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HomeMy WebLinkAbout1960-153 4 ORDIYAME 111 AN ORDINAITCE providing for the improvement of certain property by grading ballasting y surfacing with asphaltic conci.ete; establishing a Local Improvement District providing for the method of payment thereof, and creating a special fund, BE IT ORDAINED BY THE CITY OF YAKIMA: Section g© That the following Alley shall be improved by glnqiingb lr-11 rAapaitic concrete: Alley in Block 310 Ter ®s Second Addition, All of said improvements shall be constructed in full accordance with the plans and specifications prepared by the City Engineer and filed with the City Clerk, Section 2© There is hereby created a Local Improvement District to be called "Local improvement District which said district shall include all of the property adjacent to the above—mentioned improvements which are subject to assessments said property being described above. Section 3, The Assessments shall be made according to special benefits derived from the imProvements without re to the zone and termini method© Section 4, All costs and expenses in connection with the construction of said improvements including the cost and expense of engineering inspectien advertising y publication of notices 9 and all other expenses incident thereto shall be levied and assessed upon all of the property embraced within said Local improvement — District in the manner and as provided by the Laws of the State of Washington 411 k 4 and the ordinances of the City of Yakima; and said City shall not be liable in any manner for any portion of said costs and expenses 11 1 of said improvement, Section 5 All of the aforesaid construction work shall be in accordanee with the plans and specifications profiles, maps and detailed drawings which have been prepared by the City Engineer, filed with the City Clerk, and which are hereby approved and adeoted. Section 5. All of the work necessary to be done in connec- tion with the making of said improvement shall be done and made by contract upon competitive bids; and the City shall have the power to reject any and all bide. Section 70 There is hereby created a special fund, to be called "Local improvenent Fund District No© en" into which shall be placed all sums paid on account of . he aforesaid epecial 11 , assessments, including all interest, and penalties thereon and in the event of the sale of local improvement bonds by the City, all premium and interest on s_id bonds issued for said improvement. Section Z Boeds bearing interest at the rate of per annum, payable on pr before 2 :years from the date of issuance shall be issued in payment of the costs and expense of said improvement, which bonds shall be redeemed by the collection of special assessments to be levied and assessed upon the property within eaid district payable in ten equal annual -installments with interest at the rate of per annum, interest payable annually under the mode of payment "payment by bonds", as defined by the statutes of the State of Washington and the ordinances of the City of Yakima. -2- Section This ordinance is one relating to local iMprovements or assessments therefor s and shall become effective • immediately upon itp passage, approval and publication as pro- vided by law and the City Charter. PASSES BY TIE CITY COUNCIL, signed and approved this day of August, 1960. . ayor ' ATTESTo + " -/ r . : __., erk • • • •