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HomeMy WebLinkAbout1966-829 ORDINPINCE.NO. _Fo2l AN ORDINANCE providing for the improvement of certain property by constructing the necessary mains, fire hydrants, valves III 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: Section 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: Lots 1 through 10 inclusive of Horizon Heights No. 2 (replat of Horizon Heights and part of the Southwest quarter of the Northwest quarter of Section 15, Township 13 North, Range 18, E.W.M.). Lots 1 through 10 inclusive of Edgecliff Manor No© 2 (replat of Edgecliff Manor). Section 2. There is hereby created and established a Local Irn- 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 assessruents 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 construc- tion of said improvement, including engineering, inspection, advertising, publication of notices, 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. Section 5. All of the aforesaid construction work shall be in accordance with the plans and specifications, profiles, maps and de- tailed drawin€s 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 all bids. ;• Section 6. There is hereby created a special±Imd to be called 41, "Local IMprovement Fund, District No.1512, into which shall be paid all sum's paid on account of the aforementioned special assessments, in- cluding all interest and penalties thereon, and in the eent of the sale of local improvement bonds by 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 expenses of the 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 annual installments, with interest at the rate of 4% per annum, inter- est payable annually under the mode ofpaYment "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 protissory notes, under aUhor* of R. C. W. 35.45.150. Section 8 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 6th day of September, 1966. fr ASA • Mayor ATTEST: City Clerk 411