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Home My WebLink AboutORD 3221 • ' ;'^. . . r A' . . . ,y • R� � zYt • " '- . ` _ . > . � r r . , � CITY OF RENTON, WASHINGTON ORDINANCE N0. 3221 AN ORDINAPvTCE OF THE CTTY OF RENTON, �iJASHINGTON, I ORDERING THL CONSTF.UCTION AND INSTA�LATION OF UNDERGROUND POWER AND OTHER UTILITY LII�IES AND Ii"IPROVEMENTS INCIDENTAL THERETO IN TF-'E VICINITY OF MONTEREY TERRACE, RENTON, KING COUNTY, WASHINGTON ALL IN ACCORDANCE WITH RESOLUTION N0. 2170 PROVIDING � I 7'HE METHOD OF ASSESSMENT IN SAID DISTRICT; PROVIDING � THAT PAYMENT FOR SAID IMPROVEMENT BE MADE BY SPECIAL ' ASSESSMENTS UPON PROPERTY IN SAID DISTRICT, PAYABLE BY THE MODE OF "PAYMENT OF BONDS" , OR "NOTES" IN i LIEU THEREOF AS DETERM?NED BY THE CITY COUNCIL; PROVIDTNG FOR THE ISSUFT�CE AND SALE OF LOCAL IMPROVEMENT DISTRICT [ti�ARRANTS REDEEMABLE IN CASH AND LOCAL IMPROVEMENi DISTRICT BONDS OR NOTES. (LOCAL IMPROVEMENT DISTRICT N0. 309) WHEREAS by Resolution I�to. 2170 passed and approved on March 6 , 1978 the City Council of the City of Renton declared its intention to construct and install • certain underground power and other utility lines and improvements incidental thereto within certain territory in the vicinity of Monterey Terrace as hereinafter more particularly described, and fixed the 24th day of April , 1978 in the City Council Chambers in the Municipal Building, Renton, Washington, as the time and place for hearing all matters relating to said im- provements and all objections thereto and for determining the method of payment for said improvements , and WHEREAS the Director of Public Works has caused an estimate to be made of the cost and expense of the proposed improvements and has certified said estimate to the City Council, together with all papers , data, and information in his possession relating to the proposed improvement, description of the boundaries of the � District, a statement of what portion of the cost and expense should . , be borne by the properties within the proposed District, a statement � in detail of the Local Improvement assessment outstanding or unpaid against the property in the proposed District, and a statement of the aggregate actual valuation of the real estate, including 250 of the actual valuation of the improvements in the proposed District, according to the valuation last placed upon it for the purpose of , -1- r T I I •� �,�L w •' • � . - . �. o� ,'k ' . � p, general taxation; and WHEREAS said estimate is accompanied by a diagram of the proposed improvement showing thereon the lots , tracts , parcels I of land, and other property which will be specially benefited by I the proposed improvelnent, and the estimated amount of the cost , and expense thereof to be borne by each lot, tract and parcel of land or other property within said District; and WHEREAS due notice of the hearing upon said Resolution No. 2170 was given in the manner provided by law, and said hearing was duly held by the City Council at its regular meeting on April 24, �I 1978 at the hour of 8 : 00 P.M. and the following protests having been filed and duly considered, to-wit: Name of Protestant Address W. A. Wh�,te 81 Monterey Drive N.E. Fritz P. Rivera 157 Monterey Drive N.E. Oliver Knutson 169 Monterey Drive N.E. Royal Loomis 153 Capri Ave. N.E. M. E. Jay 147 Capri Ave. N.E. Mrs. William Donnelly 123 Capri Ave. N.E. Richard J. Decample 111 Capri Ave. N.E. Eugene Veness 89 Monterey Place N.E. Reginald Goldsmith 83 Monterey Place N.E. Harold C. Lee 77 Monterey Place N.E. Merlin. Martin 110 Capri Ave. N.E. Robert L. Connell 129 Capri Ave. N.E. and said total protests not exceeding lg percent of the total cost bearing owners within said District ; and WHEREAS at said hearing the City Council has given due consideration to the special benefits to be received from such proposed improvement by all of the properties to be included within the proposed Local Improvement District; and WHEREAS the City Council deems it in the best interest , of the City and of the owners of the property within the proposed Loca1 Improvement District that said improvement as hereinafter described: .be carried out, and that a Local Improvement District _2_ '� ;� , . � i . � .. , ,. ' , ' r • . , . . � be created in connection therewith; NOW THEREFORE THE CITY COUNCIL OP THE CITY OF RENTON, WASHINGTON, DO ORDAIN AS FOLLOWS : SECTION I: The following underground power and other utility lines and improvements incidental thereto shall be constructed and installed in the vicinity of Monterey Terrace, Renton, King County, Washington, as more particularly described hereinbelow, to-wit : Consist of converting all existing overhead electrical and communication facilities to an izndergro�and location in accordance with Ordinance No. 2432 and as amended in Ordinance No. 2496 . The improvements shall include new street lighting. and there shall be included in the foregoing the acquisition and installation of all necessary conduits, dau].ts, junction boxes, fittings, couplings, connection equipment and appurtenances , toge-ther with the acquisition of any easements , rights of way and land that may � be required; and there shall be included the performance of such work as may be incidental and necessary to the foregoing construction � and installation. The City Council may modify the details of the foregoing described improvement where, in its judgment, it appears advisable, provided such modifications do not substantially alter the plan of said improvement. All of the foregoing shall be in accordance with the plans and specifications therefor to be prepared by Puget Sound. Power and Light Company, Pacific Northwest Bell Telephone Co. and as approved by the Director of Public Works. -3- ' � L � , •. �. ' • I ' �' . , • . SECTTON II: There is hereby established and created a Local Improvement District to be called "Local Improvement District , No. 309 of the City of Renton, Washington" , the boundaries of such , Local Improvement District being described as follows : Block l, Lots 1 through 17, inclusive,. Block 2 , Lots 1 through 18, inclusive, all of Monterey Terrace Addition as recorded in Volume 50 of Plats, Page 36 , records of King County, Washington. As situated within the NE 1/4 of Section 17, Township 23N, Range 5E, WM. SECTION I"II: The estimated cost and expense of said improvement is hereby declared to be approximately $ 61,459.10 The entire cost and expense of said improvement, including the cost and expense of all engineering, legal, inspection, advertising, publication of notices and other expenses incidental thereto, shall be borne by and assessed against the property specially benefited by such improvement included in the Local Improvement District No. 309 established, embracing, as near as may be, all property specially benefited by such improvement. SECTION IV: The nature of the improvement provided for herein is such that the special benefits conferred upon the property are fairly reflected by the use of the equal pro-rata share mode of assessment, and it is hereby provided and ordered that the assess- ment shall be made against the property of the District in accordance with said methods. All property included within the limits of the Local Improvement District above created shall be considered to be the property specially benefited by such Local Improvement and shall be the property to be assessed to pay the cost and expense �I thereof as hereinabove specified. -4- • a�, . . � . � . , . ' , � � - ' . � , . . , SECTION V: Local Improvement District warrants shall be issued in payment of the cost and expense of the improvement herein ordered. Such warrants shall be payable out of said "Local Improvement Fund, District No. 309" , to bear interest from the date thereof at a rate to be fixed hereafter, but not to exceed 9 0 per annum and to be redeemed in cash, and/or by Local Improvement District bonds herein authorized to be issued, said interest-bearing warrants to be hereafter referred to as "revenue warrants" . Such bonds shall bear interest at a rate to be hereafter fixed but not exceeding g o per annum; shall be payable on or before 12 years from the date of issuance, the life of the improvement ordered being not less than 12 years and shall be issued in exchange for :.and in�redemption of any and all revenue warrants issued hereunder and not redeemed in cash within a period not to exceed sixty days after the first publication by the Director of Finance of notice that the assessment roll for Local Improvement District No. 309 is in her hands for collection. The bonds shall be redeemed by the collection of special assessments to be levied and assessed upon the property within said District, payable in lp equal installments , with interest at a rate to be fixed hereafter but not exceeding g o per annum, and a penalty of l0o which shall also be collected. The exact form, amount, date, interest rate and denomination of said warrants and bonds shall be hereafter fixed by Ordinance of the City Council. SECTION VI: All the work necessary to be done in connection with the making of said improvements shall be done by contra�ct agree- men�t-.witn ,P�uget_ Soun.d -Power ,`and -Light :-Company and Pacific Northwes�t Bell -'�elephone Gompany_. The ;contract agreements 'autYiorized pursuant to this .Ordinanae.- shal.l include- a =statement that :payment for =said work w.ill be ma.de:_iri_ �cash•-war�ants drawn-'upon. ,the ..",�Local Improvement Fund; D,is.triet:._:N.o.. :309." . ..� _ - , � �, , � � -5- . �• , . . I � � � ,. � . _ . � . � . . , , . SECTION VII : There is hereby created and established in the Finance Director' s Office of the City of Renton, for Local Improvement District No. 309 , a special fund to be known and designated as "Local Improvement Fund, District No. 309" , into which fund shall be deposited the proceeds from the sale of revenue warrants drawn against said fund which may be issued and sold by the City and collections pertaining to assessment, and against which fund shall be issued cash warrants for the contractor or contractors in payment for the work to be done by them in connection with said improvement, and against which fund cash warrants shall be issued in payment of all other ztems of expense in connection with said improvement. SECTION VIII : The Public Works Director is hereby authorized and directed to acquire contract. .agreements ;� in the manrier -pr;.ovided by law, :for the constru.ction -arid. installation of the :impro.vements � authorized herein.o SECTION IX: The City reserves the right to issue, in lieu of bonds and warrants in payment of the cost and expense of the aforesaid Local Improvement District, installment note or notes payable out of the Local Improvement District Fund, pursuant to RCW 35 . 45. 150, whenev.er such note or notes are sold exclusively to another fund of the City as an investment thereof, and as further provided by law. Such installment note or notes may be issued any time after a thirty-day period allowed by law for the payment of assessments of said District without penalty or interest, and such note or notes may be of any denomination or denominations, the aggregate of which shall represent the balance of the cost and expense of the Local Improvement District which is to be borne by �I -6- I . , � �i � � � ' • � I .. . . , 1 I.r �� • ` ' the property owners therein, and as further provided by law. PASSED BY THE CITY COUNCIL this 8th day of May, 1978 , � � _ _� � i�I,.ei� Delores A. �'Iead; City�Clerk APPROVED BY THE MAYOR this 8th day of May, 1978 . ��,� G=- -� �� ` �harles/J/. 15elaurenti, Mayor � Approved as to form: ��'I-" "G"'`',�'"� 1 . Lawrence J. War�en, City Attorney Date of Publication: May 12 , 1978 0�_