The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1914-1938, 1937-12-23
COMMISSIONERS

Notice Of Re-Hearing on Issuance
Of Refunding Bonds and on the
Re-Assessment Roll Therefor and
on the Levying Of such Assess
ment.
In the Matter Of Drainage I'm
provement District No. 10 Of Ben
ton County. -. &. ..~-
Notice is hereby given that on De-
cember 18th, 1887, the Board of
Commissioners of Benton County
passed resolution on the above en-
titled matter as follows, to-wit:
ut appears that the holders of
the old construction bonds will con-
summate refinancing of the above
entitled Drainage Improvement Dis
trict No. 10 Of Benton County on
the basis Of the revised refunding
assessment roll as heretofore adopt
ed. with credits for payments made,
same having total of $96sl.7s, less
such credits, provided the assess
ment period be reduced to ten years,
and will waive interest thereon to
January LIST, 1898; and that the en-
tire outstanding construction bond
issue can be exchanged and retired
for said refunding issue, reserving
enough also of said refunding bonds
and cash on hand to cover the costs
and expenses of refunding; and that
for the retirement and refunding
thereof, including said expenses, 1t
is necessary and advisable and for
the best interests of the landowners
of the district that the refunding
assessment of the above total
amount be relieved against the
lands of said district, modified so
as to be payable in ten years as
herein set forth. The said refund
ing bonds will bear interest at 4
percent per annum payable semi
annually on July LIST and January
LIST, beginning July LIST, 1898, and be-
ing p ayable at any coupon paying
date on or before maturity and all
fall due on or before January LIST.
1919.
1T further appears that the re-
funding assessment roll as hereto
fore adopted on July oath 1896, with
credits for payments made is on file
with the Clerk of this Board and
open to inspection of all persons in
terested.
Whereas in the judgment of the
Board of County Commissioners mol
sale of such refunding bonds can be
made on more advantageous terms
than the aforesaid exchange of the
old bonds for the. said issue of re-
funding bonds:
ut is Now, Therefore, RESOLVED
that refunding bonds Of the said dis
trict in the amount of $9200.000 or
such lesser amount as may be re-
quired after deducting any advance
payments by landowners, be issued
and delivered to the Bondholders'
Committee of said district in ex-I
change for all of the outstanding
bonds, reserving from said refund |
ing issues enough of the first num-
bered bonds to pay the refunding
expenses. Said bonds to be accord
ing to the following schedule, to-wit: |
said bonds shall be of denomina-
ton of $4,000 each, shall bear date
of January LIST, 1898, and shall be-
come due on or before January LIST,
1919; and that the outstanding l
bonds and the cost of refunding be
retired by exchanging same for said
refunding issue.
1T is further Resolved that the
assessment heretofore levied against
the lands and property of said dis
trict be modified and relieved toI
support said refundng bonds, in the
total amount of $9,68035, less credits
for any installments paid, as set
forth in the said re-assessment roll
which is on file with the Clerk of
this Board. One installment of said
assessment on the twenty-year planI
has already fallen due In the year
1897. The remainder of said assess
ment without interest to January
LIST, 1888, shall become due in nine
equal annual installments Of which