HomeMy WebLinkAbout1964-528 ,
4 0RDINANCE NO.-5 r
'7 EV ORDINANCE NO: P
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. 99 , and
providing for the issuance of Local Improvement District
Installment Notes for the payment of the unpaid portion
thereof,
BE IT ORDAINED BY THE CITY OF YAKIMA:
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Section 1. That there is unpaid the sum of $//V 7 C 7
for the improvement made in Local Improvement District No. a (-7/
• as created and established by Ordinance No......?7 , of the ordinances
of the City of Yakima, which shall be paid in /0 equal annual
installments, the first installment to be paid on or before the
day of , 19C.J , with interest on the whole
7/ m
unpaid sum at the rate. of /27 per cent per annum, and each year
thereafter one of such installments together with interest thereon
and on the installments thereafter to become due at the rate of
per cent_per annum shall be due and payable on or before the ..7.4,-
day of " in each year, and shall be collected in the same,
manner as i provided by law and the ordinances of the said City.
• Section 2. If any of the said installments of principal,or
interest are not paid on or before the 22....., of ze,___6, , of
each year in which the same shall be payable, as providedYn Section 1
hereof, the same shall thereupon become and be delinquent and shall
be collected as provided by the laws,of the State of Washington and
the ordinances of the City of Yakima, d said delinquent assessments
shall bear interest at the rate of qper cent per annum until
• paid and be subject to a charge of _5 - 0 per cent penalty upon both
principal and interest due thereon. /
Section 3. For the payment of the unpaid balance of the cost
and expense of said improvement in said Local Improvement District
No. 5 2 05 2( there shall be issued Local Improvement District Instal-
lment Notes of the District payabl$,out of said District Funds, said
• notes to be in the total amount of 1 in the dmina-
7u
:22:22/2 each, and payable to the . , ..a_..( /7 - ./
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Fund of the City of Yakima. Said notes shall-be
III numbered from One 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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III -
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Section 4. 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
the City Charter,
PASSE: THE CITY couN7 signed and approved this
day of , 196, .
op
A,
ATTEST: Mayor
•
c it y Clerk
•
•
•
(2)