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1 ORDINANCE N0. 3 7 7 2
2 AN ORDINANCE OF THE CITY OF AUBURN., WASHINGTON, RELATING TO INTERIM FINANCING
3 IN LOCAL IMPROVEMENT DISTRICT N0. 323, ACCEPTING THE OFFER OF ,
AUBURN.VALLEY BANK, TO PURCHASE REVENUE WARRANTS AND FIXING
4 THE INTEREST'RATE ON SUCH REVENUE WARRANTS.
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WHEREAS, under date of May 3, 1982, Auburn Valley Bank offered to purchase
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revenue warrants of Local Improvement District No. 323, such warrants to bear
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interest at the rate of 9.430% per annum and to be redeemed within one (1)
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year from the date of issuance thereof;
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NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, DO
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ORDAIN AS FOLLOWS:
11 Section 1. The offer of Auburn Valley Bank to purchase revenue warrants
12 drawn upon the "Local Improvement Fund No. 323", to bear interest at the rate
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of 9.430% per annum is hereby accepted.
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Section 2. The interest rate on such revenue warrants to be issued in
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payment of the costs of the improvements made within Local Improvement
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District No. 323 is hereby fixed at the rate of 9.430% per annum in accordance
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with the duly accepted offer of Auburn Valley Bank.
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Section 3. The Mayor is hereby authorized to implement such administra-
19 . tive procedures as may be necessary to carry out the directions of this legisla-
. 20
21 tion. .
22 Section 4. This Ordinance shall take effect and be in force five (5) days
23 from and after its passage, approval and publication, as provided by law.
INTRODUCED: tliNF 91, 7489
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. PASSED: JUNE 21, 1982
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26 APPROVED: UNE , 982
27 • MAYOR
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28 ATTEST: ~ u . , " % ~ • , ' !
29 ` _ : . " City Glle'r~
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31 APP V D ~'Q .~~Q&f~l: ~
PUBLISHED: JUNE 21. 1982
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City Attorney
-Or-inance No. 3772
6-9-82 .
STATE OF WASXZNGTON)
) ss.
COUNTY OF KING ) I, Coralee A. McCOnnehey, the duly appointed, quaZified 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-
g oing is a full, trve and correct copy of Ordinance No. 3772 of the
ordinances of the City of Auburn, entitZed "AN ORDZNANCE OF THE CITY OF
AUBURN, WASfIING'PON, RIIATING TO LNTERII4 FLNfA'VCDIG IN LOCAI. IMPROVII°1F:Vi' _
DISIIZIGT N0. 323, ACCEP'I'ING THE OFFER OF AUBURN VALLF;Y BAW, M PURCNASE
?ZEVIIVUE [dARRANTS AND FIXING THE IISTEREST RATE ON SUCH REVEN[TF j~IARFtANI'S.
Z certify that said Ordinance No. 3772 was duly passed by the Council
and approved by the Mayor of the said City of Auburn, on the 21 day of
J1II12 A. D. , 1982 . . . '
I further certify that said Ordinance No. 3772 was published as provided
by law in the Dai1y G1obe News, a daily newspaper pubZished in the City of
Auburn, and of general circv2ation therein, on the 29~ day of Jtme
A.D., 1982
WITNESS my hand and the offical seal of the City of Auburn, this 25
day of July , A.D., 19 82 •
C
CZTY CLERK OF TNE CZTY OF AUBURN D