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1265_00001ORDINANCENO.1265 ANORDINANCEORDERINGTHE IMPROVEMENTOF CLOVERDRIVEFROMEVERGREENTONELSONROADBYGRADING,GRAVELING,CONSTRUCTINGCURBWITHGUTTERS,CONCRETESIDEWALKSONONESIDE,WATERSERVICES,ASPHALTCONCRETEPAVEMENT,SEWERLATERAL,FIRE HYDRANTS,SIGNS,ANDSTORMDRAINAGEIN ACCORDANCEWITHRESOLUTIONNO.1294 OF THECITY COUNCILOF THECITYOF MOSESLAKE,I WASHINGTONESTABLISHINGLOCALIMPROVEMENTDISTRICTNO.55;PROVIDINGTHEMETHODOF ASSESSMENTIN SAID DISTRICT:PROVIDINGTHATPAYMENTFORSAID IMPROVEMENTBE MADEBYSPECIALASSESSMENTSUPONPROPERTYINSAIDDISTRICTPAYABLEBYMODEOF"PAYMENTBY BONDS";ANDPROVIDINGFORTHEISSUANCEFORSALEOFLOCALIMPROVEMENTDISTRICTWARRANTSREDEEMABLEINCASHANDLOCALIMPROVEMENTDISTRICTBONDS. RECITALS: 1.Resolution No.1294,adopted February 10,1987 by the City Council of theCityofMosesLake,Washington,declared its intention to improve CloverDrivefromEvergreentoNelsonRoadbygrading,graveling,constructingcurbs,concrete sidewalks on one side,water services,asphalt concretepavement,sewer lateral,fire hydrants,signs,and storm drainage andfixedMarch10,1987 at 8:00 p.m.in the Council Chambers in thePolice/Justice Building,Moses Lake,Washington as the time and place forhearingallmattersrelatingtosaidimprovementandallobjectionstheretoandfordeterminingthemethodofpaymentofsaidimprovement;and 2.The City Engineer's Office has caused an estimate to be made of the costsandexpenseofeachcontiguousunitoftheproposedimprovementandhascertifiedsaidestimatetotheCityCouncil,together with all papers and i information in its possession touching the proposed improvement,adescriptionoftheboundariesoftheDistrict,a statement of whatportionofthecostandexpenseoftheimprovementshouldbeborne by thepropertywithintheproposedDistrict,a statement in detail of the localimprovementassessmentsoutstandingorunpaidagainstthepropertyintheproposedDistrictandastatementoftheaggregateactualvaluationoftherealestate,including 25%of the actual valuation of theimprovementsintheproposedDistrict,according to the valuation lastplaceduponitforthepurposeofgeneraltaxation;and 3.Said estimate is accompanied by a diagram of the proposed improvementshowingthereonthelots,tracts,parcels of land,and other propertywhichwillbespecificallybenefitedbyeachcontiguousunitoftheproposedimprovement,and the estimated amount of the cost and expensethereoftobebornebyeachlot,tract,and parcel of land or otherproperty;and 4.Due notice of the hearing on Resolution No.1294 was given in the mannerprovidedbylawandsaidhearingwasheldbytheCityCouncilonMarch10,1987,and all written protests filed with the City Council on orbeforesaiddateweredulyconsidered;and 5.It has been further determined to be in the best interests of the citythatsaidimprovement,as hereinafter described,be carried out and thatialocalimprovementdistrictbecreatedinconnectiontherewith,NOWTHEREFORE, ORD.1265/Page 2 THE CITY COUNCILOF THE CITY OF MOSESLAKE,WASHINGTON00 ORDAINAS FOLLOWS: Section 1.It is hereby ordered that the improvement in the City of MosesLake,Washington,and the construction,be carried out,to wit: By grading,graveling,constructing curbs with gutters,sidewalk on one side,water services,asphalt concrete paving,sewer lateral,fire hydrants,signs,and storm drainage on said Clover Drive.I 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 herebydeclaredtobe$109,805. The entire cost and expense of said improvement shall be borne by and assessed50%of the street improvement and fire hydrant installations against thepropertyspeciallybenefitedbysuchimprovements.The entire cost of waterservicesandsewerlateralshallbeassessed100%against the propertyadjacenttoand/or specially benefited by water and sewer utility services. Section 3.There is hereby created and established a local improvementdistricttobeknownas"Local Improvement District No.55",which District isdescribedasfollowsandincludesthefollowingdescribedproperties:AllpropertiesadjacenttoCloverDrivebetweenNelsonRoadandEvergreenDrivelocatedintheSoutheast1/4 of Section 28,Township 19 North,Range 28,EastWillametteMeridian. Section 4.The nature of the improvement provided by herein is such that thespecialbenefitsconferreduponthepropertyinthelocalimprovementdistricthereincreatedarefairlyreflectedbytheuseofzone-and-termini method ofassessmentthereforeanditisherebyprovidedandorderedthatthe i assessments shall be made against the property of the District in accordancewiththezone-and-termini method provided by the statute. Section 5.Local Improvement District warrants shall be issued in payment ofthecostandexpenseoftheimprovementhereinordered,such warrants to bepayableoutofthe"Local Improvement Fund,District No.55"hereinaftercreated,to bear interest from the date thereof at a rate to be hereafterfixedbyordinance,not to exceed 15%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 be hereafter fixed by ordinancenottoexceed15%per annum,shall be payable on or before twelve years fromthedateofissuance,and shall be issued in exchange for and in redemption ofanyandallwarrantsissuedhereunderandnotredeemedincashwithinaperiodnottoexceedsixty(60)days after the first publication by the CityTreasurerofnoticethattheassessmentrollfor"Local Improvement DistrictNo.55"is in his hands for collection.The bonds shall be redeemed by thecollectionofspecialassessmentstobeleviedandassesseduponthepropertywithinsaiddistrict,payable in ten equal annual installments,with interestataratetobehereafterfixedbyordinance,not to exceed 15%per annum,under the mode of "paymentbybonds,"as defined by law and the ordinances oftheCityofMosesLake.In the case of default in the payment of anyassessmentwhenthesameshallbecomedue,there shall be added interest at aratetobehereafterfixedbyordinance,not to exceed 15%per annum,and apenaltyof10%which shall also be collected.The exact amount,form,date,I interest rate,and denominations of said warrants and bonds shall be hereafterfixedbyordinanceoftheCityCouncil.Said warrants and bonds shall be soldinsuchmannerastheCityCouncilshallhereafterdetermine. Section 6.All the work necessary to be done in connection with the making ofsaidimprovementsshallbedonebyandmadebycontractuponcompetitivebidsandthecityshallhaveandreservetherighttorejectanyandallbids.Thecallforbidsforworkauthorizedpursuant-to the ordinance shall include astatementthatpaymentforsaidworkwillbemadeincashwarrantsdrawnupon"Local Improvement Fund District No.55"of Local Improvement District No.55oftheCityofMosesLake,Washington. Section 7.There is created and established in the Office of the CityTreasureroftheCityofMosesLake,for Local Improvement District No.55 aspecialfundtobeknownanddesignatedasLocalImprovementFundDistrictNo.55 into which fund of local improvement district revenue warrants of theDistricthereinauthorized,to be issued and sold and collections pertaining ORD.1265/Page 3 to assessment and against which fund cash warrants shall be issued with saidimprovementandagainstwhichfundcashwarrantsshallbeissuedinpayment ofallotheritemsofexpenseinconnectionwithsaidimprovement. Section 8.This ordinance shall take effect and be in force five (5)daysafteritspassageandpublicationasprovidedbylaw. Adopted by the City Council and signed by its Mayor oni ATTEST: City Clerk APPROVEDAS TO FORM: City Attorney Published:April 20,1987 i