HomeMy WebLinkAboutORD 2628 � ' L .N._,.,_,y •
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ORDINANCE NO .���.�
AN ORDINANCE OF THE CIZ'Y OF RENTON, WASHINGTON,
FIXING THE AMOUNT, FORM, DATE, INTEREST AND RATE
OF MATURITY OF INSTALLMENT NOTE , DIRECTING THE
ISSUANCE AND SALE THEREOF UNTO THE CITY OF RENTON
FIR.EMEN'S PENSION FUND, PERTAINING TO LOCAL I
IMPROVEMENT DISTRICT N0. 271.
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. 271 as heretofore revised, approved
and confirmed by the City Council under date of �'�,��� �a, / 9 7/
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as per City of Renton Ordinance No.�Gi/� was in the sum of $54,161. 05 .
The thirty ( 30) day period for making cash payments of assessments
without interest in said District expired on April 3 , 1971, and the
total amount of assessments paid in cash was the sum of $13 , 850 . 75
leaving a balance of assessments unpaid on the assessment roll in the
sum of $40, 310 . 30 . Therefore an•. installment note in said principal
sum of $40 , 310 . 30 shall be issued to the City of Renton Firemen's
Pension Fund and said note and payment record therefore 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 . 25o per annum.
SECTION II : Said installment note shall be signed by the
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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 �,-� �L'day of
�.�c� , 1970, said installment note shall immediately be delivered
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' to said Firemen' s Pension Fund in exchange for the principal amount
of said note, together with accrued interest, at the rate of 6 . 250
per annum.
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SECTION IV: The aforesaid note and any non-interest bearing
default of installment interest cer�i.ficates 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 �eq.
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PASSED BY THE CITY COUNCIL this ���day. of April, 1971.
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HELMIE NELSON,� City Clerk i
APPROVED BY THE MAYOR this f 9�day of April, 1971.
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A�ERY GA�.�ETT, 1�'layor ' �
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Approv d as to for
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Ger�.rd M. Shella�, ,City,,:Atto�ney
DATE OF PUBLICATION �� �� �j
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CITY OF RENTON, WASHINGTON
LOCAL IMPROVEMENT DISTRICT INSTALLMENT NOTE
Exhibit A, Ordinance No. �(o ��'
Note No . 15
Date 4/19/71
TO THE CITY TREASURER :
Pay Forty thousand, three hundred ten and 30/100 $40, 310 . 30
dollars
out of Loca1 Improvement District No. 2'71 fund, either in cash,
L.I.D. Bonds or Warrants , pursuant to provisions of 1aw pertaining
thereto ,
TO THE ORDER OF City of Renton Firemen' s Pension Fund
Payments sha11 be made on the principal of this Note not less than
once each year for a period not to exceed 10 years from issue date
by the City Treasurer. This note sha11 bear interest on the unpaid
balance at .the rate of 6 .25 � per annum from the issue date until the
principal amount thereof is fu11y paid.
City C1erk
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`� /f" Mayor
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PA YMENT RECORD
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Installmentl I Znterestl Principall Balance �
Number Date Payment Payment Outstanding� Siqtted
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