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ORD 81-05 APPROVING AND CONFIRMING ASSESSMENT ROLL IN LID NO. 5CITY OF WINSLOW, WASHINGTON ORDINANCE NO. 81-05 AN ORDINANCE Of the City of Winslow, Washington, approving and confirming the assessments and assess- ment roll in Local Improvement District No. 5 and providing for the delivery of such roll to the City Clerk-Treasurer of the City for collection. WHEREAS, the assessment roll levying the special assessments against properties located in Local Improvement District NO. 5 of the City, created under Ordinance No. 78-32, has been filed with the City Clerk-Treasurer of the City, as provided by law; and WHEREAS, notice of the time and place of hearing thereof and of making objections and protests to that roll was duly published at and for the time and in the manner provided by law, fixing the time and place of hearing thereon for January 19, 1981, at 7:00 p.m., local time, at the City Hall, 625 Winslow Way East, Winslow, Washington, and further notice thereof was duly mailed to each property owner within Local Improvement District No. 5 as shown on the tax rolls of the Kitsap County Treasurer; and WHEREAS, at the time and place fixed and designated in the notice, the hearing was duly held and the City Council heard all persons who wished to be heard at such hearing and duly considered all protests made in writing and overruled the same; NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF WINSLOW, WASHINGTON, DO ORDAIN as follows: Section 1. The assessments and assessment roll of Local Improvement District No. 5, as the same now stand, be and the same are hereby in all things and respects approved and confirmed in the total amount of Section 2. Each of the lots, tracts, parcels of land and other property shown upon the roll is hereby determined and declared to be specially benefited by the improvement in at least the amount charged against the same and the assessment appearing against the same is in proportion to the several assessments appearing upon that roll. There is hereby levied and assessed against each lot, tract, parcel of land and other property appearing upon the roll the amount finally charged against the same thereon. Section 3. The assessment roll as approved and confirmed shall be filed with the City Clerk-Treasurer of the City for collec- tion, and the City Clerk-Treasurer is hereby authorized and directed to publish notice as required by law stating that the roll is in her hands for collection and payment of any assessment thereon or any portion of the assessment can be made at any time within thirty days from the date of the first publication of the notice without penalty, interest or cost, and that thereafter the sum remaining unpaid may be paid in ten equal annual installments with interest thereon hereby fixed at the rate of/~% per annum, except if the net effective interest rate fixed on the bonds hereafter issued for Local Improvement District No. 5 is other than the above rate, the interest rate on the unpaid assessments shall be revised to a rate of 1/2 of 1% in excess of the net effective interest rate on such bonds. The first installment of assessments on the assessment roll shall become due and payable during the thirty-day period succeeding the date one year after the date of first publication by the City Clerk-Treasurer of notice that the assessment roll is in her hands for collection and annually thereafter each succeeding installment shall become due and payable in like manner. If the whole or any portion of the assessments remains unpaid after the thirty-day period, interest upon the whole unpaid sum shall be charged at the above-determined rate and each year thereafter one of the install- ments, together with interest due on the whole of the unpaid balance shall be collected. Any installment not paid prior to the expiration of the thirty-day period during which such installment is due and payable shall thereupon become delinquent. All delinquent installments shall be subject to a charge for interest at the above-determined rate and for an additional charge of 12% penalty levied upon both principal and interest due upon such installment or installments. The collection of such delinquent installments will be enforced in the manner provided by law. PASSED by the City Council and APPROVED by the Mayor of the City of Winslow, Washington, at a regular open public meeting thereof this 2nd day of February, 1981. ATTEST: