HomeMy WebLinkAbout1961-238 . .
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ORDINANCE NO..
AN. ORDINANCE fixihg.the time of delinquency of installments of assessments levied
f6r the payment of the cost of the improvement in Local Improvement
District No.,./Trn the issuance of bonds with
for coupons attached the'payment of the unpaid portion thereof.,
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BE IT ORDAINED BY THE CITY OF YAKIMA:.
Section 1., That there is unpaid the sum of $4W„;362 for the
improvement made in Local Imlorovement District No.Af is created and estab-
lished by Ordinance No. A- of the Ordinances ofXhe City of Yakima, which
shall be paid in / equal annual • instal;ments first installment.to be paid
on orbefore the2 day (4. ___,.. 192, with interest on the whole
A ft unpaid.sum at the rate of 5z pe cent per annum, and each year thereafter one
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of such installments togetrreTiath:interest'thereon and on the installments there-
after to become due at the rate of per Celt per annum shall be due and pay-
able on or before the2,,....:-(-(day of :::1 in each year, and shall be coll-
ected in the same manner as is provided y law and the Ordinances of the said City..
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Section.2.. If any of the said installments of principal or interest
are not before theZ,./day of of each year in which the
shall
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same sha payable, as:provided in Section' 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, and said delinquent
assessments shall bear interest at the rate of � per cent per annum until paid
and be subjectito a charge of ,...4 per cent penalty upon both principal and inter-
est due thereon„ .
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Section 3. For the payment of the unpaid balance of the cost and ex-
pense of said improvement in said Local Improvement, District No. F;f;7 , there
S shall be issued bonds of the District in the sum of $/.. , said issue to
consist of 2.? bons in the denomination of ,..,5v each and one bond of the
denomination of $ ...3 -2 to be num ered from one upwards consecutively, and
shall bear interest At th e rate of V per cent per annum, payable annually on
the of 6-:, .each'yearl.the several installments of interest to
be evidenced by coup, s 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..
III Section I, The bonds provided for herein shall be substantially in
the form prescribed by Section 18 of No. amended of the Ord-:
in,.ces of City of Yakimai Washington. They shall be issued under date of
' 4 . 20. , 19'/ and approximately / -,IX' of said bond . .
sue shall be payable on orFTFEre the"day of ,00mmigr' of each year ,
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thereafter, to and including the , /day of .7 , 1973'.. \,....
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 BY THE CITY Calidgtittr, signed and approved this ,./.Peday of
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III . - All
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/ MAYOR
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Attest
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41)
/' ,,..: CITY CLERK
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