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HomeMy WebLinkAbout1963-410 E p Au iWiRitm ,.. i# , ORDTNANCE HO. .4" AN ORDINANCE providing for the improvement of certain property by con- structing-a pip sewer with the necessary wye branches • . and manholes; establishing a Local. Improvement District,. providing for the method of pay thereof, and creating - - a-special-fund.,- . . BE IT ORDAINED BY THE .CITY OP YAKIMA: . . Section I, That the .following property shall be improved by con- structing a pipe sewer with the necessary wye branches and manholes: .-' Lots 1 .11, inclusive,. Horizon Heights Addition'and Lot 3O Edgecliff Bection 2. There is hereby created a Local ImproVement District to be called "Local Improvement District No , which said district shall include all of the property adjacent to the above mentioned im... provements which are subject:to ,assessments, said property being described above, 111 Sect1oz00 The assessments shall be made according to special benefits derived from the improvements without regard to the zone and termini method. Section 4. Ali costs and expenses in connection with thecon- struction of said improvement, including the engineering t inspection, advertising, publication of notices, and all other expenses incident thereto, shall be• and assessed against all of the property . legally and property assessable therefor as provided by law and as, above described. Section 5, All of the aforesaid construction work shall be in aceordance with the plans and specifications, profiles, maps and de- . tailed drawings which have been prepared by the City Engineer N filed • with the City Clerk and which are hereby approved and adopted, Section 6. .Ail of the work necessary to be done in connection with . _,.. . .....,7- . . • L . . . ,.• . -:. . the mai-rtAP: of said JmproVPments shall be done and made by contract upon .comPetitive bid s and he City shall have the power to reject any and AI On all bids. Section 7. There is hereby created a special fUndl to be cal;ted "Local Improvement Fund „ District No lir," 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 e of said improvements, which bonds shall be redeemed by the collection of special asse8sments to be levied and assessed upon the property within .said district, payable in ten equal ", ahrtualinstallments with interest at the rate of 40 per annum,' interest _ payable annually„, under the mode of payment "payment by bonds„" as .de fined 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 RC'.! 35,45.150. _ . Section 9. 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 law and the City Charter PASSED BY THE CITY COUNCTL„ s3g and approved this 7th day of January.. 1963. ' - (--..•.••• .• . . . - A. -.....e --...c., . • w - •- - K . • WR.VOlf ' — a - ATTEST: • „00-' • / , ,-- ; --2-. .