HomeMy WebLinkAbout1965-689 ORDINANCE NO 64?
411
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. c/23 ,
and providing for the issuance of Local Improvement.
District Installment Notes for the payment of the un-
paid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of
-t#11ilivrovement made in Local Improvement District No. ( as
. created and established by Ordinance No. .e-5 the ordinances
of the City of Yakima, which shall be paid in /0 equal annual irk,
stallmen the first installment to be paid on or before the 3/qd
day of Igrci , 19 , with interest on the whole unpaid sum
at th- ate' of YZ per cent per annum, and each year thereafter
one of such installments together with interest thereon and onthe
installments thereafter to become due at the rate of per cent
pe- nuM sh*!1 be due and payable on or before the e -/ - day of
Aim , in each year, and shall be collected in the same
'METnne as is provided, by law and the ordinances of the said City.
Section 2. If any of the said installments of v$ncipal,or
e _1„1-1-,tere . sti are not paid on or before the „ of
of each year in which the same shall be payable, 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 sal de-
linquent assessments shall bear interest at the rate of . per
cent per annum until paid and be subject to a charge of 5 per
cent penalty upon both principal and interest due thereon.
Section 3. For the payment of the unpaid balance of the
cost and wense of said improvement in said Local Improvement Dis-
trict No. C 7'13 there shall be issued Local Improvement District
Installment:Notes of the District Payable out of said,District Funds,
said notes to b- in the total amount of S ///0‘ 6--; in the denom-
, 1
Anation of !. - aa each, and payabie to j .
• 0
4 i uiLoftb. P it y of Yakima.
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Said notes shall be numbered from One upwards, consecutively, and .
shall bear interest at the rate of � per cent per annum.
• A.ppiication of Local Improvement District funds for the reduction
of the principal and interest a.=.nounts due on said notes shall be
made not less than once each year for a period not to exceed
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.
PASSED :Y THE CITY' COUNCIL, signed and approved this
/(a ��i day of `) __ , lam'
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dr
Mayor
• ATTEST:
7 / 1 /1---/C
City Clerk
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