HomeMy WebLinkAboutOrd 1128 - LID #25 (Local Improvement District) - Extend Interim FinancingCITY OF TUKWI
WASHINGTON
ORDINANCE NO. /1 cA
AN ORDINANCE EXTENDING THE INTERIM FINANCING FOR LID 25
REVENUE WARRANTS.
WHEREAS, resolution no. 424 adopted April 15, 1974 authorized
the issuance of LID 25 revenue warrants, and designated Seattle First
National Bank as the lending institution, and
WHEREAS, a law suit has delayed the issuance of LID bonds to
redeem such revenue warrants;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF TUKWILA DO
ORDAIN AS FOLLOWS:
Section 1. The financing period be extended to 12/31/80.
Section 2. The interest rate of 5.2% be increased to 6.95
Section 3. The financing be renegotiated after 12/31/80 if a
future extension is needed.
PASSED BY THE CITY COUNCIL OF THE CITY OF TUKWILA, WASHINGTON,
at a regular meeting thereof this /r/ day of ,,.46 1979.
APPROVED AS TO FORM:
ATTEST:
Bepy City Attorney, Lawrence E. Hard
City Clerk
Published Record Chronicle s September 21, 1979
COUNCIL ACTION
MEETING I DATE AGENDA I ACTION
TYPE ITEM