HomeMy WebLinkAbout1965-712 ORDINANCE NO.
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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. 93Z
and providing for the issuance of Local Impro ement
District Installment Notes for the payment of the un-
paid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Sai.on 1. That there is unpaid the sum of S,.Y for
/-, made in Local Improvement District No. q5. as
created and established, by Ordinance No. of the ordinances
of the City of Yakima, which shall be paid in (f() equal annual in-
stallmentA the first installment to be paid on or before the ZL
day of 4. , 194(01r, with interest on the whole unpaid sum
at the rate of , per cent per annum, and each year thereafter
one of such installments together with interest thereon and on the
installments thereafter to become due at the rate of y per cent
p-/ annum sh'411. be due and on or before the day of
III 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 o
nzterest are not paid on or before the day o
of each year in which the same shall bepayable, as provided in
Section 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 ordinances of the City of Yakima, and said de-
linquent assessments shall bear interest at the rate of 2Z per
cent per annum until paid and be subject to a charge of per
cent penalty upon .both principal and interest due thereon.
Section 3. For the payment of the unpaid balance of the
cost and expense of said improvement in said Local Improvement Dis-
trict No.3,t there shall be issued Local Improvement DistriOt
Installment . Notes of the District Payable out o syd,District Funds,
said notes to-be in toe total.amount„ of S33 in the denom-
inAfon of 3.
each, and payable to the ,
• ip
e. - tb9 - ity of Yakima.
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III Said notes shall be numbered from One upward, consecutively, and
shall bear interest at the rate of 7/ per cent per annum.
Application of Local Improvement. District funds for the reduction
of the principal and interest amounts due on said notes shall be
made not less than once each year for a period not to exceed
/V years, ,
Section 4. This.ordinance is one relating to local im-
provements or assessments therefor and shall become effective
immediately upon its passage, approval and publication as provided
by the City Charter.
PASSE BY THE CITY COUNCIL, signed and approved this •
2-e day
. , 19KS
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L ' ‘'' #41011 -■ _ • f . _.,-
Mayor
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ATTEST: •
----- ' City Clerk
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