HomeMy WebLinkAboutORD 2457 ? '
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ORDINANCE N0.':����
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AN ORDINANCE OF � CITY OF REN'TON, WASHINGTON, FIXING �
THE AMOUNT, FORM, DATE, INTEREST AND RA'I'E OFMATURITY ,
OF INSTAL�]T NOTE, DIRECTIN� THE ISSUANCE AND SALE '
THEREOF UN'I'0 T!-� CITY OF RENTON FIRIl"tII�t'S PENSION FUND, '
RELATING TO LOCAL IMPROVEMENT DISTRICT N0. 258.
BE IT ORDAINED BY THE MAYOR AND THE CITY COiTi��CIL OF THE CITY OF RENTON,
WASHINGTON, AS FOLLOWS:
SECTION I: That the total amount of the assessment roll of Local Improvement
District No. 258 as heretofore revised, approved and confirmed by the City Council
under date of November 25, 1968, as per City of Renton Ordinance No. 2445 was in the
sum of $ 46,744.85 . The thirty (30) day period for making cash payments of assess-
ments without interest in said District expired on January 6 , 1969 and the total
amount of assessments paid in cash was the sum of $ 6,610.98� leaving a balance of
assessments unpaid on the assessment roll in the sum of $ 40,133.87 , Therefore an
installment note in said total principal sum of $ 40,133.87 shall be issued to the
City of Renton Firemen's Pension �nd and said note and payment record therefor sha11
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• be in the form attached hereto, labeled Exhibit "A" and made a part of this Ordinance
� � as if fully set forth herein, which note and payment;�record shall be issued �s
iprovided for by Chapter 165, .Session Laws of 1961. Said note shall bear interest at
the rate of 5% per annum.
, SECTION II: Said installment note shall be signed by the Mayor and attested
' to by the City Clerk and shall have the seal of the City of Renton affixed thereto.
SECTION III: In accordance with the offer of the Firemen's Pension Fund, duly
accepted by the City Council on the 27th day of May , 1968, said instal]ment
note shall inunediately be delivered to said Firemen's Pension Fund in exchange for
the principal amount of said note, together with accrued interest, at the rate of
5% per annum.
SECTION IV: The �aforesaid note and any non-interest bearing default of
installment interest certificates shall be subject to the same redemption privileges
as applied to any Local Improvement District bonds and warrants as provided for in
RCW 35.54 et seq.
PASSED BY 'Tf� CITY COUNCIL /�.3�day of ,196 � -
`.������yt�c:�/ /�-+�%��vz--'
He7mie lson, Ci�cy Clerk .,
APPROVED BY '1'I� MAYOR this�,3.G�day of ��� . ,196 y ;
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Approved� t;o form: � l
.j�r�, � ` �'� Donald W. Custer, Mayor
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Gerard 1�I. Shellan, Ci-tv Attornev DAT� OF PUBLICA�iO.� �����V ,� �, f��
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� " • � EX}iIBIT "A" ORDINANCE No. 245'1 �.. �
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� LOCAL Il•ZPROVErZENT DISTRICT INST�II.,LMEN'.� NOTE
� � NOfiE 7
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���� �A� ,Ianuary 13,1969
TO THE CITY Z'REASUR�h'.:
pAy �orty Thausand, One Hundred Thirty-three & 87/100 �40.J.33.$7
Out of Iacal ;Gnpravement District iVo. 258 fund� eithor i.n cash� L.I.D. Bonds -
or Warrants purauant to provisians of law pertaining thereto�
� TO THE ORI}ER C}� F IREMEN'S PENS ION FUND ,
Payments shall be made on the principal of this Nate not less 1;han once each year
far a period not to axceed 12 years fram the issue date,.by the Gity Treasurer.
This Note shall bear interest on the unpaid balance at �he�rate of �, S � per �I
annum from the issue date until the pra.ncipal �t t�.hereof 1is��fla.7ly p�id. �
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