HomeMy WebLinkAbout1964-504 ORDINANCE NO.
AN ORDINANCE Providing for the improvement of certain property by grading,
11 0' ballaSting, surfacing w4th asphaltic concrete, constructing
concrete curbs and Otters, 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 I. That the following streets shall 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 five.feet in Width on one side of the
street only:
South 16th Avenue from Lenox Avenue to Mead Avenue.
Section There is hereby created a Local improvement District,
to be called "Local Improvement District No 917," which said district
II I shall include all .of the property adjacent to the abeve-mentioned
improvements which are subject to assessments.
Section 3. The. Shall be made according to special
benefits derived from the improvements without regard to the zone. and
termini method.'
•
Sectien4. There shall be levied and assessed upon all of the pro-
perty embraced within said Local Improvement District an amount not to
exceed 30S of alt 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
40 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-
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 ict No. ," 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
40 bonds issued for said improvement.
Section 8. Bonds bearing interest at the rate of 47. 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 rriprovement, 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
of R.C.W. 35.45.150.
III Section 9. This ordinance is one relating to local improvements
or assessments therefor, and shall become effective immediately upon
-2-
• its passage, approval and publication as provided by law and by the
City Charter,.
PASSED BY THE C1TY COUNCiL, signed and approved this 9th day of
March, 1964.
Mayor
ATTEST:
/City Clerk
•
-3-