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HomeMy WebLinkAbout2184ORDINANCE NO.y;' AN ORDINANCE of the City of Kent, i Wasington, ordering the improvement of a portion of King County by the installation of a 10 inch sanitary sewer together with necessary appurtenances on 104th Place SE from SE 224th to a point approximately 450 feet north of SE 222nd Street, all in ac- cordance with Resolution 875 of the City Council; establishing Local Improvement District No. 295; providing for payment for the costs of the improvement be made by special assessments upon the property in the District, payable by the mode of payment by bonds" or "note in lieu of lieu of bonds"; and providing for the is- suance of and sale of Local Improvement District warrants redeemable in cash and Local Improvement District Bonds or Note in Lieu of Bonds. WHEREAS by Resolution 875 adopted July 2, 1979, the I City Council declared its intention to order the improvement of a t portion of King County by the installation of a 10 inch sanitary sewer together with necessary appurtenances on 104th Place SE from, f SE 224th to a point approximately 450 feet north of SE 222nd Street and fixed August 6, 1979 at 8 o'clock p.m. in the Council Chambersf in the City Hall as the time and place for hearing all matters relating to the proposed improvement and all obligations thereto E and for determining the method of payment for the improvement; and` WHEREAS the City Engineer of the City of Kent caused an estimate to be made of the cost and expense of the proposed improvement and certified that estimate to the City Council, to- gether with all papers and information in his possession touching the proposed improvement, a description of the boundaries of the District, a statement of what portion of the cost and expense of the improvement should be borne by the property within the pro- posed District, a statement in detail of the local improvement assessment outstanding or unpaid against the property in the pro- posed District, according to the valuation last placed upon it for the purpose of general taxation; and WHEREAS that estimate is accompanied by the diagram of the proposed improvement showing thereon the lots, tracts, par- cels of land, and other property which will be specially benefited i by the proposed improvement, and the estimated amount of the cost and expense thereof to be borne by each lot, tract, and parcel of land or other property; and WHEREAS due notice of the above hearing was given in the manner provided by law, and the hearing was held by the City Council on August 6, 1979 and continued to September 4, 1979, and all persons present having been heard, and written protests having; been received, duly noted and entered into the record of the pro- ceeding; and j WHEREAS the City Council has determined it to be in the public interest that the improvement as hereinafter described be carried out and that a local improvement district be created in connection therewith, NOW, THEREFORE THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO ORDAIN AS FOLLOWS: Section 1. The City Council of the City of Kent, Washington, hereby orders the improvement of a portion of the City by the improving and widening of a certain street therein as more fully described in Exhibit "B" attached hereto and by this refer- ence made a part hereof. All of the foregoing shall be in accordance with the plans and specifications therefore prepared by the City's Consul- ting Engineer. The City reserves the right to make changes in such improvement as long as such changes do not materially affect the purpose of the improvement. Section 2. There is hereby created and established a local improvement district to be called "Local Improvement Dis- trict No. 295 of the City of Kent, Washington", which district is described in Exhibit "A" attached hereto and by this reference made a part hereof. Section 3. The total estimated cost and expense of that improvement is hereby declared to be One Hundred Five Thou- sand, Four Hundred Thirty -Six ($105,436.00) Dollars which shall be borne by and assessed against the property specially benefited by the improvement to be included in the local improvement district - 2 - it embracing as near as may be all property special 11 to be establishedg Y ii Ily benefited by the improvement. j i; Section 4. In accordance with the provisions of RCW X35.44.047, the City may use any method or combination of methods to compute assessments which may be deemed to fairly reflect the special benefits to the properties being assessed. Section 5. Local improvement district warrants shall i,lbe issued in payment of the cost and expense of the improvements !herein ordered to be assessed, such warrants to be payable out of the "Local Improvement Funds, District No. 295", hereinafter cre- iated and referred to as the "Local Improvement Fund", to bear in- jterest from the date thereof at a rate to be hereafter fixed by ;ordinance not to exceed 8% per annum and to be redeemed in cash, !land/or by local improvement district bonds, or note in lieu of Ilbonds, herein authorized to be issued, such interest-bearing war- Irants to be hereafter referred to as "Revenue Warrants." The City 'is authorized to issue local improvement district bonds or note in lieu of bonds for the District which shall bear interest ar a rate to be hereafter fixed by ordinance, shall be payable on or before I�twelve (12) years from the date of issuance, the life of the im- lprovement ordered being not less than the term of the bonds, and i�shall be issued in exchange for and in redemption of any and all 'revenue warrants issued hereunder and not redeemed in cash with- in a period of not to exceed sixty (60) days after the first pub- :llication by the Supervisor of Treasury Accounting of notice that Ithe assessment roll for Local Improvement District No. 295 is in her hand for collection. The bonds or note in lieu of bonds shall be redeemed by the collection of special assessment to be levied 'and assessed against the property within the District, payable in ten (10) equal installments, with interest at a rate to be here- after fixed by ordinance, not exceeding 8 1/2% per annum, under the mode of "payment of bonds", or "note in lieu of bonds", as defined by law and the ordinances of the City. In the case of default in payment of any assessment when the same shall become due, there shall be added interest at a rate to be hereafter fixed by ordinance not to exceed 8 1/2% per annum and a penalty of 6% which shall also be collected. The exact form, amount, date in- terest rate and denominations of the revenue warrants and local improvement district bonds shall be hereafter fixed by ordinance of the City Council. The warrants and bonds shall be sold in such - 3 - manner as the City Council shall hereafter determine. Section 6. All work necessary to be done in connec- tion with the making of the improvement shall be done by and made by contract upon competitive bids and the City shall have and re- serves the right to reject any and all bids. The call for bids fo work authorized pursuant to this Ordinance shall include a state- ment that payment for the work will be made in cash warrants drawn upon the Local Improvement Fund. Section 7. There is hereby created and established is the office of the Supervisor of Treasury Accounting of the City of Kent, for the District, a special fund heretofore designated and referred to as the Local Improvement Fund, District No. 295, into which fund shall be deposited the proceeds from the sale of reve- nue warrants drawn against the fund which may be issued and sold by the City, and collections pertaining to assessments, and against which fund shall be issued cash warrants to the contractor or contractors in payment for the work to be done by them in con- nection with the improvement, and against which fund cash warrants shall be issued in payment of all other items of expense in con- nection with the improvement. Section 8. This Ordinance shall take effect and be in force five (5) days from and after its passage, approval and publication as provided by law. ATTEST: al BETTY GRAY, DEPUTY CITY CLERK ROVED AS TO FORM: . MIRK; CITY ATTORNEY _i--1 ISABEL HOGAN,,YOR - 4 - PASSED the day of September, 1979. APPROVED the day of September, 1979. PUBLISHED the -7/,a� day of September, 1979. I hereby certify that this is a true copy of Ordinanc No. 21,?l , passed by the City Council of the City of Kent, Washington, and approved by the Mayor of the City of Kent as here- on indicated. �6� (SEAL) l&& r BETTY GRAY, DEPUTY CITY CLERK - 5 - EXHIBIT "A" LEGAL DESCRIPTION The West half of the West half of the Southeast quarter of the Southwest quarter of Section 8, Township 22, Range 5 East, W.M., in King County, Washington EXCEPT the South 150.00 feet thereof. EXHIBIT "B" L.I.D. #295 104th Place Sanitary Sewer 224th Street to 450' North of 222nd Street LEGAL DESCRIPTION See Exhibit "A" attached and made partsthereof. SANITARY SEWER SIZE ON FROM 10" 104th Place 224th Street Total Project Cost: $105,436.00 L.I.D. Share: $105,436.00 Hearing Date on Preliminary Assessment Rold: August 6, 1979 TO 450' North of 222nd Street