HomeMy WebLinkAbout1964-566 . .
ORDINANCE NO.
AN ORDINANCE fixing the time of delinquency of installments of assess-
ments levied for the payment of the cost bf the improve-
ment in Local Improvement District No ,9;2e", ; and
providing for the issuance of Local Improvement District
Installment Notes for the payment of the unpaid portion
III 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. *6
as created and established by Ordinance No. Y of the ordinances
of the City of Yakima, which shall be paid in /0 equal annual
installments, theit:t installment to be paid on or before the
/- "'• day of „47.7,-, 196J with interest on the-whole
unpaid sum at the rate of /, per cent per annum, and each year
thereafter one of such instalments together with interest thereon
and on the installments thereafter to become due at the rate of
per cent per annum shall be due and payable on or before the /2t4--
day of .-" -'- 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 of • incipal,or
interest are not paid on or before the --- /2/z - - day of d' , 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 delinquent assessments
shall bear interest at the rate of '/per cent per annum until
paid and be subject to a charge of.. _S 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 District
No. ;l4 there shall be issued Local Improvement District Instal-
lment Notes of the District payable out of said District Funds, said
notes to be in the total amount of the denomina-
tion of ' 1 1- `.0e7), ( 2) ”; each“ and payable to the
/
> '
....r... Fund of the City of Yakima. Said notes shall be
III numbered from One upwards, consecutively, and shall bear interest at
the rate of - / I cZ; per cent per annum. Application of Local Improve-
,
ment District funds for the reduction of the principal and interest
amounts due on said notes shall be made no1 . less than once each year
for a period not to exceed / 7 - years.
• _ . .
. .
(1)
Section 4 This ordinance is one relating to local
improvements or assessments therefor and shall become effective
immediately upon its passage, approval and publication as provided by
the City Charter.
41 PASSED BY THE CITY COUNCIL, signed and approved this
--- day of 1965
ATTEST: Mayor
1
7
ill
(2)