HomeMy WebLinkAbout1964-549 ORDNANCE NO.
111 AN ORDINANCE providing for the improvement of a portion of South 28th
Avenue by widening the same to accommodate on-street
angle parking; 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 I. That the following street shall be improved and widened
to accommodate on-street angle parking:
South 28th Avenue from Walnut Street to approximately
250 feet South thereof.
Section 2. There is hereby created a Local Improvement District,
to be called "Local Improvement District No 926", 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. Th. assessments shall be made according to special
benefits derived from the improvements without regard to the one and
termini method.
Section 4. All costs and expenses in connection with the construc-
tion of said improvement, including the cost and expense of engineering,
inspection, advertising, publication of notices, and all other expenses
incident thereto, shall be shared by all of the property within •said
local improvement district and the City of Yakima.
Section 5. All of the aforesaid construction work shall be in
accordance with the plans and specifications, profiles, maps and de-
ll tailed drawings which have been prepared by the City Engineer, filed
with the 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 improvement 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 926", into which shall be placed
all sums paid on account of the aforesaid special 'assessments, includinq
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.
Section8. Bonds bearing interest at the rate of O. per annum,
payable on or before 12 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 specie/ 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 defined 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 R.C.W. 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 iaw and by the
• City Charter.
PASSED BY THE CITY COUNCiL, signed and approved this 3rd day of
August, 1964.
ATTEST / • 2
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