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ORD 87-02 IMPROVEMENT OF MADISON AVENUE FROM WYATTCITY OF WINSLOW, WASHINGTON ORDINANCE NO. 87-02 AN ORDINANCE ordering the improvement of Madison Avenue from Wyatt Way to Winslow Way in the City of Winslow by constructing standard curbs and gutters on the east side of Madison Avenue, paving the street; installing waterlines and fire hydrants, installing a sidewalk, bike lane, sanitary and storm drainage and streetlights; providing traffic control devices and relocation of utilities, landscaping, all grading and base preparation and related work necessary to make a complete improvement in accordance with city stan- dards pursuant to property owners' petition therefor; establishing Local Improvement District No. 10 and ordering the carrying out of the proposed improve- ment; providing that payment for the improvement be made in part by special assessments upon the property in the District, payable by the mode of "payment by bonds"; and providing for the issuance and sale of local improvement district warrants redeemable in cash or other short-term financing and local improve- ment district bonds. W}IEREAS, a petition for the creation of a local improvement district to provide for the improvement of Madison Avenue from Wyatt Way to Winslow Way in the City of Winslow by constructing standard curbs and gutters on the east side of Madison Avenue; paving the street; installing waterlines and fire hydrants; installing a sidewalk, bike lane, sanitary and storm drainage and streetlights; providing traffic control devices and reloca- tion of utilities, landscaping, all grading and base preparation and related work necessary to make a complete improvement in accordance with city standards, a portion of the cost thereof to be borne by the property included in the local improvement district and specially benefited by those improvements, was filed with the City Clerk-Treasurer; and WHEREAS, the consulting engineer of the City has caused an estimate to be made of the cost and expense of the proposed improvement and certified that estimate to the City Council, together with all papers and information in his possession touching the proposed improvement, a description of the bounda- ries of the proposed local improvement district and a statement of what portion of the cost and expense of the improvements should be borne by the property within the proposed improvement district; and WHEREAS, that estimate is accompanied by a diagram of the proposed improvement showing thereon the lots, tracts, parcels of land and other property which will be specially benefited by the proposed improvement and the estimated cost and expense thereof to be borne by each lot, teach and parcel of land or other property; and WHEREAS, the City Council, by Resolution No. 87-02 adopted January 8, 1987, fixed February 5, 1987, 7:00 p.m., local time, in the Council Chambers of the City Hall as the time and place for hearing all matters relating to Lhe proposed improvement and all objections thereho and for determ~x~ing tile method of payment for the improvements; and WHEREAS, due notice of the above hearing was given in the manner provided by such Resolution No. 8'1-02, and the hearing was held by the City Council on the date and at the time above mentioned, and all persons appearing at such hearing and wishing to be heard were heard and all objections were considered by the City Council; and WHEREAS, the City Council has determined it to be in the best interests of the City 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 WINSLOW, WASHINGTON, DO ORDAIN, as follows: Section 1. The consulting engineer of the City has examined such petition and has certified that he has determined such petition to be sufficient and that it has been signed by - 2 -' the owners of property aggregating a majority of the area included in the proposed local improvement district. Section 2. The City Council of the City of Winslow, Washington (the "City"), orders the improvement of Madison Avenue from Wyatt Way to Winslow Way in the City of Winslow by constructing standard curbs and gutters on the east side of Madison Avenue; paving the street; installing waterlines and fire hydrants; installing a sidewalk, bike lane, sanitary and storm drainage and streetlights; providing traffic control devices and relocation of utilities, landscaping, all grading and base preparation and related work necessary to make a complete improvement in accordance with city standards. All of the foregoing shall be in accordance with the plans and specifications I:herefor, prepared by the consulting {-tnclilleers, (;arc]tl{;r I,:ngineet. s, SuLtc 300, 2124 l;'ou~'l:h Av~:nt~e, Seattle, Washir~gton, and may be modified by the City Council as long as such modification does not affect the purpose of the improvement. Section 3. There is created and established a local improvement district to be called Local Improvement District No. 10 of the City of Winslow, Washington (the "District"), the boundaries or territorial extent of which District being more particularly described in Exhibit A attached hereto and by this reference incorporated herein. Section 4. The total estimated cost and expense of the improvement is declared to be $ 606,000.00. No more than $60,68[.50 of that cost and expense shall be borne by and assessed against the property specially benefited by such improvement included in the District embracing as nearly as practicable all property specially benefited by such improve- ment. The balances of such cost shall be paid by the City. - 3 - Section 5. In accordance with the provisions of RCW 35.44.047, 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 6. Local improvement district warrants may be issued in payment of the cost and expense of the improvement herein ordered to be assessed, such warrants to be paid out of the Local Improveme~t Fund, District No. 10, hereinafter created and referred to as the Local Improvement Fund, and, until the bonds referred to in this section are issued and delivered to the purchaser thereof, to bear interest from the date thereof at a rate to be established hereafter by the City Clerk-Treasurer, as issuing officer, and to be redeemed in cash and/or by local improvement district bonds herein authorized to be issued, such if~terest-bearing warrar~ts to be hereafter referred to as "~evenue warrants." Irt the alte~uat[ve, the City hereafter may provide by ordinance for the is. suance of other short-term obligations pursuant to Chapter 39.50 RCW. 'Fhe City is authorized to issue local improvement district bonds for the District which shall bear interest at a rate and to be payable on or before a date to be hereafter fixed by ordinance. The bonds shall be issued in exchange for and/or in redemption of any and all revenue warrants issued hereunder or other short-term obligations hereafter authorized and not redeemed in cash within twenty days after the expiration of the thirty-day period for tile cash payment of assessments without interest on the assessment roll for tile District. The bonds shall be redeemed by the collection of special assessments to be levied and assessed against the property within the District, payable in annual installments, with interest at a rate to be hereafter fixed by ordinance under the mode of "payment by bonds," as defined by law and the ordinances of the City. The - 4 -' exact form, amount, date, interest rate and denominations of such bonds shall be hereafter fixed by ordinance of the City Council. Such bonds shall be sold in such manner as the City Council shall hereafter determine. Section 7. In all cases where the work necessary to be doue in connection with the making of such improvement is carried out pursuartt to contract upon competitive bids (and the City shall have and reserves the right to reject any and all bids), the call for bids shall include a statement that payment for such work will be made in cash warrants drawn upon the Local Improvement Fund. Section 8. There is created and established in the office of the City Clerk-Treasurer for the District the Local Improve- meot Fund, into which fund shall be deposited the proceeds from tile sale of revenue warrants or other shot:t-term ob[igatious drawn against the fund which may be issued a~d sold by the City and collections pertaining to assessments, and against which fund shall be issued cash warrants to the contractor or con- tractors in payment for the work to be done by them in connec- tion with the improvement, and against which fund cash warrants shall be issued in payment for all other items of expense in connection with the improvement. Section 9. Within fifteen (15) days of the passage of this ordinance there shall be filed with the City Clerk-Treasurer the title of the improvement and District number, a copy of the diagram or print showing the boundaries of the District and the preliminary assessment roll or abstract of such roll showing thereon the lots, tracts and parcels of land that will be specially benefited thereby and the estimated cost and expense of such improvement to be borne by each lot, tract or parcel of land. The City Clerk-Treasurer shall immediately post the p~oposed assessment roll upon her index of local improvement - 5 - assessments against the properties affected by the local improvement. PASSED by the City Council and APPROVED by the Mayor of the City of Winslow, Washington, at a regular open public meeting thereof, this 19th day of February, 1987. CITY OF WINSLOW, WASHINGTON Mayor ALICE S . TAWRESEY ATTEST: .... ~: i67FC~le~ii'r'r~ash?er ": DONNA JFEAN BUXTON 2127w - 6 - I, DONNA JEAN BUXTON, City Clerk-Treasurer of the City of Winslow, Washington, certify that the attached copy of Ordinance No.~r~°~Y.~is a true and correct copy of the original ordinance passed ol~ the _~7~ day of February, 1987, as that ordinance appears on the Minute Book of the City. DATED this /?~' day of February, 1987. Donna Je~an BUxton City Cleft-Treasurer 2i27w