HomeMy WebLinkAbout1961-231 Z-
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- OnDTANCE NO
0 AN ORDINANCE fixing the time of delinquency of installments of
assessments levied for the payment of the costqyhe
improvement in Local Improvement District No. v and
providing for the issuance of bonds with coupons attached
for the.payment, of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of $:7 J _
for the improvement made in Local Improvement , istrict No./,' as
• created and established by Ordinance No. 4 1 of the Ordinances of
/D
.the City of'Yakima, which shall be paid in .. equal annual install-
ts, the first ins to be paid on or before the „day of
19 6L-i with interest on the whole unpaid sdii1 at the
rate o - per cent per annum and each year thereafter one of such
instalimen together with. interest thereon and on the installments
thereafter to become due at the rate of perjcent per annum shall
be due and payable on or .before the 2a: ay of _ _.((_ in
.. each year and shall be collected in the same manner as is provided by
law and the Ordinances of the said City.
. .
Section 2. If any of the said installments of princical
or interest are not paid on or before the " day of - , - -.
of each year in which the same shall be pak451Ii, as provide. in ection
1 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
lip 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
_L.
subject to a charge of 3-7 p i r cent penalty upon both principal and
interest due thereon,
Section 3. For the payment of the unpaid balance of the
cost ap4,expense said improvement in said Local Improvement District •
7 4Yrdi.dr:,H_: , there shall be issued bonds of the istrict in the sum
said issue to consist of bonds in the
ec r-
deno at of ,_ each and one b d of the denomination
of $ / to be ttumbered from on upwards consecutively, and
shall bear interest at the rate of per cent per annum, payable
annually on the znL, day of '; each year, the several in-
stallments of interest to be ev*denced by coupons attached to said
bonds and both principal and interest shall be payable at the office of
the City Treasurer in the City of Yakima, Washingtom,
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Section/4. The bonds provided for herein shall be sub-
stantially in the form prescribed by Section 18 of Ordinance No. A-192
as amended of the Ordinances of the City of Yakima, Washington. They
/
shall be i sued. un ,7
der date of d ,,,, - ... , 19 6
,i _, and approxi-
mately / E. /*f said bond sue - s a 1 payable on or before the
/7ti-da of
AQ
''
...,.../ of each year thereafter, to and including
the /-day so ' AP - , 1972 ..
III
(1)
Section 5 This ordinance is one relating to local improve-
ments or assessments therefor and shall become effective immediately upon
its passage, approval and publication as provided by the City Charter.
III PAFSED BY THE CITY COUNCIL, signed and approved this ,.2,ft
day of _ 19 4 .
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ATTEST:
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III
(,,)