HomeMy WebLinkAboutORD 2529 �. � 1
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ORDINANCE NO.� .� ��g
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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 THEREOF UNTO THE CITY OF RENTON
FIREMEN' S PENSION FUND, PERTAINING .TO LOCAL
IMPROVEMENT DISTRICT N0. 261.
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 . 261 as heretofore revised,
approved and confirmed by the City Council under. date of
October 27 , 1969 as per City of Renton Ordinance No. ��/�
was in the sum of $131,725 .18 . The thirty ( 30) day period
for making cash payments of assessments without interest in
said Dzstrict expired on December 7, .1969 , and the total amount !i
of assessments paid in cash was the sum of $32 ,703 . 22 leaving a I
balance a�� assessments unpaid on the assessment roll in the sum of
$99 ,021. 96 . Therefore an installment note in said principal sum of
$99 , 021. 96 shall be iss.ued to the City of Renton Firemen' s Pension
Fund and said note and payment record therefor shall be in the
form attached hereto , label.ed Exhibit "A11 and made a part of this
Ordinance as if, fully set, forth herein, which note and payment
record shall be issued as provided by Chapter 165 , Session Laws
of 1961. Said note shall bear interest at the rate of 5 3/40
per annum.
SECTION II : Said installment note shall be signed by the
Mayor and attested to by the City Clerk and shall have the seal
of the City of Renton affixed thereto.
SECTION III: In accordance with the offer of the Firemen' s
Pension Fund, duly accep.ted by the City Council on the „�i� day of
��� 1969, said installment note shall immediately be
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' delivered to said Firemen' s Pension Fund in exchange for the
principal amount of said note, to.gether with .acc.rued interest,
at the rate of 5 3/4o per annu.m.
SECTIO�t :IV: The aforesaid note and any non-interest bearing
default of installment interest cert,ificates shall be subject. to
the same .redemption privi.leges as applied to any Local Impr.o.vement
District bonds and warrants as pr.ovided for in R. C.W.. 35 . 54 .et seq.
PASSED BY THE CITY COUNCIL this�a�day of December, 1969 .
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Helmie Nel.son, City Cl�r7c
APPROVED BY. THE MAYOR th.is �v2,�day of .Decerriber, 1969 .
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Approved as to f�rm:
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Gerar'd M. Shellan, City Attorney
AATE OF PUBLICA110N p�� 2 4 �a;g �
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CITY OF RENTON, WASHINGTON
LOCAL IMPROVEMENT DISTRICT-INSTALLMENT NOTE
EXHIBIT A - ORDINANCE NO. 2529
Note No. 10
Date 7-2/22/69
TO THE CITY TREASURER:
Pay Ninety-nine thousand twenty one and 96/100 dolla$s $99,021.96 '
Out of Local Improvenent District No. 26 1 fund, either in cash, L.I.D. Bonds
or Warrants pursuant to provisions of law pertaining thereto-
TO THE ORDER OF City of Renton Firemen�s Pension Fund
Payments shall be made on the principal of this Note not less than once each y`ear
for a period not to exceed 10 years from the issue date b,y ti=�e'�City Tr•easurer.
This Note shall bear interest on the unpaid balance at the rate of 5•!`� % per
annum from the issue date until the principal amount thereof is f-�-�.1y paic�.'.
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- Cicy �1erk �I
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� Mayor
PAYMENT RECORD
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