HomeMy WebLinkAbout1964-503 ORDINANCE NO
• AN ORDINANCE providing for the improvement of certain property by grading,
ballasting, surfacing with asphaltic concrete, constructing
concrete curbs and gutters, 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 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 d
the street only
Lend): Avenue from South 3rd Avenue to South 16th Avehue.
Section 2. There is hereby created a Local Improvement District,
to be called "Local Improvement District No 916," which said district
11 1 shall include all of the property adjacent to the above-mentioned
improvements which are subject to assessments.
Section 3. The assessments shall be made according to special bene-
-,
fits derived from the improvements without 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
411 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.
Sector! All of the aforesaid construction work shall be in
ll accordance with the plans and specifications, profiles, maps and de-
tailed drawngs 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 improvememt 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 No. 1 01,- 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 egpense 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.
Sectign 9. This ordinance is one relating to local improvements
or assessments therefor, and shall become effective immediately upon
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its pasSage, apOrbVal and publication as provided by taw and by the
City Charter.
PASSED BY THE CITY COUNCgL, signed and approved this 9th day of
March, 1964.
d'
Mayor
ATTEST:
City7Clerk
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