HomeMy WebLinkAbout1964-600 A-
ORDINANCE NO. 50
4 10
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. y,/,/ ,
and providing the issuance of Local Improvement
District Installment Notes for the payment of the un-
paid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of 3/ for
the improvement made in Local Improvement District No. 524% as
created and established by Ordinance No. 4 of the ordinances
of the City of Yakima, which shall be paid in /0 equal annual in-
stallments, the first installment to be paid on or before the
day of ( 74.,..)7./-epv-K._4,/, 194 interest on the whole unpaid.sum7,
at the rate of e--/ per cent per annum, and each year thereafter
one of such installments. together with interest thereon and onthe
installments thereafter to become due at the rate of 5/ per cent
_per. annum be due and on or before the day of
• rim-r-e.444.,,,,, in each year, and shall be collected in the same
manner as is provided by law and the ordinances of the said City.
Section 2. If any of the said installments af_principal,or
interest are not paid on or before the 2;7Zkday
of each year in which the same shall be payable, as provided in
Section 1 hereof, 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 de-
linquent assessments shall bear interest at the rate of per
cent per annum until paid and subject to a charge of 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 Dis-
trict No. - ii/// there shall be issued Local Improvement District
Installment Notes of the District Payable out of saidDistrict Funds,
said notes to be in the total amount of in the denom-
1 i
ination of S each, and payable to the . '
Fund af the City of Yakima.
(1)
Said notes shall be numbered from One upwards, consecutively, and
shall bear interest at the rate of z.,‘ per cent per annum.
111 Application of Local Improverrient District funds for the reduction
of the principal and interest amounts due on said notes shall be
made not less than once each year for a period not to exceed
/2/ years.
Section 4. This ordinance is one relating to local im-
provements .or assessments therefor and shall become effective
immediately upon its passage, approval and publication as provided
by the City Charter.
PASSED ;Y THE CITY COUNCIL, signed and approved this
/day of , .
,
Mayor
ATTEST:
•
Cferk
(2)