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HomeMy WebLinkAbout1967-907 ORDINANCE NO 7e27 AN ORDINANCE providing for the improvement of certain property by con- • structing a pipe sewer With the necessary wye branches and manholes; establishing a Local IMProvement District, providing the method of payment thereof,. and creating a special.fund. BE IT ORDAINED BY THE CITY OF YAKIMA: Section 1. That the following property shal f be improved by con- structing pipe sewer withthe necessary wye branches and manholes: Englewood Heights Plat - Lots I through 28; Carriage Hill Plat - Lots 9 through 13, 40 through 42, 51 through 63; Paddack Garden Lots - Lot 9; Paddack Garden Lots Lot 10 (Valley View Estates Plat Unrecorded); Dillon Addition Plat and North 87 feet of South 323.75 feet of East 269 feet of Block 28, and North 65 feet of West 155 feet of South half of Block 28, all in Section 36-13-18; Block 44 and 45.- First Addition to Suburban Acre Homes. Section 2. There is hereby created a Local Improvement District to be called "Local Improvement District No. /3 ", which said dis- trict shall include.all of theproperty adjacent to the above mentioned improvements which are subject to assessments, said property being de- 1, scribed 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. All costs and expenses in connection with the con- struction of said improvement, including engineering, inspection, ad- vertising, publication of notices, and all other expenses incident thereto, shall be levied and assessed against all of the property legally and p-roperly assessable therefor as provided by law and as • above _described., Section 5. All of the .aforesaid construction work shall be in 0 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. Section 6. All of the work necessary to be done in connection with the making of said improvements shall be done and made by con- tract upon competitive bids, and the City shall have the power to re- ject any and all bids. Section 7. There is hereby created a special fund, to be called "Local Improvement Fund, District No. 7.t.-Y into which shall be placed all sums paid on account of the aforesaid special assessments, including all interest and penalties thereon, and, in the event of the sale of local improvement bonds by the City, all premium and interest 0 on said bonds issued for said improvement. Section 8. Bonds bearing interest at the rate of 51, per annum, payable on or before 12 years from the'date of issuance, shall be issued in payment of the costs and expenses of said improvements, which bonds shall be redeemed by the collection of special assessments to be levied and assessed upon the property within said district, payable in ten equal annual installments with interest at the rate of 51. per annum, interest payable annually, under the mode of payment "payment by bonds", as defined by the statutes of the State of Wash- ington 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. 411 Section 9. This ordinance is one relating to local improvements or assessments therefor and shall become effective immediately upon its passage, approval and publication as provided by law and the City Charter. PASSED BY THE CITY COUNCIL, signed and approved this 8th day of May, 1967. Mayor ATTEST: City Clerk -2-