HomeMy WebLinkAbout1965-635 ORDINANCE NO. ____
•
AN ORDINANCE providing for the improvement of certain property by
constructing the necessary mains, fire hydrants, valves
and other appurtenances for the purpose of supplying
water for domestic use and fire protection; establishing
a Local Improvement District, providing for the method
of payment thereof, and creating a special fund.
BE IT ORDAINED BY THE CITY OF YAKIMA:
S ection I. That certain property in the City of Yakima, Washing-
ton, shall be improved by the construction of necessary mains, fire
hydrants, valves and other appurtenances for the purpose of supplying
water for domestic use and fire protection, said improvements to
serve the property within the City of 'Yakima described as follows:
All lots in Tri- Addition.
Section 2. There is hereby created and established a Local
III Im-
provement District to be called "Local Improvement District No "
which said district shall include all of the property described and
set forth above.
Section 3. The assessments shall be made according to special
benefits derived from the improvements without regard to the zone and
termini method., /
Section 4. A portion of the costs and expenses of said improve-
ment, including engineering, inspection, advertising, publication of
notices, if any, and all other expenses incident thereto, shall be
levied and assessed against all of the property legally and properly
assessable therefor, as provided by law and as above described, and
III the balance of said costs and expenses shall be borne by the City
Water Department in accordance with Resolution No C1051.
Section 5. All of the aforesaid construction work shall be in
411 accordance with the plans and specifications, profiles, maps and de-
tailed drawings which,have been prepared by the City Engineer, filed
with the City Clerk, and which are hereby approved and adopted. All
of the work necessary to be done in connection with the making of said
improvements shall be done and made by contract upon competitive bids,.
and the City shall have the power to reject any and al( bids.
Sectjon There is hereby created a special fund to be called
"Local Improvement Fund, District No.p7L", into which shall be paid
all sums paid on account of the aforementioned special assessments, in-
cluding all interest and penalties thereon, and, in the event of the
sale of local improvement bonds bpi the City, all premiums and interest
on said bonds issued for said improvements.
Section 7. Bonds bearing interest at the rate of 4 per annum, .
payable on or before 12 years from date of issuance, shall be issued in
payment of the costs and expenees of the said improvements, which bonds
shall be redeemeerby the collection of special assessments to be levied
and assessed upon the property within said district, payable in ten
annual installments, with interest at the rate of 470 per annum, inter-
est payable annually under the mode of payment "payment by bonds," as
defined by the statutes of the State of Washington and the ordinances
of the City of Yakima; provided that this improvement may be financed
by the issuance of promissory notes, under the authority of R.C.W.
35.45.150.
Section This ordinance is one relatinc to local improvements
or assessments therefor, and shall become effective immediately upon
_9_
• •
its passage, approval and publication as provided by taw and the City
4, Charter,
PASSED BY THE CITY COUNCIL, signed and approved this 5th day of
April, 1965.
fr „i p ,
Mayor
ATTEST:
City Clerk
-3-