 28r Township 19N,R28 EWM and the shore-line of Moses Lake;plus all of Lots 79 through 83 of Bennett Addition;plus alltheunplattedpropertyontheEastsideofMarinaDrivebetweenGibbyRoadand thesaidSWcorneroftheNE4oftheNE¾of Section 28,Township 19N,R28 EWM andBennettAddition. Section 4.The nature of the improvement provided for herein is such that the specialbenefitsconferreduponthepropertyinthelocalimprovementdistricthereincreatedarefairlyreflectedbytheuseofzone-and-termini method of assessment therefore anitisherebyprovidedandorderedthatassessmentsshallbemadeagainstthepropertyoftheDistrict-in accordance with the zone-and-termini method provided by statute. Section 5.Local improvement district warrants shall be issued in payment of the costandexpenseoftheimprovementhereinordered,such warrants to be payable out of the"Local Improvement Fund,District No.37",hereinafter created,to bear interest fromthedatethereofataratetobehereafterfixedbyordinance,not to exceed 9%perannum,and to be redeemed in cash,and/or by local improvement district bonds hereinauthorizedtobeissued.Such bonds shall bear interest at a rate to be hereafter ,fixed by ordinance,not to exceed 9%per annum,shall be payable on or before twelve(12)years from the date of issuance,and shall be issued in exchange for and inredemptionofanyandallwarrantsissuedhereunderandnotredeemedincashwithin aperiodnottoexceedsixty(60)days after the first publication by the City Treasurerofnoticethattheassessmentrollfor"Local Improvement District No.37"is in hishandsforcollection.The bonds 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 byordinance,not exceeding 9%per annum,under the mode of "paymentby bonds",asdefinedbylawandtheordinancesofthecityofMosesLake.In the case of defaultinthepaymentofanyassessmentwhenthesameshallbecomedue,there shall headdedinterestataratetobehereafterfixedbyordinance,not to exceed 9%perannum,and a penalty of 9%which shall also be collected.The exact amount,formtdate,interest rate,and denominations of said warrants and bonds shall he hereafterfixedbyordinanceoftheCityCouncil.Said warrants and bonds shall be sold insuchmannerasthecityCouncilshallhereafterdetermine. Section 6.All the work necessary to be done in connection with the making ^of said-improvment shall be done by and made by contract upon competitive bids and the cityshallhaveandreservestherighttorejectanyandallbids.The call for bids forworkauthorizedpursuanttotheordinanceshallincludeastatementthatpaymentforsaidworkwillbemadeincashwarrantsdrawnupon"Local Improvement Fund DistrictNo.37"of Local Improvement District No.37 of the City of Moses Lake,Washington. Section 7.There is created and established in the office of the City Treasurer oftheCityofMosesLake,for Local Improvement District No.37,a special fund to beknownanddesignatedasLocalImprovementFundDistrictNo.37: (a)"Local Improvement -Fund,District No.37"into which fund shall be deposited all .Payments made upon assessments in said District for the redemption of the warrantsandbondshereinauthorized;and (b)Into which fund shall be deposited the principal amount plus accrued interestreceivedfromthesaleoflocalimprovementdistrictrevenuewarrantsoftheDistricthereinauthorized,to be issued and sold and collections pertaining to assessmentandagainstwhichfundcashwarrantsshallbeissuedtothecontractororcontractorsinpaymentoftheworktobedonebytheminconnectionwithsaidimprovementandagainstwhichfundcashwarrantsshallbeissuedinpaymentofallotheritemsofexpenseinconnectionwithsaidimprovement. PASED by the City Council and APPROVED by the Ma r this 26th day of April ,1977. M a yorATTEST: .City Clark títy Attorney I