HomeMy WebLinkAboutORD 2624 � �Y � Y . .
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ORDINANCE N0. ��a�
AN ORD]L�NCE OF THE CI'�Y OF RENTON, WASHINGTQN,
FIXING THE AMOUNT, FORM, DATE, INTEREST AND RATE
OF MATURITY OF INSTALT,MENT NOTE, DIREC�'ING THE
ISSUANCE AND SALE THEREOF UNTO THE CITY OF RENTON
FIREMEN' S PENSION FUND, PERTAINING TO `I;OCAL -
IMPROV�MENT DISTRICT N0. 265
BE IT ORDAINED BY THE MAYOR AND THE CITY COUNCIL OF THE CITY
OF RENTON, WASHINGTON, AS FOLLOWS :
SECTION I: That the total amount of the assessment roll of
Local Improvement District No . 265 as heretofore revised, approved
and confirmed by the City Council under date of .�ebr.ua�r.y 1 , 1971 as
�er City of Renton Ordinance No��/� was in the sum of .$�.38, 909 , 9$.
The thirty ( 30) day period for making cash payments of assessments
without interest in said District expired on March 5 , 1971 , and the
total amount of assessments paid in cash was the sum of $29,400 . 97
leaving a balance of assessments unpaid on the assessment roll � in the
sum of $109 .509 . 01. Therefore an;�installment note in said principal
sum of $109 ,.509e01 shall be issued to the City of Renton Firem�:n's
Pension Fund and said note and payment record therefor shall 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 as provided for by Chapter 165 , Session Laws of 1961. � �
Said note shall bear interest at the rate of 6 . 20% per annum.
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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 Eund, duly accepted by the City Council on the 9�day of
�%�w� � 19� ,said installment note shall immediately 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 6 . 20o per
annum.
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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 THE CITY COUNCIL this�o��day of March, 1971.
� J
`� ����-
Helmie Nelson, City Qlerk
APPROVED BY THE MAYOR thisp?��day of March, 1971.
`G�. .
�
Wil�liam J: G�nt,.Niayor Pro-Tem
Appr ed as to fo '
��� �
Ge�ard M. Shellan , City Attorney
!�A`�' � ����� �a� �� ���
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CITY OF RENTON , WASHINGTON
LOCAL IMPROVEMENT DISTRICT• INSTALLMENT NOTE
�xhibit '°A," -� �3�cl�.r��Fa��e :Na. �b2�4
Note No . .� ,,
.�.�x
D a t e ___�L�
TO THE CITY TREASURER : •
Pa� t3n�-�hur�ar�d n�.ne thc�u:�a�d, f,��•�-�:n�ndr�d s��.n� �r��"lt#�t s���t?1
, 4�.��.00 d,d3.la��
out of Loca1 Improvement District No. ��r fvnd, either in cash ,
L. I. D. Bonds or Warrants , pvrsuant to provisions of Iaw pertaining
there to ,
T O T HE O R D E IZ O F t:3.'��T �j: �t.t�,t'1�f33'y �'•�E';rit�l'1;S P <�18? ,t1 I�" znc�
Payments sha11 be made on the principal of this Note not Iess than
once each year for a period not to exceed �� years from issue date
by the City Treasurer . This note sha11 bear interest on the unpaid
balance at ..the rate of ;��� i per annum from the issue date until the
principal amount fhereof is fu1Zy paid .
�.���`'�'..e/ �,�[:�C.C�I✓
Ci ty lerk
. ,�/,�/�'������� `�
G/ Mayor Pro-Tem
PA YMENT RECORD
Installmentl I Znterestl Principall Balance I
Number Date Payment Pa,yment Outstanding Sigaed
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_ � � � � �
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1 I I I f
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