HomeMy WebLinkAbout1964-553 ORDINANCE NO.
AN ORDINANCE providing for the improvement of certain property by con-
structing a pipe sewer with the necessary wye branches and
manholes; establishing a Local Improvement District, pro-
viding for the method of payment thereof, and creating a
special fund.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That the following property shall be improved by con-
structing a pipe sewer with the necessary wye branches and manholes:
Lots 1 thru 9 and 11, 12 and 13 in Madera Heights; Lots 2
thru 15 inclusive in Schmidt's Uplands; Lots 1, 2, 6, 7, 8,
9, 12 in L. K. Buchanan Addition.
Section 2. There is hereby created a Local Improvement'District
to be called "Local Improvement District No. 928", which said district
shall include all of the property adjacent to the above mentioned im7
411 provements which are subject to assessments, said property being de-
scribed above.
Section 3. The assessments shall be made according to special
benefits derived from the improvements without regard to the zone and
termini method.
Section 4. All costs and expenses in connection with the construc-
tion of said improvement, including engineering, inspection, advertising,
publication of notices, and all other expenses incident thereto, shall
be levied and assessed against alt of the property legally and properly
assessable therefor as provided by law and as above described.
Section 5. All of the aforesaid construction work shall be in
accordance with the plans and specifications, profiles, maps and detailed
drawings which have been prepared by the City Engineer, filed with the
O City Clerk, and which are hereby approved and adopted.
• .
Section 6. All of the work necessary to be done in connection with
the making of said improvements shall be done and made by contract upon
competitive bids, and the City shall have the power to reject any and
all bids.
Section 7. There is hereby created a special fund, to be called
"Local Improvement Fund, District No. 928", into which shall be placed
all sums paid on account of the aforesaid special 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 said
bonds issued for said improvement.
Section 8. Bonds bearing interest at the rate of 4% per annum,
payable on or before 12 years from the date of issuance, shall be issued
in payment of the costs and expenses of said improvements, which bonds
0 shall be redeemed by the collection of special assessments to be levied
and assessed upon the property within said district, payable in ten equal
annual installments with interest at the rate of 4% per annum, interest
payable annually, under the mode of payment "payment by bonds", as de-
fined by the statutes of the State of Washington and the ordinances of
the City of Yakima; provided, that this improvement may be financed by
the issuance of promissory notes under the authority of RCW 35.45.150.
Section 9. 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 law and the City Charter.
PASSED BY THE CITY COUNCiL, signed and approved this lOth day of
August, 1964.
ATTEST:
Mayor
/ City Clerk
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