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Ordinance No. 0236
CITYorMEDINAORDINANCEN037ANORDINANCEMendingSection3OrdinanceNo218creatingLocalImprovementDistrictNo2FundTHECITYCOUNCILOFTHECITYOFMPDINADOORDAINASFOLIXqSSection1PurposeThepurooseofthisordinanceistoamendSection3OfOrdinanceNo218describingmodeofpaymentofbondsandinterestrateofLOcalImprovementDistrictFUnd2Section2Section3ordinanceNo218AmendedSection3ofOrdinanceNO218adoptedthe10thdayofJuly1967isherebyamendedtoreadasfollowsSection3BondsofsaidlocalimprovementdistrictbearinginterestatarateOfnottoexceed614percentperannumandpayableonorbeforeadatenotexceedingtwelve12yearsfromandafterthedateofissueshallbeissuedinpaymentofthecostandexpensesoftheimprovementsprovidedheroinwhichbondsshallberedeemablebythecollectionofspecialassessmentstobeleviedandassesseduponthepropertywithinthedistrictasaboveprovidedsuchassessmentstohepayableinten10equalinstallmentswithinterestatarateofnottoexceed614perannumunderthemodeofpaymentofbondsasdefinedbythestatutesoftheStateofWashingtonandordinancesoftheCityofedinaAnyassessmentsorinstallmentsthereofwhendelinquentandtheinterestduethereonshallbearapenaltyof614percentofthetotalamountthereoffromthedateofsuchdelinquencySection3CodeReferenceOrdinanceNo218allsectionsOfsecialeffectExceptasitamendsSection3ofthisordinanceshallbedeemedSection4EffectiveDateThisordinanceshalltakeeffectuponthe16thdayofDecember1968PASSEDbytheCityCouncilonthe9thdayofDecember1968andsignedinauthenticationofitspassagethesamedayAnDrovedastoform