Loading...
HomeMy WebLinkAbout1960-154 ORDINANCE NO a 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 No0 880 and providing for the issuance of warrants for the payment of the unpaid portion thereof and repealing Ordinance No, 143 BE IT ORDAINED BY THE CITY OF YAKIMA: Section 10 That there is unpaid the sum of 3885053 for the imErovemen.t made in Local Improvement District No 880 as created and established by Ordinance No0 32 of the Ordinances of the City of Yakima, which shall be paid in 10 equal annual installments, the first installment to be paid on or before the 16 day of July 1960 with interest on the whole unpaid sum at the rate of 4 per cent per annum, and each year thereafter one of such installments 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 III or before the 16 day of July in each year and shall be collected in the same manner as is provided by law and the Ordinances of the said City. Section 20 If any of the said installments of principal or interest are not paid on or before the 16 day of July of each year in which the same shall be payable as provided in Section. 1 hereof 9 the same shall thereupon become and be delinquent and shall 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 4 per cent per annum until paid and be subject to a charge of 5 per cent penalty urpon 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 . • . District No. 880 'heee shall be 13:311e(i, warrants og the District in the sum of $885.53© said issue to consist of 11 warrants in the de- ll/ nomination of 675.00 each and 1 warrant of the denomination of $60053 to be numbered from three upwards consecutively and shall bear inter- est at the rate of 4 per cent per annum 9 payable annually on the 5 day of August each year and both principal and interest shall be payable at the office of the City Treasurer in the City of Yakima Washington. Section 4® The warrants provided for herein shall be issued under date of August 5 1960 and will mae 12 years from date of issue August 5 1972 and will be called for redemption at par in numerical order on any interest-bearing date whenever there shall be - sufficient money in the district fund over and above interest requirements. ., Section 5. This Ordinance is one relating to local improve- ments or assessments therefor and shall become effective immediately upon its passage approval and publication as provided by City Charter. • Section 6 That Ordinance No 143 is hereby repealed. PASSED BY THE CITY COUNCIL signed and approved this 17n day of August 1960. mee IMPF/ e ( '#) layor ATT:ST: • 4 y