RES 2012-07 LID 22RESOLUTION NO. 2012-07
A RESOLUTION of the City of Bainbridge Island, Washington,
relating to LID No. 22; authorizing the City to accept payment of
Local Improvement District No. 22 assessments in full without
interest for a 30 -day period.
WHEREAS, the final assessment roll for Local Improvement District No. 22, which was
created and established by Ordinance No. 2010 -32 and passed by the City Council on October 13,
2010, has been prepared as provided by law and is on file with the City Clerk; and
WHEREAS, the City provided notice via publication and mailing to property owners in
compliance with RCW 35.49.010; and
WHEREAS, certain property owners have reported not receiving notice and /or not
knowing about the period for prepaying assessments without incurring interest charges; and
WHEREAS, the City has determined that it is in the best interest of the LID, including to
facilitate the payment of assessments, to re -open the period for payment of assessments in full
without interest; now therefore,
THE CITY COUNCIL OF THE CITY OF BAINBRIDGE ISLAND,
WASHINGTON, DOES RESOLVE AS FOLLOWS:
1. That the I
No. 22 without penalties
2012 (or the earliest date
assessment in frill during
the interest accrued from
)eriod for payment of assessments within Local Improvement District
or interest will be re- opened for a 30 -day period beginning on June 29,
thereafter that notice is published). Any person paying his or her entire
this period shall receive a waiver in the form of a credit in the amount of
and after April 4, 20111
2. All assessment payments received by the City during this period shall be applied to
the early repayment of the City's outstanding LID No. 22 Bond, including principal and interest, at
the earliest practicable date after the close of this period. If the Finance Director deems necessary or
advisable, money on deposit in the Guaranty Fund may be used to pay interest on the LID No. 22
Bond, in accordance with Ordinance No. 2010 -33 and Resolution No. 2011 -04.
3. The City Clerk is instructed to cause notice to be given both by mailing and
publication in the same manner as a notice of collection of assessments under RCW 35.49.010.
PASSED by the City Council this 27th day of June, 2012.
APPROVED by the Mayor this 27th day of June, 2PT2�'
Debbi Lester, Mayor
ATTEST /AUTHENTICATE:
QAf\CL _ W tig
Rosalind D. Lassoff, City Clerk
FILED WITH THE CITY CLERK: June 21, 2012
PASSED BY THE CITY COUNCIL: June 27, 2012
RESOLUTION NO.: 2012 -07