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'ORDINANCE NO. 3693 •
AN ORDINANCE,OF THE"CITY OF AUBURNy WASHINGTON, RELATING TO INTERIM FINANCING
IN'LOCAL',IMPROVEMENT DISTRICT N0. 31-4'ACCEPTING THE OFFER OF FIRST
`INTERSTATE BANK, AUBURN BRANCA, TO PURCHASE REVENUE WARRANTS
` AND FIXING,THE+,INTEREST RATE ON SUCH REVENUE WARRANTS.
,WHEREAS.; under date of October 30, 1981, First Interstate Bank,
Auburn,'Bianch,'offered.to,purchas.e revenue warrants of.Local
' Improv,ement Dis~tricE No. 314, such warrants to,bear interest at the
rate of.,13.58;perannum.and to be redeemed within one (1)' year from .
the date'of issuance thereof;.• NOW, THEREFORE, THE CITY'COUNCIL OFTHE CITY OF AUBURN,
WASHINGTON,''DO ORDAIN AS FOLLOWS:
Section l. The offer•of Eirst Interstate Bank, Auburn Branch, to
purchase revenue w'arrants drawn upon the "Local Improvement Fund No.
314", to bear inEerest•at,the rate of 13.5% per annum, is hereby
.:accepted.
Section 2. The interest.rate on.sucYi revenue warrants to be '
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issued in'payment'of the costs of the improvements made within Local
Improyement District No 314,is hereby fixed at,the.rate of 13.5% per
annum in accordance with-the duly accepted~offer of First Interstate.
Bank, Auburn rBrancfi;.
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'Section 3, This ordinance-shall take effect and be in force five'
(5) days from~'and •after'"its•.~passage,` approval and publication, as pro-
vided 6y law
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• INTRODUCED: NpV-FMgt 2, 1981
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PASSEDs NOVENII3E2 2. 1981
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. , APPROVED: , 1.]pvaqggR 2. 1901
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AT EST. .
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C~ity C erk -
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APPRO t FO ,
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City Attorney. , PUBLISHED: NOVENBE2 8, 1431
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Ordinance Nor 3693 ,
' 10/30/81 .
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STATE OF WASXINGTON)
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COUNTY OF KZNG - ) I, Coralee A. McConnehey, the duly appointed, qualified City Clerk
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 fu11, trve and crorrect copy of Ordinance No. 3693 of the
ordinances of the City of Auburn, entitIed "AN ORDINANCE OF THE CITY OF
AUBURN, WASHINGTON, RELATING TO INTERIM FINANCING IN LOCAL IMPROVEMENT
DISTRICT N0. 314 ACCEPTING THE OFFER OF FIRST INTERSTATE BANK,
AUBURN BRANCH, TO PURCHASE REVENUE WARRANTS AND FIXING THE INTEREST
RATE ON SUCH REVENUE WARRANTS.
I certify that said Ordinance No. 169was duly passed by the Council
and approved by the Mayor of the said City of Auburn, on the 7nd day of
November A.D., 19 81•
I further certify that said Ordinance No. 3693 Was pabZished as provided
by law in the Daily Globe rvews, a daily newspaper published in the City of
Auburn, and of generaS circvlation therein, on the 8th day of November
A.D.. 19 $1 . , .
WITNESS my hand and the offical seal of the City of Auburn, this. 7th
day of DecembqrA.D., 19 81.,
~l / AY CZTY CLERK OF TNOF AUBURN
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