HomeMy WebLinkAbout1961-214 ORDINANCE Nob „221,z___
III AN ORDINANCE fixing,the time of delinquency of installments of
assessments levied for the payment of the cost of the
improvement in Local Improvement District No 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 $ /442,LIES
for the improvement made in Local Improvement District No® as, • .
created and established by Ordinance No of the Ordinances of
the City of* i
Yakima, which shall be paid n /0 equal annual install-
mpts, the first installment to be paid on or before the day of
. 19 ‘ z7 2 4. with interest on the whole unpaid Stith at the
9 9
ate o „(eff per cent per annum, and each year thereafter one of such
installme'ts 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 • Z in
. each year, and shall be collected in the same manner as i-m5rovided by
law and the Ordinances of the said
Section 2. If any of the said installments • principal
or interest are not paid on or before the,,040e.„ day of -
of each year in which the same shall be paY4b as pro i in action
1 hereof, the same shall thereupon become and be delinquent and stall
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 interest at the rate of L per cent per annum until paid and be
subject to a charge of 5 , per cent penalty upon both principal and
interest due thereon,
Section 3. FOr the payment of the unpaid balance of the
cost and expense of said improvement in said Local Improvement Distridt
No -- ;;K,/, , there shall be issued bonds of the District in the sum
of $ 0 _ 9 said issue to consist of -22 bonds,in the
denomination o -4E70 each and one bOnd of the denomination
of $ to be numbered Trorn one upwards consecutively, and
shall bear interest at the rate of . per cent per annum, payable
_ .
annually on the ,f. of each year, the several in-
stallments of interest to be evidenced by coupons attached to said
bonds and both principal and interest shall 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 of the Cit. of Yakima, Washington. They '
shall be is ed. under date of , 19 4/ , and 4pproxi-
mately laa- of said bond ssue s a.' payable on or before the
.2DIL day of of each year thereafter, to and including
day o 19
411
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Se tion 5 This ordinance is one relati:g to local improve-
ments or assess l ants therefor and shall become effec immediately upon
its passage, an -oval and publication as provided by the City Charter<
• PL SED HY THE CITY COUNCIL, signed and proved this
day of 54,61 I; 19
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ATTEST:
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- C:r7T CLERK
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