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RESOLUTION NO.?7
A RESOLUTION of the City Council of Moses Lake,
Washington, creating a Construction Fund for
Local Improvement District No. 3 of the city
for the purpose of paying all of the costs of
the improvements to be constructed and in
stalled in said local improvement district,
Including all costs incidental thereto.
WHEREAS, by proceedings duly and regularly taken and by
Ordinance No./yj *passed and approved \Lcc^i^A *-/.1952,Local
Improvement District No.3 of the city waer created and the construction
and installation of certain improvements therein was authorized;and
WHEREAS,notice of call for bids for the construction and
installation of said improvements was duly given as required by law,
and contracts have been let for the construction of said improvements
to the lowest responsible bidders;and
WHEREAS,the city has entered into an agreement with Wm.P.
Harper & Son &Company,investment bankers of Seattle,Washington,
whereby said firm has agreed to purchase warrants drawn on Local
Improvement District No.3 Fund created by said Ordinance No./tyi7
for the amount of the fixed estimate charges for this district and
in amounts equal to the monthly estimates due said contractors as
approved by the city's engineering firm and the City Council;and
WHEREAS,it is necessary that the money received by the city
from said Wm.P. Harper & Son & Company from the sale of said warrants
should be placed in a special Construction Fund and be used to pay said
fixed estimate charges and said contractors;and
WHEREAS,it is necessary that such a special fund be now
created for said purposes;
NOW,THEREFORE,BE IT RESOLVED by the City Council of the
City of Moses Lake,Washington,as follows:
That there be and is hereby created a special fund of the
city known as "Local Improvement District No.3 Construction Fund."
All moneys received from the sale of warrants drawn on Local Improve
ment District No.3 Fund shall be placed in said Construction Fund
and sh5.ll be used solely for the purpose of paying all fixed estimate
charges due for said local improvement district and for paying the
amounts due the contractors under their contracts with the city for
the construction and installation of the improvements in said local
improvement district.
PASSED by the Council of the City of Moses Lake, Washington,
and approved by its Mayor this 22d day of July, 1952.
CITY OJ^OSgS LAKE,WASHINGTON
By
Mayor
ATTEST:
City C^erk
2.