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ORDINANCE NO. 3693
AN ORDINANCE OF THE CITY OF AUBURN, WASHINGTON, RELATING TO INTERIM FINANCING
IN LOCAL IMPROVEMENT DISTRICT NO. 322 ACCEPTING THE OFFER OF RAINIER
. NATIONAL BANK, AUBURN BRANCH, 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,
Improvement District No. 322, such warran.ts tb bear interest at the rate
of 13.0% per annum and to be redeemed within one (1) year,from the
date of issuance thereof;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN,
WASHINGTON, DO ORDAIN AS FOLLOWS:
Section 1. The offer of Rainier National Bank, Auburn Branch,
to purchase revenue warrants drawn upon the "LOCal Improvement
Fund No.322", to bear interest at the rate of 13.0% per annum is
hereby accepted.
Section 2. The interest rate on such revenue warrants to be
' issued in payment of the costs of the improvements made within Local
Improvement District No. 322 is hereby fixed at the rate of 13.08 per
annum in accordance with the duly accepted offer of Ra'inier National
Bank, Auburn Branch.
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.
, INTRODUCED: NOVE['IBEFR 2, 1981
PASSED: . NOVEN]BER 2, 1931
. APPROVED:• NOVII4BER 2, 1981
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0 R
' ATTEST:
Pic . _ City C1 k
APPR D ib
b t
City Attorney PUBLISHID: NOVEMBER 81 1981
Ordinance No. 3698 •
STATE OF WASXINGTON) ) ss.
COUNTY OF KZNG - ) I, CoraZee A. McCOnnehey, the duly appointed, qualified City CZerk
of the City of Auburn, a Municipal Corporation and Code City, sitvate 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. 3698 of the
ordinances of the City of Aubvrn, entitZed "AN ORDZNANCE OF THE CITY
OF AUBURN, WASHINGTON, RELATING TO INTERIM FINANCING.IN LOCAL IMPROVEMNT
DISTRICT N0. 322 ACCEPTING THE OFFER OF RAINIER NATIONAL BANK, AUBURN
BRANCH, TO PURCHASE REVENUE WARRANTS AND FIXING THE INTEREST RATE
ON SUCH REVENUE WARRANTS.
I certi.fy that said Ordinance rvo. 3698 Was duly passed by the Counci2
and approved by the Mayor of the said City of Auburn, on the 2nd day of ~
NOVEMBER A.D., 1981 .
I further certify that said Ordinance No. 3698 was pablished as pzovided
by Iaw in the Daily Globe News, a daily newspaper published in the City of
Auburn, and of genera.2 circulation therein, on the 8th day of NOVEMBER
A.D.. 19 81 .
WITNESS my hand and the offical seal of the City of Auburn, this. 7th
day of December, A.D., 19 $1.
CZTY CLERK OF THE ITY OF AU
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