HomeMy WebLinkAbout1961-215 ;-.--'
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ORDINANCE N O
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III AN ORDINANCE fixing the time of delinquency of installments of
assessments levied for the payment of the cost of ,he
improvement in Local Improvement District No rn, and
providing for the issuance of bonds with coupons attached
for the,payment. of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That,there is unpaid the sum of $
for the improvement made in Local Improvement District No./_,L as
created and established by Ordinance Na. Lai_ of the Ordinances of
.the City of which shall be paid in d1 annual install-
me• . the first installment to be paid on or before the .day of
19 6z, with interest on the whole unpaid at the
rate c) _ 1 per cent per annum, and each year thereafter one of such
install '-n. s together with. interest thereon and on the installments
thereafter to become due at the rate of ,4( per cent per annum shall
be due and payable on or before the day of . / : in
. each year and shall be collected in the same manner as is pr c ided by
• law and the Ordinances of' the said City.
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Section 2. If any of the said installments of
or interest are not paid on or before the ,.5 day of 4z. , :—• .-.._-
of each year in which the same shall be paTa as provided in rition
1 hereof, the same shall thereupon become and be delinquent and shall
0 be collected as provided by the laws of the State of Washington and the
Ordinances of the.City of Yakima, ' and said delinquent assessments shall
bear inte ..
reSt at the rate of !- per cent per annum until paid and be
subject to a charge of .. _ .. 11 ISTF penalty upon both principal and
interest due thereon.
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Section 3. For the payment of the unpaid balance of the
cost and expense•of said improvement in said Local Improvement District .
NO. , there shall be issued bonds of the District in the sum
of $ , aaid_issue to consist of // bonds.in the
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denom ation of . e.67 ", each and one bond of the denomination
of $ - to e numbei-erTrom one upwards consecutively, and
shall bear interest at the rate 9f 7 per cent per annum, payable
annually on the Apt_ day of : ":7 - „, each year, the several in
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stallments of interest to e evi4nced " coupons attached to said
bonds and both principal and interest s all be payable at the office of
the City Treasurer in the City of Yakima, Washington.
Section 4 The bonds provided for herein shall be sub-
stantially in the form prescribed by Section 18 of Ordinance No A-192
as amended of the Ordinances (If the City of Yakima,, Washington. They
shall be is ued under date of ' . .7, 19 4LL, and approxi
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mat ly // a- of said bond ssue s a ' .e payable or before the
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day of • of each year thereafter, to and including
tne ek,day o ,i y 19
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3e, 5,-, This oy.'dinance '3. 3 one relati?....g to local imprcv
ments or asoe.r3si, _ therefor and Shall become effeeve immediately tii?on •
its passage., ao :oval and publicat:on as provided by ',he Ci'Ly Charter,
PA, 3ED BY THE CITY COUNCIL, signed and proved this ,?3_
day of 19d/
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