928_00001ORDINANCENO.928
ANORDINANCEORDERINGTHE IMPROVEMENTIN THE PENNSTREETAREAONFIGSTREETBETWEENWHEELERROADANDFIFTHAVENUEANDONFIFTHAVENUEBETWEENFIGSTREETANDELDERSTREETBYGRADING,
BRAVELING,CONSTRUCTING,ANDINSTALLINGSTORMDRAINAGE,CURBS,SIDEWALKS,ANDASPHALTCONCRETEPAVEMENTIN ACCORDANCEWITHRESOLUTION927OFTHECITYCDUNCILOFTHECITYOFMOSESLAKE,WASHINGTON;ESTABLISHINGLOCALIMPROVEMENTDISTRICTNO.44;I PROVIDINGTHE METHODOF ASSESSMENTIN SAID DISTRICT PAYABLEBYMODEOF"PAYMENTBYBONDS";ANDPROVIDINGFORTHE ISSUANCEFORSALEOFLDCALIMPROVEMENTDISTRICTWARRANTSREDEEMABLEINCASHANDLOCALIMPROVEMENTDISTRICTBONDS.
WHEREAS,by Resolution No.927 adopted April 10,1979 the City Council of the CityofMosesLake,Washington,declared its intention to improve the Penn Street Area
on Fig Street between Wheeler Road and Fifth Avenue and on Fifth Avenue betweenFigStreetandElderStreetbygrading,graveling,constructing and installing
storm drainage,curbs,sidewalks,and asphalt concrete pavement in the councilChambersinthePolice/Justice Court,Moses Lake,Washington,as the time andplaceforhearingallmattersrelatingtosaidimprovementandallobjectionstheretoandfordeterminingthemethodofpaymentofsaidimprovement;and
WHEREAS,the City Engineer's Office has caused an estimate to be made of the costsandexpenseofeachcontinuousunitoftheproposedimprovementandhascertifiedsaidestimatetotheCityCouncil,together with all papers and information in itspossessiontouchingtheproposedimprovement,a description of the boundaries oftheDistrict,a statement of what portion of the cost and expense of the improvementshouldbebornebythepropertywithintheproposedDistrict,a statement indetailofthelocalimprovementassessmentsoutstandingorunpaidagainstthepropertyintheproposedDistrictandastatementoftheaggregateactualvaluationoftherealestate,including 25%of the actual valuation of the improvements intheproposedDistrict,according to the valuation last placed upon it for theipurposeofgeneraltaxation;and
WHEREAS,said estimate is accompanied by a diagram of the proposed improvementshowingthereonthelots,tracts,parcels of land,and other property which willbespecificallybenefitedbyeachcontinuousunitoftheproposedimprovement,andtheestimatedamountofthecostandexpensethereoftobebornebyeachlot,tract and parcel of land or other property;and
WHEREAS,due notice of the hearing on Resolution No.44 was given in the mannerprovidedbylawandsaidhearingwasheldbytheCityCouncilonMay8,1979 andallwrittenprotestsfiledwiththeCityCouncilonorbeforesaiddatesweredulyconsidered;and
WHEREAS,it has been further determined to be in the best interests of the Citythatthesaidimprovement,as hereinafter described,be carried out and that alocalimprovementdistrictbecreatedinconnectiontherewith,NOWTHEREFORE,
THE CITY COUNCILOF THE CITY OF MOSESLAKE,WASHINGTON,DOORDAINAS FOLLOWS:
Section 1.It is hereby ordered that the improvement in the Cit.y of Moses Lake,Washington,and the construction,be carried out,to wit:
The Penn Street Area on Fig Street between Wheeler Road and FifthiAvenueandonFifthAvenuebetweenFigStreetandElderStreetbygrading,graveling,constructing and installing storm drainage,curbs,sidewalks,and asphait concrete pavement.
All of the foregoing shall be in accordance with the plans and specificationsthereforepreparedbytheCityEngineer's office.
Section 2.The estimated cost and expense of said improvement is hereby declaredtobe$73,088.
The entire cost and expense of said improvement shall be borne by and assessedagainstthepropertyspeciallybenefitedbysuchimprovementtobeincludedin thelocalimprovementdistricthereinafterestablishedembracing,as near as may be,all properties specially benefited by such improvement.
Section 3.There is hereby created and established a local improvement district tobeknownas"Local Improvement District No.44",which District is described asfollowsandincludesthefollowingdescribedproperties:
The Penn Street Area on Fig Street between Wheeler Road and Fifth
Avenue and on Fifth Avenue between Fig Street and Elder Street bygrading,graveling,constructing,and installing storm drainage,curbs,sidewalks,and asphalt concrete pavement.
Section 4.The nature of the improvement provided by herein is such that thespecialbenefitsconferreduponthepropertyinthelocalimprovementdistritthereincreatedarefairlyreflectedbytheuseofzone-and-termini method ofassessmentthereforeanditisherebyprovidedandorderedthattheassessmentsshallbemadeagainstthepropertyoftheDistrictinaccordancewiththezone-and-termini method provided by statute.
Section 5.Local Improvement District warrants shall be issued in payment of thecostandexpenseoftheimprovementhereinordered,such warrants to be payable
out of the "Local Improvement Fund,District No.44"hereinafter created,to bearinterestfromthedatethereofataratetobehereafterfixedbyordinance,not
to exceed 9%per annum,and to be redeemed in cash,and/or by local improvementdistrictbondshereinauthorizedtobeissued.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 years from the date of issuance,and shall be issuedinexchangeforandinredemptionofanyandallwarrantsissuedhereunderandnotredeemedincashwithinaperiodnottoexceedsixtydaysafterthefirstpublicationbytheCityTreasurerofnoticethattheassessmentrollfor"Local ImprovementDistrictNo.44"is in his hands for collection.The bonds shall be redeemed bythecollectionofspecialassessmentstobeleviedandassesseduponthepropertywithinsaidDistrict,payable in ten equal annual installments,with interest at aratetobehereafterfixedbyordinance,not exceeding 9%per annum,under themodeof"paymentbybonds,"as defined by law and the ordinances of the City ofMosesLake.In the case of default in the payment of any assessrent when the sameshallbecomedue,there shall be added interest at a rate to be hereafter fixed by
ordinance,not to exceed 9%per annum,and a penalty of 9%Which shall also becollected.The exact amount,form,date,interest rate,and denominations of saidwarrantsandbondsshallbehereafterfixedbyordinanceoftheCityCouncil.
Said warrants and bonds shall be sold in such manner as the City Council shall
hereafter determine.
Section 6.All the work necessary to be done in connection with the making ofsaidimprovementshallbedonebyandmadebycontractuponcompetitivebidsandtheCityshallhaveandreservestherighttorejectanyandallbids.The call
for bids.for work authorized pursuant to the Ordinance shall include a statementthatpaymentforsaidworkwillbemadeincashwarrantsdrawnupon"Local Improve-
ment Fund District No.44"of Local Improvement District No.44 of the City of
Moses Lake,Washington."
Section 7.There is created and established in the Office of the City Treasurer
of the Cit.y of Moses Lake,for Local Improvement District No.44 a special fund to
be known and designated as Local Improvement Fund District No.44 into which fund
of local improvement district revenue warrants of the District herein authorized,
to be issued and sold and collections pertaining to assessment and against which,
fund cash warrants shall be issued with said improvement and against which fund.
cash warrants shell be issued in payment of all other items.of expense in connection
with said improvement.
PASSEDby the City Council of the City of e,Washington,and APPROVEDby
the Mayor this I2th d of jun ,79.
MA Y 0 R
Publish:6/19/79