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. ORDINANCE 'N0. ' 3692 . . •
AN ORDINANCE OF THE CITY OF AUBURN, WASHINGTON, RELATING TO INTERIM FINANCING
IN LOCAL IMPROVEMENT DISTRICT NO. 313 ACCEPTING THE OFFER OF RAINIER
NATIONAL,BANK, AUBURN BRANCHy, TO PURCHASE REVENUE WARRANTS AND
FIXING THE INTEREST RATE ON SUCH REVENUE WARRANTS.
WHEREAS, under date of October 29, 1981; Rainier.National Bank, Auburn Branch, offered to purchase revenue'warrants of Local '
. Impzovement District No. 313, such warrants to bear interest at the rate
of 13.0% per annum and to be redeemed within,one,(1) yearfrom the
date of issuance thereof;
NOW, THEREFORE, THE CITY GOUNCIL OF THE CITY.OF AUBURN,
` 4dASIiINGTON, DO ORDAIN AS FOLLOWS:
' Section 1. 'The.offer of'Rainier NaEional Bank;,'Auburn Branch,
to purchase revenue warrants drawn upon the "Local Improvement,
F'und No.313", to bear interest~'at the'rate of 13.08 per' annum is
hereby accepted.
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Section 2: The interest rate on such.revenue war`rants•to be issued in payment of the costs of the,improvements made within Local
Improvement District No. 313 is hereby fixed at,the rate of 13.08 per
annum in accordance w.ith the duly accep'ted offer of Rainier'National
Bank, Auburn Branch. .
. Section 3. This Ordinance shall take effect and be in force five (5) days from and after its pa'ssage, approval,and publication, as pro-
vided by law. .
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INTRODUCEDc DYJV:1IBE.°. 2, 1931
` . ' PASSED: • PdOVIIMBE.F 2, 1981 .
APPROVED:. . NOVIIKBER 2. 1981
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.-ATTEST:-.
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~ City Cle
APPR E 0 ORM: . ' ' .
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• City Attorney , pt7gLISHID: . NOVEPIBER u, 1981
Ordinance No. 3692 '
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STATE OF WASHZNGTON)
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COUNTY OF KING ) I, CoraZee A. McCOnnehey, the duly appointed, quaZified City CZerk
of the City of Auburn, a Municipal Corporation and Code City, situate in
the County of King, State of Washington, do hereby certify that the fore-
going is a full, true and correct copy of Ordinance No. 3692 of the
ordinances of the City of Auburn, entitled "AN ORDINANCE OF THE CITY OF AUBURN,
WASHINGTON, RELATIHG:TO INTERIM FINANCING*IN LOCAL IMPROVEMENT DISTRICT
N0. 313 ACCEPTING THE OFFER OF RAINIER NATIONAL BANK, AUBURN BRANCH,
TO PURCHASE REVENUE WARRANTS AND FIXING THE INTEREST RATE ON SUCH
REVENUE WARRANTS.
I certify that said Ordinance No. 3692 Was duly passed by the Council
and approved by the Mayor of the said City of Auburn, on the 7nd day of
N uamhor A.D., 19 $l. . .
I further certify that said Ordinance tuo. 3692 was published as provided
by law in the Daily Globe News, a daily newspaper pubZished in the City of
Auburn, and of genera2 circalation therein, on the $th day of November
A.D., 19 81 .
WZTNESS my hand and the offical sea2 of the City of Auburn, this. 7th
day of Decembez A.D., 1981
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CZTY CLERK OF THE CITY OF AUBURN
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