HomeMy WebLinkAbout1965-688 ORDINANCE NO.
110
AN 'ORDINANCE fixing the time of delinquency of installments of
assessments levied for the payment of the cost the
• improvement in Local Improvement District No. ; ,
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:
Seeon 1. That there is unpaid the sum of S for
,-- made in Local Improvement District No as
created and established by Ordinance No. ,53 of the ordinances
of the City of Yakima, which shall be paid in /0 equal annual in-
stallment he first installment to be paid on or before the
day of / 19 66 , with interest on the whole unpaid sum
at th rate o </yer 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 4' per cent
per -.num sh411. be due and,payable on or before the day of
III in each year, and shall be collected in the same
m.• ner Is is _provided by law and the ordinances of the said City.
Section 2. If any of the said installments 0 pr. cipal,or
__interest are not paid on or before the day of
_ ,Agy y
of each year in which the same shall be payable, as 4- 11 rvid4 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 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.9 4.,\ there shall be issued Local Improvement Distribt ,
Installment:Notes of the District Payable out of said,District Funds,
said notes to in the total of $‘4Z7 c•1/2 in the denom-
ofA0 each, and payable to th-. • .
411 mpr . . -- the_Pity 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.
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 exced..
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 publicatipp as provided
by the City Charter. .
PASSED =T THE CITY COUNCIL, signed and approved this •
A:! day of , 19 ` .
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