HomeMy WebLinkAbout1964-544 ORDINANCE NO.
AN ORDINANCE providing for the improvement of certain property by grading,
111 ballasting, surfacing with asphaltic concrete, constructing
concrete curbs, gutters and sidewalks, together with necessary
drainage features; 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 1. That the following streets shalt be improved by grading,
ballasting, surfacing with asphaltic concrete, constructing concrete
curbs and gutters, together with necessary drainage features, and by
constructing a concrete sidewalk on one side of the street only:
South half of Nob Hill Boulevard from South 24th Avenue to
South 28th Avenue.
SOuth 24th Avenue from Nob Hill Boulevard to Clinton Way.
Sedtion 2. There is hereby created a Local Improvement District,
to be called "Local Improvement District No •924," which said district
shall include all of the property adjacent to the above mentioned
improvementwhich are subject to assessments.
Section 3. The assessments shall be made according to special bene-
fits derived from the improvements wthout regard to the zone and termini
method.
Section 4. There shall be levied and assessed upon all of the pro-
Perty embraced within said Local Improvement District an amount not to
• exceed 30% of all costs and expenses •in connection with the construction
of said improvements, including the cost and expense of engineering, in-
spection, advertising, publication of nOtices, and all other expenses
incident thereto, to be levied and assessed in the manner and as provided
by the laws of the State of Washington and the ordinances of the City of
Yakima. The remaining costs and expenses of said improvements shall be
paid by the City.
Section 5. All of the aforesaid construction work shall be in
accordance with the plans and specifications, profiles, maps and de-
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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 Mo. 924," 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 expense of said improvement, which
bonds 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 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
40 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
r
Its passage, approval and publication as provided by law and by the
City Charter.
PASSED BY THE CITY COUNCIL, signed and approved this 27th day of
July, I964®
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Mayor . - 17-9
ATTEST:
Oty Clerk
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