HomeMy WebLinkAboutORD 2682 S
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ORDINANCE N0 . �_oZ
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON,
FIXING THE AMOUNT, FORM, DATE , INTEREST AND RATE
OF MATURITY OF INSTALLMENT NOTE, DIRECTING THE
ISSUANCE AND SALE THEREO�' UNTO THE CITY QF RENTON
FIREMEN 'S PENSION FUND, PERTAINING TO LOCAL
IMPROVEMENT DISTRICT N0 . 269
THE CITY COUNCIL OF THE CITY OF RENTON DO ORDAIN AS FOLLOWS :
SECTION I : That the total amount of the assessment roll of Local
Improvement District No. 269 ,r�:.�pp�oved�arid �confirmed by the City Council
under date of September 27 , 1971 as per City of Renton Ordinance
No. 2663 was in the sum of $85 ,667 . 84. The thirty ( 30) day period
for making �sh payments of assessments without interest in said
District expired on November 13 , 1971, and the total amount of
assessments paid in cash was the sum of $9 ,529 . 40 , leaving a balance
of assessments un�d on the assessment roll in the sum of $76 .138 . 44 .
Therefore an i.nstallment note in said principal sum of $76 ,138 .44
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" and made a part of this Ordinance as if
fully set for-th 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 . 75 o 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 Cit of Renton affixed thereto.
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SECTION III: In accordance with the offer of the Firemen ' s
Pension Fund, duly accegted by the City Council on the 8th day of
June , �g'70 , said installment note shall immediately be
delivered to said Firemen' s Pension Fund i.n� exchange for the principal
amount of said note, together with accrued interest, at the rate of
, 6 . 75 % per annum.
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SECTION IV: The afaresaid note and any non-in�erest
beari.ng default of installment i.ntere�t certi.ficate shall be subject to the
sam.e redemption privileges as applied to any Local Improvement District
bonds and warrants as provided �or i.n RCW 35 . 54 et seq.
PASSED BY THE CITY COUNCIL this 6th day o� December 1971.
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Gv�e n;�'��rsh�l�l-,"` ���.��y'=City Clerk
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APPRO�ED BY THE MAYOR �his 6th day of Decernbex', 1971.
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Avery Ga e�, Mayor
Ap" roved a� to �orm: i
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G�ra d M. Shellan, C�ty A�tarney
Date f Publica'tion �'�� 1�'�
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"Exhibit A" Ordinance 2682
CITY O1� RENTON, WASXIIYGTON I
LO:CAL IMPROVEII£NT i32STRICT INSTALLMENT NO'TE
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Note No. � ti
�, Date 12/6/71
'L''O THE C�'TY TREASURER :
Pay Seventv six thousand, one h�undred thi�cty ,eight � 76 ,138 .44
and 44/100 doll�rs �
out of Loca1 Improvement District IJo, 26g � fund, either in cash ,
L.I.D. Bonds or Warrants , pursuant to provisi'lons of 1aw �ertaining
thereto ,
T�O THE ORDER OF �tv �f �� Firemen' s Pension Fund
Payments sha11 be made on the principal of this Note not less than
orice each year for a period not to exceed 12 years £rom issue date
by the City Treasurer . This note sha11 bear interest on the unpafd
balance at .�he rate of 6 . 75 � per annum from the issue date until the �
pri�-c�ipal amount th.ereof is fu11� paid. I
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��� Deputy Ci ty CIei�7rc
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j ' r Mayor
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PA YMENT RECORD
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Installmen_tl � Interestl Principalf Balanee
�um8er ( bate Payment Payment_ + Outsltanding� Siqned
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