HomeMy WebLinkAboutORD 0442 �1 � � •y .
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(Iniprovement Ordinarice Bond For�u.)
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ORDINANCE N0. ___;r___�_.'�""""
�\T QKDI\�\CE PRO��IDI�G FOR 7'HE I:�IPRO�rE1IF.\T OP
Fourth Avenue ?�Torth, in the City of Renton, ?pashington, from Mills
Street t� the city limite,by grading and gravelling the said
portion of said Fourth Avenue fram said Mi13s street tc said
city lir�it�
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all in accorclauce �vith Resolntion \o. _.___.___.__. of the ('ity C'oui�cil oj- Yhc Cit�- oY lientoii, ere�tiu,>� a l��cai
�improve�nent district therefor, and provicling that payment for Said improvement be n��de 1»� sZ�ecial ��ssess-
ments upon propertyr in said di�trict pa�able bp the mode of `'Payn.ent by Bonds."
TfIE� Cl'1'Y COZ'\CIL OF' '1'I3� CI7'�' OF RENTO\ DOES O�Pll�I\� �S FOLI,�)l�'�:
Sect�o�� 1: �rn:,t Fourth Avenue North, in the city of Renton,�a�hington
b�x�x��>, _
from Mill.� street to the city li�its on the east be improved bJ
grading and gravelling the said portion of Fourth Avenue fro�
said Mil�.s street to said efty limits.
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ai�d thzit such other worlc be done as �nay be necessary in coiinectio�i therewith, accordin; to the plans anel
spe�cifications tlierefor prepared under the direction of the City Enaineer and on file in the office of the Cit3�
Clerk.
Section 2: '1"hat the cost and expense of said im��roveznent, �nclnding all necessary and incidental es-
penses, shall be borne �y ancl assessed against the property included in the assessment distriet hereinafter
created in accordance with la�v. The C� of Renton shall not be liable in ar�1- 3nanuer for any pol��tioii of thc
cost ancl expense of said iu�provement, ��i�s����A�1X
l��t���n�a��m�r�s�c;for.�r��.�l�omd�c�a�c�e�cc�,�s��c��c�'�����cx xxxx xxx
Section 3: Th°t here is hereby established a local in�proz,einent clistrict to be called "Local Imp��o��e-
u�ent District 1Vo. ��._.___," which said district is de�cribeci as follows:
"�11 the prope ty betwe�n the termini of said improvement abntting� npon, adjacent, vicinal or proYi-
mate to snch portion of saicl streets and avenues to a distance back froin the mar,�inal lines thereof, as pro-
eided by law."
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Section 4: Bonds bearina interest at the rate of seV�n_ lier cc�nt. pi�r �nmuii pay�ble on or before
._____.f iv�___ years from the date of issuance shall be iseued in payment of the cost ana e�pense of this
iniprovem �� ' bo�ids shall be redeemed by the coilection o�special assessments to be levied and assesse�l
� upon the ithin said district, payable in _��r�E______ equal annnal install�rients �vith interest �at the
rate of��___7_______. per cent. per annum under the �node of "Payment by I3onds," as defined by la�v and the
charter and ordinances of the City of Renton. These bonds shall be delivered to the contractor in redemption
of ���arrants on� the Local Improvement District Fund issued on estimates of t}�e City E�nbineer, or the Cit3r
of R�entoi� may, at its election, sell s�id bonds and 1nal�e such redemption in casli.
Section �: This orc�inance shall be in full force ancl effert five (�) d�3-s from and after its passage,
<ipproval and legal publication„
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�Apro��ed this - ��.-�_--- ���----- day of .- - --�� �---�- {-:`-.. - > 191_�_.
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lZayor.
Yassecl this --��.�.:,�..._ day of --- --- ----------- ---- ----,---� 1�1--�--•
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✓��,, rs��-,. �c�_��.-�_`�,�~> �
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City Clerk.
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D�te of first pnblication�...-.--•--.--- :-- •----------.�•---�-l