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936_00001ORDINANCENO.936 ANORDINANCEORDERINGTHE IMPROVEMENTOF FTFTHAVENUEFROMFISSTREETTOBLOCKSTREETBYGRADING,GRAVELING,CONSTRUCTING,ANDINSTALLINGCURBS,SIDEWALKS,ASPHALTCONCRETEPAVEMENTANDSTORMDRAINAGEINACCORDANCEWITHRESOLUTION#943 OF THE CITY COUNCILOFTHECITYOFMOSESLAKE,WASHINGTON;ESTABLISHINGLOCALIMPROVE-MENTDISTRICT NO.47;PROVIDINGTHEMETHODOF ASSESSMENTINSAIDDISTRICT;PROVIDINGTHATPAYMENTFORSAID IMPROVEMENTBEIMADEBYSPECIALASSESSMENTSUPONPROPERTYINSAIDDISTRICTPAYABLEBYMODEOF"PAYMENTBYBONDS";ANDPROVIDINGFOR THEISSUANCEFORSALEOFLOCALIMPROVEMENTDISTRICTWARRANTSREDEEMABLEINCASHANDLOCALIMPROVEMENTDISTRICTBONDS. WHEREAS,by Resolution No.943,adopted July 10,1979,by the City Council of theCit.y of Moses Lake,Washington,declared its intention to improve Fifth Avenue fromFigStreettoBlockStreetbygrading,graveling,constructing,and installingcurbs,sidewalks,asphalt concrete pavement,and storm drainage,and fixed the 14thdayofAugust,1979,at 8 p.m.in the Council Chambers in the Police/Justice Court,Moses Lake,Washington,as the time and place for hearing all matters relating tosaidimprovementandallobjectionstheretoandfordeterminingthemethodofpaymentofsaidimprovement;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 theestimatedamountofthecostandexpensethereoftobebornebyeachlot,tract andparceloflandorotherproperty;and WHEREAS,due notice of the hearing on Resolution No.943 was given in the mannerprovidedbylaWandsaidhearingwasheldbytheCityCouncilonAugust14,1979,andallwrittenprotestsfiledwiththeCityCouncilonorbeforesaiddatesweredulyconsidered;and WHEREAS,it has been further determined to be in the best interests of the City thatthesaidimprovement,as hereinafter described,be carried out and that a localimprovementdistrictbecreatedinconnectiontherewith,NOWTREREFORE, THECITY COUNCILOF THECITY OF MOSESLAKE,WASHINGTON,DOORDAINAS 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 asphalt concrete pavement,and storm drainage on Fifth Street betweenFigStreetandBlockStreet. All of the foregoing shall be in accordance with the plans and specifications there-fore prepared by the City Engineer's office. Section 2.The estimated cost and expense of said improvement is hereby declared tobe$48,160.00. 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.47",which District is described as follows and includes the following described properties: All the properties adjacent to the northwesterly right-of-way of FifthAvenuebetweenFigStreetandBlockSTreetandLotT&2 of the HulbertAdditionintheCityofMosesLake. 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 thereforeanditisherebyprovidedandorderedthattheassessmentsshallbemadeagainst thepropertyoftheDistrictinaccordancewiththezone-and-termini method provided bystatute. Section 5.Local Improvement District warrants shall be issued in payment of thecostandexpenseoftheimprovementhereinordered,such warrants to be payable outofthe"Local Improvement Fund,District No.47 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 bonds herein authorized to be issued.Such bonds shall bear interest at a rate to.behereafterfixedbyordinance,not to exceed 9%per annum,shall be payable on orbeforetwelveyearsfromthedateofissuance,and shall be issued in exchange forandinredemptionofanyandallwarrantsissuedhereunderandnotredeemedincashwithinaperiodnottoexceedsixtydaysafterthefirstpublicationbytheCityTreasurerofnoticethattheassessmentrollfor"Local Improvement District No.47" is in his hands for collection.The bonds shall be redeemed by the collection ofspecialassessmentstobeleviedandassesseduponthepropertywithinsaidDistrict,payable in ten equal annual installments,with interest at a rate to be hereafterfixedbyordinance,not exceeding 9%per annum,under the mode of "paymentbybonds," as defined by law and the ordinances of the City of Moses Lake.In the case ofdefaultinthepaymentofanyassessmentwhenthesameshallbecomedue,there shallbeaddedinterestataratetobehereafterfixedbyordinance,not to exceed 9%perannum,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 insuchmannerastheCityCouncilshallhereafterdetermine. Section 6.All the work necessary to be done in connection with the making of said improvement shall be done b.y and made by contract upon competitive bids and the City shall have and reserves the right to reject any and all bids..The call for bids forworkauthorizedpursuanttotheOrdinanceshallincludeastatementthatpaymentfor said work will be made in cash warrants drawn upon "Local Improvement Fund District No.47"of Local Improvement District No.47 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.47 a special fund to be known and designated as Local Improvement Fund District No.47 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. of pt m r 7Mo APPROVEDby its tity Clerk APPROVEDAS 0 i torgsy'/