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1338_00001ORDINANCENO.1338 AN ORDINANCEORDERINGTHE IMPROVEMENTOF SEVENTHAVENUE BY GRADING,GRAVELING,CONSTRUCTING,ANDINSTALLING CURBS,SIDEWALKS,SEWERSIDE LATERALS,WATERSERVICES, ASPHALTCONCRETEPAVEMENT,ANDSTORMDRAINAGEIN ACCOR- DANCEWITHRESOLUTION1403 OF THE CITY COUNCILOF THE CITY OF MOSESLAKE,WASHINGTONESTABLISHINGLOCALIM- PROVEMENTDISTRICT NO.56;PROVIDINGTHE METHODOF AS- SESSMENTIN SAID DISTRICT;ASSESSMENTSUPONPROPERTYINISAIDDISTRICTPAYABLEBYMODEOF"PAYMENTBY BONDS";AND PROVIDINGFORTHE ISSUANCEFORSALE OF LOCALIMPROVEMENT DISTRICTWARRANTSREDEEMABLEIN CASHANDLOCALIMPROVE- MENTDISTRICT BONDS. RECITALS: 1.Resolution No.1403 adopted August 23,1988 by the City Council of theCityofMosesLake,Washington,declared its intention to improve Seventh Avenue by grading,graveling,constructing,and installing curbs,side-walks,sewer sidse laterals,water services,asphalt concrete pavement, and storm drainage and fixed September 13,1988 at 8:00 p.m.in the Coun- cil Chambers in the Police/Court Facility,Moses Lake,Washington,as thetimeandplaceforhearingallmattersrelatingtosaidimprovementand all objections thereto and for determining the method of payment of said improvement;and 2.The City Engineer's Office has caused an estimate to be made of the costsandexpenseofeachcontinuousunitoftheproposedimprovementandhas certified said estimate to the City Council,together with all papers andinformationinitspossessiontouchingtheproposedimprovement,adescriptionoftheboundariesoftheDistrict,a statement of what por-tion of the cost and expense of the improvement should be borne by thepropertywithintheproposedDistrict,a statement in detail of the local improvement assessments outstanding or unpaid against the property in theiproposedDistrictandastatementoftheaggregateactualvaluationoftherealestate,including 25%of the actual valuation of the improve- ments in the proposed District,according to the valuation last placed upon it for the purpose of general taxation;and 3.Said estimate is accompanied by a diagram of the proposed improvementshowingthereonthelots,tracts,parcels of land,and other property which will be specifically benefited by each continuous unit of the pro-posed improvement,and the estimated amount of the cost and expensethereoftobebornebyeachlot,tract,and parcel of land or other prop-erty;and 4.Due notice of the hearing on Resolution No.1403 was given in the mannerprovidedbylawandsaidhearingwasheldbytheCityCouncilonSeptem-ber 13,1988 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 city that said improvement,as hereinafter described,be carried out and that a local improvement district be created in connection therewith,NOWTHEREFORE, THECITY COUNCILOF THE CITY OF MOSESLAKE,WASHINGTON00 ORDAINAS FOLLOWS: I 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,and installing curbs,sidewalks,sewer side laterals,water services,asphalt concrete pavement,and storm drainage on SeventhAvenue. All of the foregoing shall be in accordance wit the plans and specificationsthereforepreparedbytheCityEngineer's Office. Section 2.The estimated cost and expense of said improvement is hereby de-clared to be $35,223.14. The entire cost and expense of said improvement shall be borne by and assessedagainstthepropertyspeciallybenefitedbysuchimprovementtobeincludedinthelocalimprovementdistricthereinafterestablishedembracing,as near asmaybe,all properties specially benefited by such improvement. ORD.1338 -PAGE 2 Section 3.There is hereby created and established a local improvement dis- trict to be known as "Local Improvement District No.56",which District is described as follows and includes the following described properties:Seventh Avenue from the southwest side of Balsam to the southwest side of Chestnut Street. 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 assess- ments shall be made against the property of the District in accordance with the zone-and-termini method provided by statute. Section 5.Local Improvement District warrants shall be issued in payment of the cost and expense of the improvement herein ordered,such warrants to be payable out of the "Local Improvement Fund,District No.56"hereinafter cre-ated,to bear interest from the date thereof at a rate to be hereafter fixed by ordinance,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 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 warrants issued hereunder and not redeemed in cash within a period not to exceed sixty (60)days after the first publication by the City Treasurer of notice that the as- sessment roll for "Local Improvement District No.56"is in his hands for col- lection.The bonds shall be redeemed by the collection of special assessments to be levied and assessed upon the property within said district,payable in ten equal annual installments,with interest at a rate to be hereafter fixed by ordinance,not exceeding 15%per annum,under the mode of "paymentby bonds,"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 be- come due,there shall be added interest at a rate to be hereafter fixed by ordinance,not to exceed 15%per annum,and a penalty as set by Moses Lake. Municipal Code 3.50.020 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 - said improvements shall be done by and made by contract upon competitive bids and the city shall have and reserve the right to reject any and all bids.The call for bids for work authorized pursuant to the ordinance shall include astatementthatpaymentforsaidworkwillbemadeincashwarrantsdrawnupon "Local Improvement Fund District No.56"of Local Improvement District No.56 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.56 aspecialfundtobeknownanddesignatedasLocalImprovementFundDistrictNo. 56 into which fund of local improvement district revenue warrants of the Dis- trict herein authorized,to be issued and sold and collections pertaining to assessment and against which fund cash warrants shall be issued with said im- provement and against which.fund cash warrants shall be issued in payment of all other items of expense in connection with said improvement. Section 8.This ordinance shall take effect and be in force five (5)days after its passage and publication as provided by law. Adopted by the City Council and sig A City Clerk APPROVEDAS TO FORM: City Attornèy * Published:10/20/88