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ORDINANCE NO.' 3697 . .
,?AN ORDINANCE OF-THE.CITY,OF AUBURN, WASHINGTON, RELATING`TO.INTERIM'FINANC3NG
IN,LOEA,L"IMPROVEMENT`DISTRICT NO...;320,;ACCEPTING THE OFFER~OF'RAINIER.,''
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NATIONAL BANK, A[JBURN BRANCH,'TO PURCHASE REVENUE;FIARRANTS,`.AND ,
FI•XINGz,THE INTEREST"RATE ON;,SUCH'REVENUErWARRANTS: ' , . . . . . , . •Y j
WHEREAS, under` date of."October 29,,' 1981; Rainier National~ Bank,,~_~
Auburn Branch„ offered :to-~purchase re"venue'warr`ants~of Local'
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Improvement 'District , No. 320, such.warrants to bear inferest at"the.rate,;
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, of 13A% p`er annum,and to:beredeemed within one (l) year, fr,om the .
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date,,-of iss,uance thereof;.. . . . k . . . .
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NOW, THEREFORE,, THE;CITY,COUNCIli:OF THE.CITY'OF.AUBURNj
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` WASHINGTON,_ DO,ORDAIN AS. "FOLLOWSt ~ ' • , . . .
- Section 1 'The offer of 'Rain.ier National Bank, Auburn-Branch,,',' l
, to'purchase revenue warran'ts drawn upon'the_ "Local.Improvement^" . '
Fund.No•,32Q"; 'to bear interest.at thera"te of 13.0% per annum 'i:s . ~
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, herebyaccepted..'' ' .
Section The, interest xate- on, such redenue warrants., to be
issued-,in;.payinenE of, the costs of the 'improvements: made within. Local
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, Improvementf District No ' 320 is.h'ereby'fixed at the rate of 13:0$ per
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annuin. in accordanc'e with ttie:duly'accept:ed offer -of Rainier National .
- Bank, AubuYn Branch.
~ Section 3. This Ordinancesfiall.take effect'and be _in force fiye,
(5), days.from.and after its passage;,approvaT,'and publicatiori, as pro- ` .
vided`:by •law. . ' . . :
, . - INTRODUCED: NOVE~MII2 2, _10931,": ,
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, . PASSED: NOVFIMER 2; 1981 ,
' APPROVED: NOVEP4BER 2`, 1981
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, • Cify Cler. . . ' : ,
APPR ED . r
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, • City, Aftorney ' PUBI.ISHED:' NOVII"BER 8; 1921 `
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Ordinance No:.3697.
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STATE OF WASHINGTON) ~
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COUNTY OF KING ) I, Coralee A. McCOnnehey, the duly appointed, qualified City Clerk
of the City of Auburn, a Municipa2 Corporation and Code City, situate in
the County of King, State of Washington, do hereby certify that the fore-
going is a fu11, trae and correct copy of Ozdinance No. 3697 of the
ordinances of the City of Auburn, entitled "AN ORDINANCE OF THE CITY
OF AUBURN, WASHINGTON, RELATIN [TO INTERIM FINANCING IN LOCAL
IMPROVEMENT DISTRICT N0. 320 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. 3697Was duly passed by the Council
and approved by the Mayor of the said City of Auburn, on the 2nd day of
November g,p., jg 81
I further certify that said Ordinance No. 3697 Was pvblished as provided
by law in the DaiZy Globe News, a daily newspaper pub shed in the Ci y of
Auburn, and of general circulation therein, on the Yth day of ~ovembeY
A.D.. 19 81
WZTNESS my hand and the offica2 sea2 of the City of Rvburn, this. 7th
day of December, A.D., 19 81 .
l~U VU.I.LC~ C .
CITY CLERK OF TNE CZTY OF AUBU
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