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HomeMy WebLinkAbout1979-2288 STREET IMPROVEMENT ORDINANCE NO. �Fg? • AN ORDINANCE providing for the improvement of certain streets by grading, ballasting, surfacing with asphaltic concrete and constructing concrete curbs and gutters, • together with necessary drainage features; establish- ing a Local Improvement District, providing for the method of payment thereof, and creating a • special fund. BE IT ORDAINED BY THE CITY OF YAKIMA: Section 1. The following described streets situate in the City of Yakima, Washington, shall be improved by grading, ballast- ing, surfacing with asphaltic concrete and constructing concrete curbs and gutters, together with necessary drainage features: All streets within "Tancara Addition ", as more speci- fically described on "EXHIBIT A" attached hereto and made a part hereof. • Section 2. There is hereby created a Local Improvement District, to be called "Local Improvement District No. 1027 ", which said district shall include all of the property adjacent to the above mentioned improvements which are subject to assess- ments. Section 3. The assessments shall be made according to special benefits derived from the improvements without regard to the zone and termini method. Section 4. All costs and expenses in connection with the construction of said improvements, including the cost and expense • of enginering, inspection, advertising, publication of notices, and all other expenses incident thereto, shall be levied and assessed upon all of the property embraced within said Local Improvement District, in the manner and as provided by the laws of the State of Washington and the ordinances of the City of Yakima, and said City shall not be liable in any manner for any portion of said costs and expenses of said improvement. Section 5. All of the aforesaid construction work shall be in accordance with the plans and specifications, profiles, maps and detailed drawings which have been prepared by the City Engineer, filed with the City Clerk, and which are hereby approved • and adopted. Section 6. The work necessary to be done in connection with the making of said improvement shall be done by contract upon competitive bids according to specifications and plans as. prepared by the Engineering Division of the Department of Public Works, and the City shall have the power to reject any and all bids. Section 7. There is hereby created a special fund, to be called "Local Improvement Fund, District No. 1027", into which shall be placed all sums paid on account of the aforesaid special assessments, including all interest and penalties thereon, and in the event of the sale of local improvement bonds by the City, all premium and interest on said bonds issued for said improve- ment. Section 8. Bonds bearing interest at a rate not to exceed 8% per annum, payable on or before 12 years from the date of issuance, shall be issued in payment of the costs and expense of said improvement, which bonds shall be redeemed by the collec- tion of special assessments to be levied and assessed upon the property within said district, payable in ten equal annual installments with interest at a rate not to exceed 8 1/2% per annum, interest payable annually under the mode of payment "payment by bonds" as defined by the statutes of the State of Washington and the ordinances of the City of Yakima, provided that, this improvement may be financed by the issuance of promis- sory notes, under the authority of R.C.W. 35.45.150 and Section 8.12.100 of the City of Yakima Municipal Code. 111 Section 9. This ordinance is one relating to local improve- ments or assessments therefor, and shall become effective immediately upon its passage, approval and publication as provided by law and by the City Charter. PASSED BY THE CITY COUNCIL, signed and approved this day of , 1979. /g49zowidot../ V Mayor 411 ATTEST: , City C r -2-