HomeMy WebLinkAbout1961-239 . ,
ORDINANCE NO. 23
AN ORDINANCE fixing the time of delinquency of installments of assessments levied
for the payment of the cost of the improvement. in Local Improvement
District No.,', and providing for the issuance of bonds with
coupons attacded for the payment of the unpaid portion thereof.
0 BE IT ORDAINED BY THE CITY OF YAKIMA:
o6
Sectior1,1. That there is unpaid the s of $A for the
improvement made in; Improvement District No .., as created and estab-
lished by Ordinance No., y of the Ordinances 6f the City of Yakima, which
shall be paid in /0 equal annual installments, the first installment to be paid
on or before they/ day of , 192, with interest on the whole
unpaid sum at the rate of ,ii-- pefr cent per annum, and each year thereafter one
of such installments - together with inteyest thereon and on the installments there-
40 after to become due , at the'rate of f` per ce, t per annum shall be due and pay-
able on or before theZ of z,;,_,, :,'" in each year, and shall be coll-
ected in the same manner aS is provid5. .y 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 peforp the day of 41d of each year in which the
same shall be payable, as p"rovided in Section hereof, the same shall thereupon
become and be delinquen and shall be collected as provided by the laws of the
State of WashingtOn.:and, the Ordinances of the City Yakima, and said delinquent
assessments shall bear,.interest at the rate of y‘- per cent per annum until paid
and be subject to 4., charge of $ per cent, penalty upon both principal and inter-
est due thereon.
Section 3• ' For the payment of the unpaid balance of the cost and ex-
pense of said improvernent;:in, said Local Improvement District jo. , there ,
shall be issued bonds of- the District in the sum of 3 47 I said issue to
consist of 45 bond/ i the denomination of :it el each and one bond of the
410 denomination of $ 6 ° t.4 - to be n4mbered from on upwards consecutively, and
shall bear interest a the rate of ,L cent per annum) payable annually on
the23fday of ' each year, the several installments of interest to
be evidenced by coupon attached to said bonds and both principal and interest
shall be payable at the office of the City Treasurer in the City of Yakima, Wash-
ington.
Section L. The bonds provided for herein shall be substantially in
the form prescribed by Section 18 of Ordinance No._ A 7/7Avas amended of the Ord-
. inances of ity of Yakima Washington. They shall be i sued under date of
_ , 196,7 , and approximately / /ae', of said bond
3.,sue shall •e payable on or before the zliday of „ " of each year
thereafter, to and including the ,23„ of a../4.:, , 197
.
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Section 5. 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 City Charter,
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PASSED B) THE CITY - GiiittieliaiET, signed and approved this -,...,._.& day of
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MAK ,... 13. -e_,
Attest:
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/ / - CITY CLFnic
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