HomeMy WebLinkAbout1964-534 ORDINANCE NO
AN ORDNANCE providing for the improvement of certain property by crading,;
ballasting, surFacing with asphaltic concrete, constructina
concrete curbs and gutters, together t necessary drainace
features; estabiishing a Local improvement District, provid-
ing for the method of payment thereof, and creating a special
fund.
BE IT ORDAMEn BY THE CITY O YAKIMA:
Section L, That the ftliowina street hal,1 be improved .by grading,
ballasting, surfacing with asphaltic concrete, constructing concrete
curbs and gutters, tooether with necessary drainage features, and by
constructino a concrete sidealk five feet in width on one side of
the street only:
Summitview Avenue from 40th Avenue-to 42nd Avenue,
Section 2. There is hereby created a Locai improvement District,
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to be called 'Local improvv,lent District No 922', which said district
shall include all of the property adjacent to the above mentioned
improvemc which are subject to assessments.
Section 3. The assessfilents shall be made according to special
benefits derived from the improvements without regard to the zone and
termini method. -
Section 4. There shalt be levied and assessed upon all of the pro
perty embraced Ivithin said Local Improvement District an amount not to
exceed 30 of aH costs and Pxpenses in connection kiiith the construction
of said improvements, ?Icluding the cost and expense of engineering, in-
apaction, advertisinq, publication of notices, and all other e;.f.penses
dent thereto, to be k: and assessed in the manner and as provided
by the las of the State of Washington ...2nd the ordinances of the City of
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Yakim'a, The remainino cots and eApenses of said improvements shal be
III paid by the Cty. . . .
Section 5 Ali of the aforesaid construction li()ork shall be in
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accordance th the .plans, and specifications, profiles ,mapt and de-
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tailed drawings which have been prepared by the City Engi!neer, 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 shaH be done and made by contoact '
upon competitive bids, and the City shall have the power to reject
any and a bids. . .
Section_7. There is hereby created a special fund, to be called
"!ocal. improvement Fund, D'istrict No 923", into which shall be placed
III all sums paid on aCcount =of theaforesaid'special assessments, includi.nr
all interest and penalties thereon, and in the event of the a1 of
. local improvement bonds by the City, all premium and interest on said
bonds issued for said improvement. ,
Section 8. Bonds bearinc.j'intere rata of at the rat of - per annum,
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payable on OF before 12 years from the date of issuance, shat be
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issued in payment of the costs and expense of said improvement, which
bonds shall be redeemed by thzii coilecton of specia; assassmente to be
levied and asses d upon te property within said district, payable in
ten equai annual 'instaii5ents .w interest at the rate of ii-% per
annum, interost payable annually under the mode of paynt 'payi2ent by
bonds", as defined by the statiAes of the State of i:Ja(zhincton and the
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ordinances of the City of YakiLla; providedthat, this improvPment may
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be financed by the Is of promizsory nots, under the auth ority
of RCW 35.45.150.
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