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<br /> <br /> <br /> <br /> <br /> <br /> ORDINANCE NO. 6 2 4 0 <br /> <br /> <br /> AN ORDINANCE RELATING TO LOCAL IMPROVEMENT <br /> DISTRICT NO. 350; FIXING THE AMOUNT, FORM, DATE, <br /> INTEREST RATE AND MATURITY OF THE LOCAL <br /> IMPROVEMENT DISTRICT NO. 350 INSTALLMENT NOTE; <br /> PROVIDING FOR THE PURCHASE OF SUCH NOTE BY THE CITY <br /> FROM FUNDS ON DEPOSIT IN THE CAPITAL PROJECTS FUND; <br /> AND FIXING THE INTEREST RATE ON LOCAL IMPROVEMENT <br /> DISTRICT NO. 350 ASSESSMENT INSTALLMENTS <br /> <br /> <br /> WHEREAS, pursuant to RCW 35.45.150, the City Council of the City <br /> <br /> of Auburn, Washington (the "City"), has determined to issue its Local Improvement <br /> <br /> District No. 350 Installment Note in the aggregate principal amount of $55,948.45 <br /> <br /> and finds it is in the best interest of the City that such note be purchased by the City <br /> <br /> from funds on deposit in the Capital Projects Fund of the City and available for <br /> <br /> investment. <br /> <br /> NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF <br /> <br /> AUBURN, WASHINGTON, DO ORDAIN AS FOLLOWS: <br /> <br /> Section 1. AUTHORIZATION AND DESCRIPTION OF NOTE. The total <br /> <br /> amount of the assessment roll in Local Improvement District No. 350 in the City <br /> <br /> of Auburn, Washington (the "City"), created under Ordinance No. 6111 which <br /> <br /> passed August 6, 2007, was $112,078. The 30-day period for making cash <br /> <br /> payments of assessments without interest in the District expired on March 26, <br /> <br /> 2009, and the total amount of assessments paid in cash was $56,129.55, leaving <br /> <br /> <br /> <br /> <br /> Ordinance No. 6240 <br /> May 11, 2009 <br /> Page 1 of 7 <br />