HomeMy WebLinkAboutORD 0598 .. • ,
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(Tmprovemeut Ordinance Bond Form}
ORDINANGE NO.----------------------------
AN ORDINANCE PROVIDING FOR TI3E I17PROVEI�4ENT OF S=C�@ 7•1`-,�. '�ii Ci1 �•ii@
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iinsert streets or portions thereof to be i�nproved) by (s�ecifying natttre of improvemetlt)
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�:11 in a�ecordance �vith Hesolution :�o.__�..__..__.._. of the City Council of the City of Renton, creating a local �
improvement district therefor, and providing that payment foi said im�3rovement be made by special
a5sessments upou �roperty in said district payable by the mode oP "Paymeut by Bonds."
THE CITY COtiNCIL OF THE CITY OF RENTON DOES ORDAIN ?,S FOLLO�'�'S:
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(insert streets or poi�tions thereof to be improved) be impi•oved by (epecif3-ing nature of improvement)
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and that such other wot�k be done as may be necessary in connection there�vitl�, accorciing to the plans and
specifications therefor prepared und,er the direction of the City �'ugineer and on file in the office of the City
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Section 2: That the cost and expense of said improvement, including all necessai•y and incideutal
expenses, shall be borxle by and assessed against the property inclu<1ed in the assessiuent district herein-
afCer created izi accordance with la«*. The City of Renton shall not be liable in aiiy manner for any �or-
tion of the cost and expense oi said improvement, e���'.�—��s�I�er.�iii:`�irnv`i�c�>
(insert appropriate proviso for contribution from the Geueral Fund if any) �
Section 3: That there is hereby established a local impro�-ernent district to be called "Local Im-
provement District No..�_Z_Z___.," �vhich said district is described as follo�x;s:
`All the property between the tsrmini of said improvement abutting upon, adjacent, vacinal or
l�roximate to such poi�tion of said streets and avenues to a dist��nce bac1= fi�om ttie marginal lines thereof, as
provided by la�v."
Section 4: Bonds bearing interest at the rate of-__._._..�__._. ner cent. per annuiu pa�aUle on or Lefoi•e i
_... _ _ ._'7._ __.______y�ears froin the date of �ssuanc2 sl�all Ue issued iu payment of the cost and expense of this
iuiprocement, �vhich bonds sha11 be redeemed by tPie coliection of special assessn�ents to be levied anct I�I
assessed upcn the property within said district, payable :n-_.__-_�_.._._...equal annual installments with iuterest a�i !I
tt.e rate of_..._.__�%._____._.per cent. per anuum uuder the mode of "Payment by I�ands," as defined Uy law and �
the charter and orditiances of the City of Renton. These bonds shall be delivei�ed to the contractor i�� ��
reclem�tioii of warrailts on the Local Improvement D;strict ��`und issued on estimates of the City Engineer,
oi• tlie City of Reuton may, at its election, sell said bonds aiid r,7al:e such redemption in casi�. �
Section 5: 'I21is ordinauce shall be in full foi•ce s,nd effect iive (51 d�i;�s froiu and after its l�assa,e,
upZ,ro�*;1 ancl legal ,�ubYication.
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