HomeMy WebLinkAboutORD 2571 �r. e ' - t l
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ORDINANCE N0. ����
AN ORDINANCE OF THE CITY OF RENTON, in1ASHINGTON,
FIXING THE AMOUNT, FORM, DATE, INTEREST AND RATE
OF MATURITY OF INSTALLMENT NOTE, DIRECTING THE
ISSUANCE AND SALE THEREOF UNTO THE CITY OF RENTON
FIREMEN' S PENSION FUND, PERTAINING TO LOCAL
IMPROVEMENT DISTRICT N0. 268
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. 268 as heretofore revised, approved and con-
�irmed by the City Council under date of April 20 , 1970 as per City ,
of Renton Ordinance No. 2560 �as in the sum of $35 ,804. 91. The
thirty� ".(30 ) day period for making cash payments o� assessments without
interest in said District expired on June l , 1970 , and the total amount
of assessments paid in cash was the sum of $16 ,185 . 16 , leaving a ��
balance of assessments unpaid on the assessment roll in the sum of I
$19 ,619 . 75 . Therefore an installment note in said principal sum
of $19 ,619 . 75 shall be issued to the City of Renton Firemen` s
Pension Fund and said note and payment record therefor shall be in �
the form attached hereto labeled Exhibit "A'T 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 . 5% per annum.
SECTION II : Said installment note shall be signed by the Mayor
and attested to by the City Clerk and shall have the seal of the City
of Renton affixed thereto.
jSECTION III : In accordance with the offer of the Firemen' s
Pension Fund , duly accepted by the City Council on the f�7''h day of
I�J 6q
, q �3�8' said installment note shall immediatel be delivered
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to said Firemen' s Pension Fund in exchange for the principal. amount
of said note , toge-�her with accrued interest , at the rate of 6 . 5o per
annum.
SECTION IV : The aforesaid note and any non-interest bearing
default of installment interest certificates shall be subject to the
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same redemption privileges as applied to any Local Improvement
District bonds and warrants as provided for in RCW 35 . 54 et seq.
PASSED BY THE CITY COUNCIL this 8th day of June , 1970 .
,���/�'�:.�, J
Helmie Nelson, Cit� Clerk
APPROVED BY THE MAYOR this $th; day of June , 1970 .
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'Avery �Garret�,`"Mayor
Approv as to form: I
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G�r�d M. Shell`�.n, City Attorney III
Date of Publication � 1'� i9��' I
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CITY OF RENTON, WASHINGTON
LOCAL IMPROVEMENT DISTRICT INSTALLMENT NOTE
Exhibit "A" - Ordinance No. 2571 �
Note No . i �
Date 6/8/70
TO THE CITY TREASURER :
Pa� Nineteen thousand, six hundred nineteen and $19 ,619 . 75
75/100 dollars,
out of Loca1 Improvement District No. 268 fund, either in cash,
L.I.D. Bonds or Warrants , pursuant to provisions of 1aw pertaining
thereto ,
To TxE ORDER oF City of Renton Firemen ' s Pension Fund
Payments sha11 be made on the principal of this Note not Zess than
once each year for a period not to exceed 10 years from issue date
by the Cit� Treasurer . This note sha11 bear interest on the unpaid
balance at ._the rate of 6 . 5 � per annum from the issue date until the I
principal amount thereof is fu11y paid.
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City C1erk
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PA YMENT RECORD
Installment Interest Principal Ba.Zance
Number Date I Payment I Pagment I Outstanding� Signed
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