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RESOLUTION NO. J 7~St
A RESOLUTION of the City of Port Angeles, Washington,
creating a Constructioh Fund for Local Improvement
District No. 178 of the City for the purpose of
paying all costs of the improvements to be con-
structed and installed in said local improvement
district, including all costs incidental thereto,
and authorizing the sale of bonda and warrants of
said local improvement district at public sale.
WHEREAS, by proceedings duly and regularly taken and
by Ordinance No. 1418 passed and approved July 3, 1958, Local
Improvement District No. 178 of the City was created and the
construction and installation of certain improvements therein
was authorized; and
WHEREAS, bids have been called and contracts let in the
manner required by law for the construction and installation
of said improvements; and
WHEREAS, said Ordinance No. 1418 provided that bonds
of such local improvement district payable out of special
assessments to be levied upon the property within the district
specially benefited by the construction and installation of
such improvements would be issued to provide funds to redeem
the warrants of the district issued on Local Improvement Dis-
trict No. 178 Fund created by said ordinance, to pay the cost
and expense of such improvements and all costs incidental
thereto; and
WHEREAS, the City Council deems it advisable to sell such
bonds and warrants at public sale; and
\iHEREAS, it is necessary that the money received by the
city from the sale of said warrants be placed in a special con-
struction fund of said local improvement district and used to
pay the cost of said improvements and incidental costs;
NOW, THEREFORE, BE IT RESOLVED by the Council of the City
of Port Angeles, Washington, as follows:
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Section 1: That there be and is hereby created a
special fund of the city known as "Local Improvement District
No. 178 Construction Fundll. All moneys received from the sale
of warrants drawn on Local Improvement District No. 178 Fund
created by Ordinance No. 1418 of the city shall be placed in
said Construction Fund, and shall be used solely for the pur-
pose of paying the costa of construction and installation of
the improvements authorized for Local Improvement District No.
178 of the city, including all costs incidental thereto.
Seetion 2: The warrants and bonds of Local Improvement
District No. 178 shall be offered for sale at public sale at
not less than par, and at interest at not to exceed 6~ per
annum.
The action of the City Clerk in publishing the call for
bids in the July 25, 1958 issue of the Port Angeles Evening
News is hereby ratified.
PASSED by the Council of the City of Port Angeles, Wash-
ington, at a regular meeting of said Council held this
day of August, 1958, and approved by its Mayor on said date.
ATTEST:
CITY~ ANGELES, WASHINGTON
BY~ . dF
ayor
City Clerk
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