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0.44- ORDINANCE NO. 4 --,
REPEALED DV ORDINANCE N
/
AN ORDINANCE fixing the time of delinquency of installments of assess-
ments levied for the payment of the cost of the improve-
ment in Local Improvement District No.. %i" , and
providing for the issuance of Local Improvement District
,
Installment Notes for the payment of the unpaid portion
thereof.
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BE IT ORDAINED BY THE CITY OF YAKIMA:
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Section 1. That there is unpaid the sum of $/03\
for the improvement made in Local Improvement District No.
II I as created and established by Ordinance No. /C7 of the ordinances
of the City of Yakima, which shall be paid in /c equal annual
installments, the first installment to be paid on or before the
day of '''-r- 1 9/s - , with interest on the whole
unpaid sum at the rat, of 5/' per cent per annum, and each year
thereafter one of such installments together with interest thereon
and on the installments thereafter to become due at the rate of
per cen ser annum shall be due and payable on or before the
day of 4 ' in each year, and shall be collected the same
manner as is provided by law and the ordinances of the said City.
• Section 2. If any of the said installments of principal.or
interest are not paid on or before the 27d , day of l/Z- t - 1 of
each year in which the same shall be payable, as provided 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 Yakimavnd said delinquent assessments
• shall bear interest at the rate of per cent per annum until
paid and be subject to a charge of 1 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. *7 there shall be issued Local Improvement District Instal-'
lment Notes of the District payable oi4 of said District Funds, said
7 2--
notes to be in the total amount of) 6/0. 1 in the denomina-
tion of 5 2)--- each, and payable to the _;,/, !I
]) / i of the City of Yakima. Said notes-shall be
III numbered from upwards, consecutively, and shall bear interest at
the rate of 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 not less than once each year
for a period not to exceed / years.
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Section 4. This ordinance is one relating to local
1::::
effective
by
%.,
t.‘• .
the City Charter.
. PASSED :Y THE CITY COUNCIL, signed and approved this
day of (,..e.._ . , i94 V.
,,. Ti- /4.7 ,
ATTEST: Mayor
• / .,_
„1 . , - . . •
'' C • • y Clerk
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