HomeMy WebLinkAbout3808 1
ORDINANCE N0. 3 8 0 8
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3 AN ORDINANCE OF THE CITY OF. AUBURN, WASHINGTON, RELATING TO INTERIM FINANCING
IN LOCAL IMPROVEMENT DISTRICT N0. 308 ACCEPTIIVG THE OFFER OF 11UBURN VALLEY
¢ BANK, TO PURCHASE REVENUE WARRANTS AND FIXING THE INTEREST RATE ON SUCH
REVENUE WARRANTS..
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6 WHEREAS, under date of September 29, 1982, Auburn Valley Bank offered to
7 purchase revenue warrants of Local Improvement District No. 308, such warrants
8 to bear interest at the rate of 8.25% per annum and to be redeemed within one
9 (1) year from the date of issuance thereof;
10 NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF AUBURN, WASHINGTON, DO
11 ORDAIN AS FOLLOWS:
12 Section 1. The offer of Auburn Valley Bank to purchase revenue warrants ,
13 drawn upon the "Local Improvement Fund No. 308", to bear interest at the rate
14 of 8.25% per annum, is hereby accepted.
15 Section 2. The interest rate on such revenue warrants to be issued in
16 payment of the costs of the improvements made within Local Improvement
17 District No. 308 is hereby fixed at the rate of 8.25% per annum in accordance
18 with the duly accepted offer of Auburn Valley Bank.
19 Seation 3. The Mayor is hereby authorized to implement such administra-
20 tive procedures as may be necessary to carry out the directions of the this
21 legislation.
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Ordinance No. 3808
Page One of Two
9-30-82, 10-5-82
1 Section 4. This Ordinance shall take effect and be in force fiVe (5) days
2 from and after its passage, approval and publication, as provided by law.
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5 INTRODUCED: OCTOBER 4. 1982
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q PASSED: OCTOBER 4.. 1982 -
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y APPROVED: OCTOBER 4, 1982
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MAYO
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ATTEST:
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15 �i��N.LU..(.���- L���I�Y�Ue Q��,,
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16 � C1 y Clerk
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18 APPROVED AS TO FORM:
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City Attorney
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2 3 PUBLISHED: OCTOBER 10, 1982
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Ordinance No. 3808
Page Two of Two
9-30-82, 10-5-82
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STATE OF WASNINCTON) .
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COUNTY� OF KING )
2, Coralee A. McConnehey, th8 duly appointed, qualified City Clerk
of [he City of Auburn, a Mun3cipa2 Corporation and Code City, situate in
the County of King, State of Washington, do hereby certify that [he fore- .
going is a fu11, true and �rorrect co�y of Ordinance No. �R�R of [he
. ordinances of the Ci�t�y of Aubum, entitled "AA ORDINANCE bF Tf� CITY OF AUBURN, �i�__ �
WAS�fON, RIIAI7NG ZU iNt'FRTM FINANCING IN I.00AL ITIPROVII�7QSi' DISTRICT N0. 308
ACCEPi'ING THE OFFIIZ OF AUBURN VALIE,1' BANK, TO PCiRCfiASE RY.'VF.NUE WARRANTS AND FLYING
THE IIVTEREST RATE OfI SUCH REVEN[JE WARRANTS. _
I certify that said Ordinance No. 3808 was duly passed by the Council
and approved by the Mayor of the said City of Auburn, on the /�_day of
October A.D. , 19 82 .
Z further certify that said Ordinance No. 3808 was published as provided
by law in the Daily Globe News, a daily newspaper publ.ished in the City of
Aubu.rn, and of general circulation Gherein, on the 10 day of Octob�er
A.D. , Z9 a2
WITNESS my hand and the offical seal oF the City of Auburn, this 19 -
d�3y Of �CtO�IBT , A.D. . 19 8Z .
(ifl ia,Qe� c(i�"a
CITY CLERK OF TNE CZTY OF AUBU