No preview available
HomeMy WebLinkAbout1965-666 z ORDINANCE NO. • AN ORDINANCE fixing the time of delinquency of installments of assessments levied for the payment of the cost 94 the , improvement in Local Improvement District No. ( ea" 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 SAy7Z-05 ": for tite made in Local Improvement District No. qz as created and established by Ordinance No. i5 of the ordinances of the City of Yakima, which shall be paid in /0 equal annual in- stallment the first installment to be paid on or before the day of , 19 , 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 - per cent per shall be due and payable on or before the L. ----7Z-4 day of , in each year, and shall be collected in the same er as is provided by law and the ordinances of the said City. Section 2. If any of the said installments of pr'ncipal, or _i.nt,:i-e5t are not paid on or before the (:=7 day of /Jib 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 said de- linquent assessments shall bear interest at the rate of -4 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 expense of said improvement in said Local Improvement Dis- trict No. 9/er 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 64/ in the denom- # in..n of $ each, and payable to the • ,Furid_of the, Pity of Yakima. -- (1) • 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 years. Section L.. 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 THE CITY COUNCIL, signed and approved this • 2/ day of 195 1 4 -o l At19‘ -± Mayor • ATTEST: 7,/ A ityCer • • (2)