1341_00001ORDINANCENO.1341
ANORDINANCEPROVIDINGFOR THEASSESSMENTOF PROPERTYFORSIDEWALKIMPROVEMENTSANDESTABLISHINGTHETERMSOFPAYMENT
RECITALS:
1.The City Council of the City of Moses Lake ordered by Resolution 1389 the ownersIofthepropertycommonlydescribedas1103and1107BakerStreettoreconstructcertainsidewalkabuttingtheirpropertywhichwassubstandardandunfitandun-safe for public travel.
2.The owners of the property did not reconstruct the sidewalk in question within thetimeframeestablishedbytheresolution.
3.The City of Moses Lake reconstructed the sidewalk in question as part of thecity's street overlay program.
THECITY COUNCILOF THE CITY OF MOSESLAKE;WASHINGTON00 ORDAINAS FOLLOWS:
Section 1.The property commonly described as 1103 and 1107 Baker Street are assessedforthecostofthesidewalkimprovementscompletedbytheCityofMosesLakeasfol-lows which is in accordance with the assessment roll prepared by the Moses LakeMunicipalServicesDepartmentwhichismarkedExhibitAandpresentedtotheMoses LakeCityCouncilandwhichisattachedtothisordinanceandincorporatedbyreferenceherein:
1103 Baker Street -$1 280.461107BakerStreet-67.40
Section 2.The assessment shall be paid according to the amortization schedule markedExhibitBwhichisattachedtothisordinanceandincorporatedbyreferenceherein.
I Section 3.The assessment can be repaid at any time without penalty with interest com-puted on the remaining balance at a 9%annual rate.Any municipal installment notpaid,or such installment due and payable shall become delinquent,except that the pa-yament which was due on Novemnber 1,1988,shall not be due until January 15,1989,andifpaidonJanuary15,1989,it shall not be considered delinquent.The payment due onJanuary15,1989 shall accrue interest computed at 9%per annum.All delinquent in-stallments excepting the first installment which shall be payable by January 15,1989,shall be subject to additional interest charges computed at 9%and for an additionalpenaltysetforthbyMosesLakeMunicipalCode3.50.020.
Section 4.The assessment shall become a lien upon the said property and shall be col-1ected in the manner as is provided by law for the collection of local improvement dis-tricts under RCWTitle 35.
Section 5.This ordinance shall take effect and be in force five (5)days after itspassageandpublicationasprovidedbylaw.
Adopted by the City Council and signed by its Mayor on October 11,1988.
Mayor 's '
i ATTET:
Finance Director
TO
SUMMARYPUBLISHED10/19/88
LOANAMT PAYMENT ANNLRATE MONTHS-TERMMONTHS-PERIDD
$1,347.86 $210.02 9.00%120 12
DATEDUE PAY#PAYMENT INTEREST PRINCIPAL LOANBALANCE
JAN15 89 |1 $213.96 $125.25 $88.71 $1,259.15
NOV 1 89 2 $210.02 $113.32 596.70 $1,162.45
3-32 $96 0
NOV 1 90 3 $210.02 $104.62 $105.40 $1,057.05
NOV 1 91 4 $210.02 $95.13 $114.89 $942.16
NOV 1 92 5 $210.02 $84.79 $125.23 $816.93
$84 155
NOV 1 93 6 $210.02 $73.52 $136.50 $680.43
$73.52 5136.50
NOV 1 94 7 $210.02 $61.24 5148.78 $531.65
$61.24 -$148.78
NOV 1 95 8 $210.02 $47.85 $162.17 5369.48
$47.85 $162.17
NOV 1 96 9 5210.02 $33.25 5176.77 5192.71
$33.25 $176.77
NOV 1 97 10 .$210.05 $17.34 $192.71 $.00
$17.34 $192.71
*****..****.....**********
$756,3T $1,347.86