HomeMy WebLinkAboutORD 1011 � �
.
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(improvement Oi�dinauce Bond Forrn}
ORDINANGE NO._.___1011
AN ORDINANCE PROVIDING FOR THE IMPROVEMENT OF
tiJFiIT'�VO'�T� ST�E�T between FIFT:-I �VENU-L and SIXTi� AUENUE
(i tYs�7i��T� ��3C���8�) bY (��'�E�X�#alE�����
the const�u.ction of water main
�11 iu accordance with Resolution No..519......_. of the City Couucil of the City of Renton, creating a local �
improvement distriet therefor, and providing that payment for said iml�roveuient be inade by speciai
assessments upon �ro�erty in said district payable by the mode ot "Payment by Bonds."
THE CITY COUNCIL OF THE GITY OF RENTON Dq�S ORDAIN AS b'OLLO��'S:
section t: �rt�ac �:"r.it���orth �tr�et �etr��a.i Fi�th t�ve.Zue �na �i�tn ��venue
I ia�3�>93X�.��1J�PS��X4��]i�Q�����Y��i� be impt•oced by IX��C�XTRJX�i�S�:�Sl7CY,:�O7����f:X)
construction of vva.ter m� in
�ind tiiat such other «•orl: be done as may be necessary in conuection there�eitl., according� t.c the plans and
speciiications tlierefor prepared under the direction of the City Engineer �nd oii file iu the office of the City
Clerk.
' Section 2: That the cost aiid exnense of said improveiz7enl:, inclitding all necessary and incident«l
expei�ses, shall be borne by and assessed against the property inciuded in tiie a3sessment district herein-
after created in accordance with ]aw. The City of Renton sha11 not be liable �n any manner for an�- por-
tion of the cost and expeuse of said improvement, exceL�t as herein provided.
(insert appropriate proviso for contribtttion from the General Fnnd if �i:�j
� Section 3: '1'h2t there is hereby established a, local iinpro�-ement district to be called "T.ocai Im-
provement District �To._19�______," which said district is described as follo��-s:
�`All tlie property bet�veen the termini of said iinproveinent abutting upon, adjacent, vacinal oi•
proximate to such portion of said streets and avenues to a distance bacli froin the marginal lines thereof, as
provided by law."
Section 4: Bonds Uearing iuterest at the rate of.__._.._.6...__ per ceut. per annum payable ou or before
____.._7________..____years from the date of issuance shall be issued in payment of the c.ost and expense of this
improvemeut, which bonds shall be redeemed by the collection of special assessments to be levied anc�
assessed upon the property within said district, payable in.._.5.__._...__equal annual installments with interest at
the rate of___.6_____________per cent. per anuum under the mode of "Payment by Iionds," as defined by law and
the chaiter and oi°dinances of the City of Renton. These bonds shall be deliveted to the contractor in
redemption of �earrauts on the Local Ilnprovement District Fund issued on estimates of the City Engineer.
or the City of Renton inay, at its election, sell said bonds and make such redemption in cash.
Section 5: This ordinance shall be in full force and ettect iive (�i) c�acs from and after its passage,
approva.l aud legal ��ublication.
:appPO�'0d L11iS ...---. l�Q.-_.__ (I:ly OY._----cTcLY1.i1L'.��Y � .9
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l7ayot.
Passed thi� -- �i d.- -.._.. day of .._...... __°�Tzs��u.Y'��- � 19'�9-- -•
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City �Clerk.
Date of hrst publication______.._`T�nU�r ��h �.9�8.
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