HomeMy WebLinkAbout387RESOLUTION NO. 2 f1
A RESOLUTION of the Council of the City of Kent,
Washington, creating a Construction Fund for
Local Improvement D~rict No. 237 of the city
for the purpose of paying all of the costs of
the improvements to be constructed and in-
stalled in said local improvement district,
including all costs incidental thereto.
WHEREAS, by proceedings duly and ~egularly taken and by
Ordinance No. 959, passed and approved September 3, 1957, Local
Improvement District No. 237 of the city was created and the con-
struction and installation of certain improvements therein was
authorized; and
WHEREAS, construction and installation of said improvements
has been started after bids were called and contracts let therefor
in the manner required by law; and
vmEREAS, said Ordinance No. 959 provided that bonds of such
local improvement district payable out of special assessments to be
levied upon the property within the district specially benefited by
the construction and installation of such improvements would be issued
to provide funds to redeem the warrants of the district issued on
Local Improvement District No. 237 Fund created by said Ordinance
No. 959, to pay the cost of such improvements and all expenses in-
cidental thereto; and
WHEREAS, said warrants and bonds will soon be sold by the
city at either public or private sale; and
WHEREAS, it is necessary that the money received by the city
from the sale of said warrants be placed in a special construction fund
and used to pay the cost of said improvements and incidental expenses,
and it is necessary that such special fund be now created for said
purpose;
NOW, THEREFORE, BE IT RESOLVED by the Council of the City
of Kent, Washington, as follows:
That there be and is hereby created a special fund of the
city to be known as 11 Local Improvement District No. 237 Construction
Fund." All moneys received from the sale of warrants drawn on Local
Improvement District No. 237 Fund, created by Ordinance No. 959 of the
city, shall be placed in said Construction Fund and shall be used
solely for the purpose of paying the costs of construction and in-
stallation of the improvements authorized for such Local Improvement
District No. 237 of the city by said Ordinance No. 959, including all
costs incidental thereto.
PASSED by the Council of the City of Kent, Washington, and
approved by its Mayor at a regular meeting of said Council held this
18th day of November, 1957.
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