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HomeMy WebLinkAboutORD 2053W ORIGINAL ORDINANCE NO. �5.0� AN ORDINANCE OF THE CITY OF RENTON, WA SHINGTON, ORDERING THE CONSTRUCTION AND INSTALLATION OF SANITARY SEWER LINES AND APPURTENANCES ON A PORTION OF "M" STREET, ALL IN ACCORDANCE - WITH RESOLUTION NO. 1202 OF THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON; ESTABLISHING LOCAL IMPROVEMENT DISTRICT NO. 2-50, PROVIDING THE 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 BY BONDS." AND PROVIDING FOR THE ISSUANCE AND SALE OF LOCAL IMPROVEMENT DISTRICT WARRANTS REDEEMABLE IN CASH AND LOCAL IMPROVEMENT DISTRICT BONDS OR NOTES. WHEREAS by Resolution No . 1202.., adopted August 19-., 1963,, the City Council. of the City of Renton declared its fntentlon to construct and 4-1stall certala sanitary sewer lines on portions o_K- "M" Street in the Ci. -y of Renton and fixed the t6th day of September 1963.. at 8:00 P M in the City Coucic4.1 Chambers in the City Hall Renton Washington as the time and place for hearing all matters relating to said proposed improvement and all objections thereto and for determining the method of payment for said improvement; and WHEREAS Jack Wilson, the City Engineer.. has caused an estimate to be made.of the costs and expense of the proposed improvement and has certified said estimate to the City Council, togdher with all papers and information in his possession touching the proposed improvement, a description of the boundaries of the District, a statement of what. portion of the cost and expense of the improvement should be borne by the property within the proposed District, a statement in detail of the Local Improvement assessments out- standing or unpaid against the property in the proposed District, and a statement of the Accurate actual valuation of the real estate, including 25% of the actual valuation of the improvements id the proposed District, according to the valuation last placed upon it for the purpose of general taxation; and WHEREAS -said estimate is accompanied by a diagram of the proposed improvement showing thereon the lots, tracts, parcels of land, and other property which will he specially benefited by the proposed improvement, and the estimated amount of the cast 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. 1202 was given in the manner provided by law, said hearing was held by the City Council at iEs reguL%x meeting on September 16, 1963, and no written protest filed with the City,C©uracil on or before said date , and all persons appearing at said hearing having been.heard.; and., WHEREAS at said hearing, the City Council gave due consideration to the special. benefits to be received from such proposed improvement by all of the properties to be included within the proposed,l"#� 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 Local Improvement District that said proposed im'rovement as hereinafter described be carried out and that a Local Improvement District be created in connection therewith, -NOW THEREFORE BE IT ORDAINED BI THE MAYOR AND THE CITY COUNCIL OF THE ;CITY OF REUTON, I yST,,- ;d ,TO d, AS FOLLOWS : Section 1: The following sanitary sewer lines on portion of "M" Street located between 12th Avenue North and Sunset Boulevard East in the City of Renton shall be constructed and installed, to -wit: APx ROS.. PIPE SIZE M ON FROM TO '2,V' Street Sunset Blvd. East Approximately 760' South of Sunset Boulevard East There shall beincluded in the foregoing the acquisition and installation of all necessary valves, fittings, couplings, connections, equipm=ent and appurtenances; and the acquisition of any easements, rights-of-way and.land that may be required; and thete 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 �,'_ie_-e in its judgment it appears advisable, provided such modifications do not Pt"b,,-t?xn"_nl _y ,31ter the plan of said improvement. All of the foregoing shall be in ='-rc^mance with the plans and specifications therefor to be prepared by Jack Wilson, t'ne City Engineer. Section 2. There is hereby established and created a Local Improvement District to 1�e called "Local Improvement District No. 250 of the City of Penton, Washington", the boundaries of such Local Improvement District being described as follows: The North one-half of Lot 3, all of Lot 4 and the North 60 feet of Lot 5, Block 1, Sheppard Heights addition as recorded in Volume 46 of Plats, Pg. 79, Records of King County, Washington; also lots 2 through 6 and the North 65 ft. of Lot 7, Block 2, said Plat; together with the North 150 feet of the South 630 feet of the West 149 feet of the SE4 of Section 4, Twp. 23N, Range 5E W.M. Section 3: The estimated cost and expense of said improvement is hereby dec'are,2 to be $8358.00. 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 ~rolerty specially benefited by such improvement included in the local improvement district established, embracing, as .near ad may be, all property specially benefited by such improvement. -2- [l Section 4•. The nature of the improvement provided for herein is such that the special benefits conferred on the property are fairly reflected by the use of the statutory termini and gone method of assessment, and it is hereby provided and ordered that the assessment shall be made against the property of the District in accordance with said method. All property included within the limits of the Local Improvement District above created shall be considered to be the rroperty specially benefited by such Local Improvement and shall be the property to be assessed to pany the cost and expense therefor as hereinabove specified; Section 5; 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 leo. 250" to bear interest from the date thereof at a rate to be hereafter fixed but not to exceed 6% 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 6% per annum,shall be payable on or before twelve (12) years from the date of issuance, the life of the improvement ordered being not less than twelve years, and shall be isstied in exchange for and in redemption of any and all revenue warrants issued hereunder and not redeemed in cash within a period got to exceed sixty days after the first publication by the City Treasurer of notice that the assessment roll for Local Improvement District No. 250 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 ten (10) equal annual in.Gtallmonts, with interest at a rate to be fixed hereafter but not exceeding filo per annum, under the mode of J'payment by bonds", as defined by law and the ordinances of the City of Renton. In :the case of default in the payment of any assessment when the same shall become due, there sh-1,1 be added interest at a rate to be hereafter fixed but not to exceed 6% per annum and a penalty of 6% which shall also be collected. The exact form, amount, date, interest rate and denomination of said warrants and bonds, or notes in lieu thereof as provided by law, shall be hereafter fixed by ordinance of the City Council. Said warrants and bonds shall be sold in such manner as the City Council shall hereafter determine. Section 6. All the work necessary to be done in connection with the making of said improvement shall be done by.and made by contract upon competitive bids and the City shall have and reserves the right to reject any and all bids. The call for bids for work authorized pursuant to this Ordinance shall include a statement that payment -3_ for said work will be made in cash warrants drawn upon the "Local Improvement Fund, District No. 250." Section 7. There is hereby created and established in the office of the City Treasurer of the City of Renton, for Local Improvement District No. 250, a special fund to be known and designated as "Local Improvement Fund, District No. 250," 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 sha.11be issued cash warrants to 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 items of expense in connection with said improvement. Section 8. The City Engineer of the City of Renton is hereby authorized and directed to call for bids, in the manner provided by law, for the construction and installation of the improvements authorized herein. Section 9. The City reserves the right to issue, in lieu of bonds and warrant -- 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 whenever such note or notes are sold exclusively to another fund of the City as an investment thereof. Such installment note or notes may be issued any time after a thirty- (30) 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 the property owners therein, and as further provided by law. r PASSED BY THE CITY COUNCIL this 23rd day of September, 1963. % -.� kL,. j Helmie Nelson, Ci"y Clerk APPROVED BY THE MAYOR this 23rd day of September, 1963. Frank Aliment, Mayor APPROVED AS TO FORM: Gerard M. Shellan, City Attorney Date of Publication: SEP 2 5 1963 -4-