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1704_00001ORDINANCE NO.1704 ANORDINANCE APPROVING ANDCONFIRMING THEASSESSMENTSANDASSESS- MENT ROLL OF LID58 WHICH HAS BEEN CREATEDANDESTABLISHEDFOR THE PURPOSE OF PAYINGTHE COST OF IMPROVINGTHE CENTRALDRIVEAREA BETWEENGRAPE DRIVEANDVALLEYROAD,GRAPE DRIVE BETWEEN CENTRAL DRIVEAND HIGHWAY17,CENTRAL PLACE,AND EVELYN DRIVEBETWEENCRESTDRIVEANDCENTRALDRIVEAREABYCONSTRUCTINGANDINSTALLINGFULL WIDTH STREET IMPROVEMENTS INCLUDINGPAVING,CURBS,GUTTERS,STORM DRAINAGE,SIDEWALKS,LANDSCAPING,STREET LIGHTING,ELECTRICALOTRANSMISSIONANDDISTRIBUTIONALTERATIONS,ANDTRAFFIC SIGNALl7.ATION IN THE CITY OF MOSES LAKE AS PROVIDED BY ORDINANCE NO.1692 AND LEVYINGANDASSESSINGTHE AMOUNTTHEREOF AGAINST THE SEVERAL LOTS, TRACTS,PARCELSOF LAND,ANDOTHERPROPERTYSHOWNON SAID ROLL WHEREAS,the assessment roll levyingthe special assessments against properties located in LocalImprovementDistrictNo.58 in the Cityof Moses Lake,Washington,created under Ordinance No.1692 has been filedwith the Finance Directorof the Cityof Moses Lake as provided by law;and WHEREAS,(1)notice of the time and place of hearing on the assessment rolland of makingobjectionsandproteststosaidrollwasdulypublishedinthemannerprovidedbylaw,and fixingthetimeand place of thehearing for LID No.58 at 7 p.m.on November 14,1995 in theCouncilChambers inthePolice/Court Facility,Moses Lake,Washington,and (2)notice of the hearingwas duly mailed by the Finance Director toeach propertyowner shown on said rollaccordingto law,and WHEREAS,at the timeand place fixed and designated in said noticethehearing was duly held and all protests made in writingwere read and submitted to the City Council and were considered by the CityCouncil, THE CITY COUNCIL OF THE CITY OF MOSES LAKE,WASHINGTON DOORDAIN AS FOLLOWS: Section 1.That the assessments and assessment roll of LocalImprovement DistrictNo.58 which has been filed with the Finance Director and considered by the City Councilwhich has been created andestablishedforthepurposeofpayingthecostofimprovingtheCentralDriveareabetweenGrapeDrive and Valley Road,Grape Drive between Central Drive and Highway 17,Central Place,and Evelyn Drive O between Crest Drive and Central Drive area by constructing and installing fullwidthstreet improvementsincludingpaving,curbs,gutters,storm drainage,sidewalks,landscaping,street lighting,electrical transmissionand distribution alterations,and trafficsignalization in the Cityof Moses Lake as providedinOrdinanceNo.1692 as thesame now stands,be and the same as hereby in all thingsand respects approved and confirmed. Section 2.That each of the lots,tracts,parcels of land and other property shown upon the said rollisherebydeterminedanddeclaredtobespeciallybenefitedbysaidimprovementsinatleasttheamountchargedagainstthesameandtheassessmentappearingagainstthesameisinproportiontotheseveralassessmentsappearinguponsaidroll.There is hereby levied and assessed against each lot,tract,parceloflandandotherpropertyappearinguponsaidrolltheamountfinallychargedagainstthesamethereon. Section 3.That the assessment roll as approved and confirmedshall be filed withthe Finance DirectoroftheCityofMosesLakeforcollectionandthatsaidFinanceDirectorisherebyauthorizedanddirected to publish notice as required by law stating thatsaid roll is in his hands for collection and thatpaymentofanyassessmentthereonoranyportionofsaidassessmentcanbemadeatanytimewithinthirty(30)days from thedate ofthefirst publication ofsaid noticewithout penalty,interest,orcost,andthathereafterthesumremainingunpaidmaybepaidinequalannualinstallmentsinanumberasdeterminedbythebondissue,with interest thereonfixedat therate of not greater than8.5%per annum,provided,however,that if the net effective interest rate fixed on the local improvement bonds hereafter issued for LocalImprovementDistrictNo.58 is greater than 8.5%per annum,the interest rate on theunpaidassessmentsshallberevisedtoarateof1/2 of 1%inexcess of the net effectiveinterest rateon such bonds.The firstinstallmentofassessmentsonsaidassessmentrollshallbecomedueandpayableduringthe30-dayperiodsucceedingthedateoneyearafterthedateoffirstpublicationbytheFinanceDirectorofnoticethat itheassessmentrollisinhishandsforcollectionandannuallythereaftereachsucceedinginstallmentshallIbecomedueandpayableinlikemanner. If thewhole or any portion oftheassessment remains unpaid after the first 30-day period,interest uponthewholeunpaidsumshallbechargedatarateofnotgreaterthan8.5%per annum,providedhowever,that if the net effective interest rate fixed on the local improvement bonds hereafter issued for LocalImprovementDistrictNo.58 is other than8%per annum,theinterest rate on theunpaidassessments shallberevisedtoarateof1/2 of 1%in excess of the net effectiveinterest rate on such bonds;and each yearthereafteroneofsaidinstallments,togetherwithinterest due on the wholeof the unpaid balance,shallbecollected.Any installment not paid prior to theexpirationof the said 30-day period durîng which suchinstallmentisdueandpayableshallthereuponbecomedelinquentAlldelinquentinstallmentsshallbesubjecttoachargeforinterestattherateabovereferenced,and a penalty as set by Moses LakeMunicipalCode3.50.020.The collectionof such delinquent installments shall be enforcedin the mannerprovidedbylaw. ORD.1704/Page 2 Section 4.This ordinance shall takeeffect and be in force five (5)days after its passage and publication of its summary as provided by law. Adopted by the City Council and signed by its Mayor on December 19,1995. ATTEST: Finance Director A A Cit/Attorney PUBLISHED:12/22/95 O