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937_00001ORDINANCENO.937 ANORDINANCEORDERINGTHE IMPROVEMENTOF IRONWOODDRIVEFROMPLUMSTREETTO350'SOUTHON THEWESTERLYSIDE PORTIONOF IRONWOODBYGRADING,GRAVELING,CONSTRUCTINGANDINSTALLINGCURBS,SEWERSIDELATERALS,ASPHALTCONCRETEPAVINGANDSTORMDRAINAGEIN ACCORD- ANCEWITHRESOLUTION0944OF THE CITY COUNCILOF THE CITY OFMOSESLAKE,MASHINGTON;ESTABLISHINGLOCALIMPROVEMENTDISTRICTNO.48;PROVIDINGTHEMETHODOF ASSESSMENTIN SAID DISTRICT;PROVIDINGTHATPAYMENTFORSAID IMPROVEMENTBE MADEBYSPECIAL.ASSESSMENTSUPONPROPERTYIN SAID DISTRICT PAYABLEBYMODEOF"PAYMENTBYBONDS";ANDPROVIDINGFORTHE ISSUANCEFORSALEIOFLOCALIMPROVEMENTDISTRICTWARRANTSREDEEMABLEINCASHANDLOCALIMPROVEMENTDISTRICTBODNS. WHEREAS,by Resolution No.944,adopted July 10,1979,by the City Council of theCityofMosesLake,Washington,declared its intention to improve Ironwood Drive fromPlumStreetto350'south on the westerly side portion of Ironwood by grading,graveling,constructing and installing curbs,sewer side laterals,asphalt concretepavingandstormdrainage,and fixed the 14th day of August,1979,at 8 p.m.in theCouncilChambersinthePolice/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 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 generaltaxation;and i 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.944 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,110W THEREFORE, 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,sewer sidelaterals,asphalt concrete pavement,and storm drainage on IronwoodDrivefromPlumStreetto350'south on the westerly portion of Iron-wood Drive, i All of the foregoing shall be in accordance with the plans andspecifications there-fore prepared by the City Engineer's office. Section-2.The estimated cost and expense of said improvement is hereby declared tobe$8,600.00 The entire cost and expense of said improvement shall be borne by an4 assessedagainstthepropertyspeciallybenefitedbysuchimprovementtoþeincludedin ,the local improvement district hereinafter established embracing,as-near as may be,allpropertiesspeciallybenefitedb.y such improvement. Séötion 3.There is hereby created and established a local improvement district to beknownas"Local ImprovementDistrict No.48",which District is described as followsandincludesthefollowingdescribedproperties: A portion of property in the northeast quarter of Section 23 Township19North,Range 28 EWM,beginning at the centerline of Ironwood DriveandPlumDriveasshownontheNorthTerraceNo.2 Addition,thencesouth36°55'30"west 350 feet;thence north 53°04'30"West 150 feet;thence north 36°55'30"east 350 feet;thence south 53°04'30"east150feettotheTruePointofBeginning. Section 4.The nature of the improvement provided by herein is such that the specialbenefitsconferreduponthepropertyinthelocalimprovementdistricthereincreatedarefairlyreflectedbytheuseofzone-and-termini method of assessment thereforeanditisherebyprovidedandorderedthattheassessmentsshallbemadeagainstthepropertyoftheDistrictinaccordancewiththezone-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.48"hereinafter created,to bear inter-est from the date thereof at a rate to be hereafter fixed by ordinance,not to exceed9%per annum,and to be redeemed in cash,and/or by local improvement district bondshereinauthorizedtobeissued.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.48"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 modeof "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%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 hereafterfixedbyordinanceoftheCityCouncil.Said warrants and bonds shall be sold insuchmannerastheCityCouncilshallhereafterdetermine. 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 forworkauthorizedpursuanttotheOrdinanceshallincludeastatementthatpaymentfor said work will be made in cash warrants drawn upon "Local Improvement Fund District No.48"of Local Improvement District No.48 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.48 a special fund to be known and designated as Local Improvement Fund District No.48 into which fund oflocalimprovementdistrictrevenuewarrantsoftheDistricthereinauthorized,to be issued and sold and collections pertaining to assessment and against which fund cashwarrantsshallbeissuedwithsaidimprovementandagainstwhichfundcashwarrantsshallbeissuedinpaymentofallotheritemsofexpenseinconnectionwithsaidimprovement. PASSEDby the City Council and APPROVEDby th Mayor this 11th day of September,1979. MA'YOR tity Clerk