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ORDINANCE N0. o2�d? �
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON
FIXING THE AMOUNT, FORM, DATE, INTEREST AND RATE
OF MATURITY. OF INSTALLMENT NOTE , DIRECTING THE I
ISSUANCE AND SALE THEREOF UNTO THE CITY OF RENTON �
FIREMEN' S PENSION FUND, PERTAINING TO LOCAL
IMPROVEMENT DISTRICT N0 . 259 .
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. 259 as her.etofore revised, approved and con-
firmed by the City Council under date of October 20 , 1969 as �er
City of Renton Ordinance No. 2512 was in the sum of $29 ,031. 49 . The
thirty (30 ) day period for making cash payments of assessmerits without
interest in said District expired on N.ovember 29 , 1969 , and the total
amount of assessments paid in cash was the .sum of $5 ,502 . 33 leaving a
balance of assessments. unpaid on the assessmerit rollin the sum of
$23 , 529 . 16 . Therefore an installmerit note in said principal sum of
$23 ,529 . 16 shall be is.sued to the City of Renton Firemen' s Perision
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 �
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as if fully set forth herein , which note and payment record shall be
issued as pr.ovided for by Chapter 165 , Session Laws of 1961. Said I
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note shall bear interest at the rate of 5% per annum.
SECTION II : Said installment note shall be signed by the Mayor
and attes.ted to by the City Clerk and shall have the seal �of the City
� of Ren:ton affixed thereto.
� SECTION III: In accordance with the offer of the Firemen' s
Pension Fund, duly accepted by the City Council on the 3rd day of
June , 196"8- , said installment note shall immediately be delivered
to said Firemen' s Pension Fund in exchange .for the principal amount
of said note , together with accrued interest , at the rate of 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 Improvemerit
District bonds and warrants as provided for in RCW 35 . 54 et seq. �
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PASSED BY THE CITY COUNCIL this �J day of Dec�mber, 1969 .
Helmie Nelson, City Clerk' �
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APPROVED BY THE MAYOR this ���`""� day of Deceinber, 1969 .
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A�ry 6arr,�tt, I�ayor
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Approved as to form:
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Gerard M. Shellan, City_ Attorney
� DATE OF PUB�.fCATfOi� ���� �. �°�
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CITY OF RENTON, WASHINGTON
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_ � � LOCAL IMPROVEMENT DISTRICT INSTALLMENT NOTE
�?CEiT�IT :"A" .. aRD�NANCE N4,► 25�4
" ' Note No. 9
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- � ' Date 3�EC@IriU@� 15� 1969
TO THE CITY TREASURER: '
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� Pay �'�wenty�th�ee t�iousanr�. �ive�hundred�-�wen�Gv-nin'e $2�,52��►16
--� " � :. � ar�d 16��.�0 Dollars �; ,. .;.,
II 5 Out _o€__Local Improver..ent District Nd. 25� , fund, either iri'�cash,;, �L'.,I.D. Bonds
or Warrants pu'rsuant to provisions of .law pertaining thereto� � '
TO THE ORDER '.OF �j,ty n� Renton Fireriien's Fensior� F�nd
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Pa,yments �liall �be,.made° on the principal 'of 'this Note not less than once each year
for a period not �to exceed � �.0 years from the issue date b,y the City. Treasurer. � '
This Note shall bear ,inte�rest•on �th�;'uiip�ai`d bal'ance 'at the rate of, � % per ��
r annum ,from.:.the issu'e date .until the priricipal amount thereof; is fu,l.l.y paid. �
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