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976_00001ORDINANCENO.976 ANORDINANCEORDERINGTHE IMPROVEMENTIN THE PENNSTREETAREAONFIGSTREETBETWEENWHEELERROADANDFIFTHAVENUEANDONFIFTHAVENUEBETWEENFIGSTREETANDELDERSTREETBYGRADING,GRAVELING,CONSTRUCTING,ANDINSTALLINGSTORMDRAINAGE,CURBS,SIDEWALKS,ANDASPHALTCONCRETEPAVEMENTIN ACCORDANCEWITHRESOLUTION927OFTHECITYCOUNCILOFTHECITYOFMOSESLAKE,WASHINGTON,ESTABLISHINGLOCALIMPROVEMENTDISTRICT NO.44;PROVIDINGTHEMETHODOF ASSESSMENTIN SAID DISTRICT PAYABLEIBYMODEOF"PAYMENTBY BONDS";ANDPROVIDINGFORTHE ISSUANCEFORSALEOFLOCALIMPROVEMENTDISTRICTWARRANTSREDEEMABLEINCASHANDLOCALIMPROVEMENTDISTRICT-EQUBS;ANDREPEALINGORDINANCENO.928.WHEREAS,by Resolution No.927 adopted April 10,1979 by the City Council of theCityofMosesLake,Washington,declared its intention to improve the Penn StreetAreaonFigStreetbetweenWheelerRoadandFifthAvenueandonFifthAvenuebetweenFigStreetandElderStreetbygrading,graveling,construcing and install-ing storm drainage,curbs,sidewalks,and asphalt concrete pavement and fixing the8thdayofMay,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 mattersrelatingtosaidimprovementandallobjectionstheretoandfordetermining themethodofpaymentofsaidimprovement;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 improve-ment should be borne by the property within the proposed District,a statement indetailofthelocalimprovementassessmentsoutstandingorunpaidagainstthepropertyintheproposedDistrictandastatementoftheaggregateactualvalu-ation of the real estate,including 25%of the actual valuation of the improve-ments in the proposed District,according to the valuation last placed upon it forithepurposeofgeneraltaxation;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 andallwrittenprotestsfiledwiththeCityCouncilonorbeforesatddatesweredulyconsidered;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, THECITY COUNCILOF THE CITY 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: The Penn Street Area on Fig Street between Wheeler Road and FifthAvenueandonFifthAvenuebetweenFigStreetandElderStreetbygrading,graveling,constructing and installing storm drainage,curbs,I sidewalks,and asphalt 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. Ord.9761 Pg..2 The entire cost and expense of said improvement shall be borne by and assessedagainstthepropertyspeciallybenefitedb.y such improvement to be included in 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 by grading,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 thespecialbenefitsconferreduponthepropertyinthelocalimprovementdistrict herein created are fairly reflected by the use of zone-and-termini method of assessment therefore and it is hereby provided and ordered that the assessmentsshallbemadeagainstthepropertyoftheDistrictinaccordancewiththezone-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 bear interest from the date thereof at a rate to be hereafter fixed by ordinance,andtoberedeemedincash,and/or by local improvement district bonds herein author- ized to be issued.Such bonds shall bear interest at a rate to be hereafter fixed by ordinance,shall be payable on or before twelve years from the date of issuance, and shall be issued in exchange for and in redemption of any and all warrantsissuedhereunderandnotredeemedincashwithinaperiodnottoexceedsixty days after the first publication by the City Treasurer of notice that the assessmentrollfor"Local Improvement District No.44"is in his hands for collection.The bonds shall be redeemed by the collection of special assessments to be levied andassesseduponthepropertywithinsaidDistrict,payable in ten equal annual installments,with interest at a rate to be hereafter fixed by ordinance,under the mode of "paymentbybonds,"as defined by law and the ordinances of the City of Moses Lake.In the case of default in the payment of any assessment when the same shall become due,there shall be added interest at a rate to be hereafter fixed b.y ordinance,and a penalty to be hereafter fixed b.y ordinance 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 Councilshallhereafterdetermine. 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 statement that payment for said work will be made in cash warrants drawn upon "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 tobeknownanddesignatedasLocalImprovementFundDistrictNo.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 shall be issued in payment of all other items of expense in connec-tion with said improvement. Section 8.Ordinance No.928 is hereby repealed in its entirety upon the effec- tive date of this ordinance. Ord.976:Pg.3 Section 9.The invalidity of any part of this ordinance shall not affect thevalidityofanyotherpartofthisordinancewhichcanbegivenitsfullforce andeffectwithouttheinvalidportionorportions. Section 10.This ordinance shall take effect and be in force five (5)days afteritspassageandpublicationasprovidedbylaw. PASSEDby the City Council of the City of Moses Lake,Washington,and APPROVEDbyitsMayorthis28thdayofOctober,1980. I MAYORATTE /City Cler / Ughÿ Attorney Publish:11/6/80 i i