HomeMy WebLinkAbout1965-667 ORDINANCE NO. 47
III
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. ( 2/9
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 $ 2,07/\ for
the,imp7vement made in Local Improvement District No. C2/,? as
created and established by Ordinance No. •506- of the ordinances
of the City of Yakima, which shall be paid in /0 equal annual in-
,
stallments, he first installment to be paid on' or before the ALA
day of 19( , with interest on the whole unpaid sum
at the cza- e of 14 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
pev— num shall be due and.payable on or before the /4/Z day of
, in each year, and shall be collected in the same
. .
(5#nner as is provided by law and the ordinances of the said City.
Section 2. If any of the said installments of prkficipal,or
interest are not paid on or before the I/ day of 74A_--- 2
of each year in which the same shall be payable, as ggvided 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. 9/7 there shall be issued Local Improvement District
Installment Notes of the District Payable out of said,District Funds,
said notes to be in the total, amount of $ /077 \7 , 7' in the denom-
,7
ination of 35707/ 7 each and payable to the(
• _Fund_af'theQity of Yakima.
(lj
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 exceed
/2 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.
PASSErWTHE .CITY COUNCIL, signed and approved this
day of /t-IA , 19 C� .
Mayor QJ
ATTEST:
City Clerk
(2)