HomeMy WebLinkAbout1961-237 1 ,
ORDINANCE NO. -
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.11:5:, and providing for the issuance of bonds with
coupons attached for the payment of the unpaid portion thereof.
411
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of $9 49,27 for the
improvement made in Local Improvement Distridt No. ;%--- /as created and estab-
lished by Ordinance No. / 2,z- of the Ordinances of the City of Yakima, which
shall be paid in /12 equal annual installments, the first installment to be paid
on or before the 2.,,,T4I'day of oW , 197--, with interest on the whole
0 unpaid sum at the rate of per/cent per annum, and each year thereafter one
of such installments togeth r with interest thereon and on the installments there-
/
after to become due at the rate of f= per cent per annum shall be due and pay-
able on or before the 7.44‘,/day of ---- in each year, and shall be coll-
ected in the same manner as is provided b-Y law and the Ordinances of the said City,
Section 2. If any of the said in tallments of principal or interest
are not paid on or before the-iday of .„ Y of each year in which the
same shall be 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 p..- per cent per annum until paid
and be subject to a charge of _5" per cent penaty upon both principal and inter-
est due thereon.
,
1 Section 3. For the payment of the unpaid balance of the cost and ex-
pense of said improvement in said Local Improvement District No. ,P,k , there
As shall be issued bonds of the District in the sum of gi , said issue to
INF consist of / bonds in the denomination of ,1'... 16 edch•gnd one bond of the
denomination $/c9.27 to be numbered from one upwards consecutively, and
shall,,bear interest at tae rat of 5Z( per cent per annum, payable annually on
the -04"'day of ;,. ' each'year, the several installments of interest to
be evidenced by coupons'attached to said bonds and both pr'ncipal and interest
[ shall be payable at the office of the City Treasurer in the City of Yakima, Wash-
; ington.
411 Section 4. The bonds provided for herein shall be substantially in
the form prescribed by Section 18 of Ordinance No as amended of the Ord-
in es pf,the City of Yakima:Washington. They shall be issued under date of
.,-.-24r,?..
.-YL--
, 19 , and a roximately /*/ e, of said bond
i ue shall be payable on or before the _ day of ■ of each year
1 thereafter, to and including the .W day of !, , 9A_Y
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.
detee-"f-ez-Z---
,FA6SED BY THE CITY Gemr1-1,3N, signed and approved this 7' of
) 1 9 777. -
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- d9* - 1
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MAYOR
• Attest:
I 'Se./ --4 -• " ' •
CITY CLFRK