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931_00001ORDINANCENO.931 ANORDINANCEORDERINGTHE IMPROVEMENTOF COOLIDGEORIVEFROMPLUMSTREETTOTERRACEAVENUEANDPLUMSTREETFROMCOOLIDGEDRIVETOIRONWOODSTREETBYGRADING,GRAVELING,CONSTRUCTINGANDINSTALL-ING CURBS,SIDEWALKS,SEWERSIDE LATERALS,ASPHALTCONCRETE PAVEMENTANDSTORMDRAINAGEIN ACCORDANCEWITHRESOLUTION#932OFTHECITYCOUNCILOFTHECITYOFMOSESLAKE,WASHINGTON;ESTABLISHINGLDCALIMPROVEMENTDISTRICT NO.45;PROVIDINGTHEMETHODOFASSESSMENTINSAIDDISTRICT;PROVIDINGTHATPAYMENTFORSAID I IMPROVEMENTBE MADEBYSPECIALASSESSMENTSUPONPROPERTYIN SAIDDISTRICTPAYABLEBYMODEOF"PAYMENTBY BONDS";ANDPROVIDINGFORTHEISSUANCEFORSALEOFLOCALIMPROVEMENTDISTRICTWARRANTSREDEEMABLEINCASHANDLOCALIMPROVEMENTDISTRICTBONDS. WHEREAS,by Resolution No.932,adopted May .8,1979,by the City Council of theCit.y of Moses Lake,Washington,declared its intention to improve Coolidge Drive fromPlumStreettoTerraceAvenueandPlumStreetfromCoolidgeDrivetoIronwoodStreetbygrading,graveling,constructing and installing curbs,sidewalks,sewer sidelaterals,asphalt concrete pavement and storm drainage,and fixed the 12th day ofJune,1979,at 8:00 o'clock p.m.,in the Council Chambers in the Police/JusticeCourt,Moses Lake,Washington,as the time and place for hearing all matters relatingtosaidimprovementandallobjectionstheretoandfordeterminingthemethodofpaymentofsaidimprovement;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 of theDistrict,a statement of what portion of the cost and expense of the improvementshouldbebornebythepropertywithintheproposedDistrict,a statement in detailofthelocalimprovementassessmentsoutstandingorunpaidagainstthepropertyintheproposedDistrictandastatementoftheaggregateactualvaluationoftherealestate,including 25%of the actual valuation of the improvements in the proposedDistrict,according to the valuation last placed upon it for the purpose of generalitaxation;and WHEREAS,said estimate is accompanied by a diagram of the proposed improvementshowingthereonthelots,tracts,parcels of land,and other property which will bespecificallybenefitedbyeachcontinuousunitoftheproposedimprovement,and theestimatedamountofthecostandexpensethereoftobeborneby.each lot,tract andparceloflandorotherproperty;and i WHEREAS,due notice of the hearing on Resolution No.932 was given in the mannerprovidedb.y law and said hearing was held by the City Council on June 12,1979,andallwrittenprotestsfiledwiththeCityCouncilonorbeforesaiddatesweredulyconsidered;and WHEREAS,it has been further detennined to be in the best interests of the City thatthesaidimprovement,as hereinafter described,be carried out and that a localimprovementdistrictbecreatedinconnectiontherewith,NOWTHEREFORE, THE CITY COUNCILOF THE CITY OF MOSESLAKE,WASHINGTON,DO ORDAINAS FOLLOWS: Section 1.It is hereby ordered that the improvement in the City of Moses Lake,Washington,and the construction,be carried out,to wit: By grading,graveling,constructing and installing curbs,sidewalks,I sewer side laterals,asphalt concrete pavement,and storm drainageonCoolidgeDrivefromPlumStreettoTerraceAvenueandPlumStreetfromCoolidgeDrivetoIronwoodStreet. All of the foregoing shall be in accordance with the plans and specifications thereforepreparedbytheCit.y Engineer's office. Section 2.The estimated cost and expense of said improvement is hereby declared tobe$86,184.00. The entire cost and expense of said improvement shall be borne by and assessedagainstthepropertyspeciallybenefitedbysuchimprovementtobeincludedin thelocalimprovementdistricthereinafterestablishedembracing,as near as may be,allpropertiesspeciallybenefitedbysuchimprovement. Section 3.There is hereby created and established a local improvement district to beknownas"Local Improvement District No.45",which District is described as followsandincludesthefollowingdescribedproperties: Beginning at the intersection of Ironwood Drive and Plum StreetwhichistheTruePointofBeginning,thence North 53°04'30N West 150.00 feet,thence North 36°55'30"East 30.00 feet,thenceNorth53°04'30"West 422.43 feet,thence North 36°55'30"East559.53 feet,thence North 00°12'00"West 117.55 feet,thenceSouth89°48'00"West 60.00 feet,thence South 60°12'00"East 97.93 feet,thence South 36°55'30"West 599.05 feet,thence South53°04'30"East 632.43 feet,thence North 36°55'30"East 30.00feet,to the True Point of Beginning. Section 4.The nature of the improvement provided by herein is such that the specialbenefitsconferreduponthepropertyinthelocalimprovementdistricthereincreated are fairly reflected by the use of zone-and-termini method of assessment thereforeanditisherebyprovidedandorderedthattheassessmentsshallbemadeagainstthepropertyoftheDistrictinaccordancewiththezone-and-termini method provided by statute. Section 5.Local Improvement District warrants shall be issued in payment of thecostandexpenseoftheimprovementhereinordered,such warrants to be payable outofthe"Local Improvement Fund,District No.45"hereinafter created,to bear interest from the date thereof at a rate to be hereafter fixed by ordinance,not to exceed 9% per annum,and to be redeemed in cash,and/or by local improvement district bondshereinauthorizedtobeissued.Such bonds shall bear interest at a rate to be hereafter fixed by ordinance,not to exceed 9%per annum,shall be payable on orbeforetwelveyearsfromthedateofissuance,and shall be issued in exchange for and in redemption of any and all warrants issued hereunder and not redeemed in cashwithinaperiodnottoexceedsixtydaysafterthefirstpublicationbytheCityTreasurerofnoticethattheassessmentrollfor"Local Improvement District No.45" is in his hands for collection.The bonds shall be redeemed b.y the.collection ofspecialassessmentstobeleviedandassesseduponthepropertywithinsaidDistrict, payable in ten equal annual installments,with interest at a rate to be hereafterfixedbyordinance,not exceeding 9%per annum,under the made of "paymentby bonds," as defined by law and the ordinances of the City of Moses Lake.In the case ofdefaultinthepaymentofanyassessmentwhenthesameshallbecomedue,there shallbeaddedinterestataratetobehereafterfixedbyordinance,not to exceed 9%per annum,and a penalty of 9%Which shall also be collected.The exact amount,form, date,interest rate,and denominations of said warrants and bonds shall be hereafter fixed by ordinance of the City Council.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 of saidimprovementshallbedonebyandmadebycontractuponcompetitivebidsandtheCity shall have and reserves the right to reject any and all bids.The call for bids for work authorized pursuant to the Ordinance shall include a statement that payment for said work will be made in cash warrants drawn upon "Local Improvement Fund District No.45"of Local Improvement District No.45 of the City of Moses Lake,Washington. Section 7.There is created and established in the Office of the City Treasurer of the City of Moses Lake,for Local Improvement District No.45 a special fund to be known and designated as Local Improvement Fund District No.45,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 shall be issued in payment of all other items of expense in connection with said improvement. PASSEDby the City Council and APPROVEDby Ma r this thday of July ,1979. M A Y 0 R ¯" ATTES· ity C1e PROVEDA TO : torn /lish:7/31/79