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I ' ORDINAI�E N�. .�'�'}'� " r
AN ORDINAIVCE OF THE CTTY OF RENTONt WASHINGTON� FDCING 1'F�
AM011NT� FOBNi� I�ATE� INTEREST AND RATE OP MATURITY t� INSTALLMENF
NOTE� DIR�CTII�iG ',C�iE ISSLtAI�CB A1�ID SALE THEREOF UNTO THE CITY OF
RENTBN FIREMEN'S PENSION FUIaD� REIATING Tt) Lt)G�L II�Y?�OV�ME1�I'T
DISTRICT N{3„ 2�5.
BE IT ORI�A I1�D BY THB MAY08 A N� `I'� C ITY COt31�IL C?�' THB C ITY OF RBNTflN�
WASKII�TON� AS FOLLl7tJS i
SBCTION I; That the total amount of the �ssess�en� ro12 of Lacal Lnpravement �
District No, 255 has hexetofore revised� approved $nd confirmed by the City Council
under date of Mareh 28* 19G6, as per CiCy ef Renton Ordinance No. 2226 was in tt�e
sum o� $20,10�.74. The th�rty C30} d�y perioci for making cash p�rymet�ts o€ a�sess-�
ments withcKtt 3.nterest in s�id Dietrict expired an May 6, 1966 anc� the tot81 amount
o£ assesamants paid in cash was the sum of $1272.83, 1e�ving a balence af �asessmeate
unpaic� on t}�e e�sessment rall in the sum af $8,834.93. Therefor� an instal2ment note
in said tatal prfncipa3 suan of $8,834.42 st�ll be issued to the City of Renton Fir�men•s
Pensian Fund and said nate and pay�nt record there£or shall be 9.n the form attached
hereto, iabeled Exhibit "A'• and made a pert qf this Ord3nance as if fully �et forth
herein, whieh aate and payment record sh�Il be issued as provfded for by Chspter 165,
Session Laws of 1961. Safd note sha21 bear i�terest at the rat� of 4.?�� ger annum.
S�CTION IIs S,�id instalimeat note shali 3�e ai.gned by the Mayar and ette�ted
to bq the City Clerk �nd shall ha�+e the se�l o� the C�.ty af Rentan aff ixed thereto,
SBCTIt3N IIIi In aecardance with the o££er af th�a Firem�en•s Pension Fund, duly
aecegted by th� City Cauncil an lst of November , 1966, said insta2lment note shai2
immediately be .delivered to said k�irearen's Pensic►n Fund in exchange for the princ-i�82�
amount af eaid note, tog�er with accrued interest, et the rate af 4.75� per snnum. �
SBCTION IVt The aforesaid note t�nd �t�y norN-interest be�ring default of
3.nsta22ment gnt�rest certificates shall be sub�act to the sacue redemptian prfv£Ieges
es applie@ to �ny Laeal Imprnvemet�t Uistrict bands and warrants as provided far in
R.C,W� 35.54 et seq�
PASSED HY THE CITY COt7NCIL this�l3��)day af May, I966. %�
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�eimie Nelsan, City C2erk
APPROVED BY "i'f}E MAYOFt this���day of l�y, �66• -
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� Bruce T. Hulse, Acting I�9ayor I
Approvec� as ta form:
uerard M. 3helian, City Attorney
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QATE OF PU�L6CATI�11� �1A1 z � 1966
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- ISSfJE DATE , �`�,� 2�*�' 196�'
Ta 'i'HE CTTY TF�,ASUF�' :
P�Y�' ��'� ����u,�ar�d �.�;l��r, I�unt.�.x•ec� Ix��..ri:y four �. �l/1C�0 ?��'��34.91
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CJ�.t� of �:>ca1 Iin��ravemcl��� Dis�rict t��o', ?55 �an�, c�thar in cash, L.I,.Da Bc�nd�
� or ��+���s•r��nt� pursuant �o provis�ans of 1aw portaining th�retc�f
' TO� `1'�-iL ORDER QF' �'�`�'�:�?��Id';: a�'ral3��'GTv F'���iD . . '
' . � � - of this Note nQt less than once each ear
. Pa�ents shall �ae r��.de on the pr�ncipa3. Y
� for a periad not to exceed 1.2 years £roz� th� issue date,b� the City Treasurer. ,
. . This �1otc� shall �ear interest on the unpaid balar�ce at't.rie� �a�z of ��►75 � per
�. � ��nura fror� t}�e wssue date until the przncipa.�. amount�'�;l��ereof,.�.s f.�i.:tly paad. • ,
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