HomeMy WebLinkAbout1969-1166 ORDINANCE NO. I ( (,,
AN ORDINANCE relating to Local Improvement Districts; specifying modes
of payment for local improvements; providing for publica-
tion of notice of assessments, manner of payment and
amount of interest and penalties on unpaid assessments;
limiting the term of bonds and the interest rate there-
on, amending Sections8.12.080, 8.12.090, 8.12.100 and
8.12.130 of the City of Yakima Municipal Code; and
declaring an emergency.
• BE IT ORDAINED BY THE CITY OF YAKIMA:
Section.l. Section 8.12.080 of the City of Yakima Municipal
Code is hereby amended to read as follows:
"8.12.080 Modes of Payment. There shall be two modes of
making payment for such portion of the cost and expense of any
improvement provided for in this chapter as shall be payable by
special assessment, to wit: "Immediate Payment" and "Payment
by Bonds ", provided, the City Council may, by ordinance, provide
that the cost of an improvement be financed by an installment
note in accordance with Section 35.45.150 of the Revised Code
of Washington. The mode adopted for any improvement shall be
the one which the City Council shall designate in the ordinance
ordering such improvement."
Section 2. Section 8.12.090 of the City of Yakima Municipal Code
is hereby amended to read as follows:
• "8.12.090 Mode of Immediate Payment -- Penalty for
Delinquency. Whenever the cost and expense of any improvement
shall be payable by the mode of "Immediate Payment" the City
Treasurer shall upon receipt of the assessment roll publish a
notice in the official daily newspaper of the City one time each
week for two consecutive weeks that the roll is in his hands for
collection and that any assessment thereon or any portion of any
such assessment may be paid at any time within thirty days from
the date of the first publication of said notice, without penalty,
interest or costs, and that unless payment be made within such
time, such assessment or unpaid portion thereof will become
delinquent. Upon delinquency a penalty of 8 percent shall attach
to and become a part of all such assessments. Delinquent assess-
ments shall bear interest at a rate to be fixed by the City
Council not to exceed 82 percent per annum until paid. Such
delinquent assessments, with penalty and interest, shall be col-
lected and the lien thereof shall be enforced in the manner pro-
vided by law and the ordinances of the City of Yakima."
Section 3. Section 8.12.100 of the City of Yakima Municipal Code
is hereby amended to read as follows:
"8.12.100 Mode of Payment by Bonds -- Notice -- Delinquency.
Whenever the cost and expense of any improvement shall be
payable by the mode of "Payment by Bonds" or by an installment
note, the City Treasurer shall publish a notice in the official
daily newspaper of the City one time each week for two consecu-
tive weeks that said roll is in his hands for collection and that
the whole or any portion of any assessment levied on account of
such improvement may be paid without penalty, interest or costs
during the first thirty days following the date of the first
publication of such notice, and the unpaid balance, if any, may
be paid in equal annual installments, the number of which shall
be less by two than the number of years which bonds or install-
ment note issued to pay for the improvement may run; or, the
lien of any such assessment may be discharged at any time after
such thirty day period by paying the entire unpaid portion there-
of together with all interest thereon to the date of delinquency
next falling due, and together with any interest for delinquency
and penalty which may also be due at the time such payment is
lik made.
The first installment shall become due and payable during
the thirty day period succeeding a date one year after the date
of first publication of such notice, and annually thereafter
each succeeding installment shall become due and payable in like
manner. If the whole or any portion of any assessment remains
unpaid after the first thirty day period herein provided for,
interest on the whole unpaid sum shall be charged at the rate
fixed in the ordinance providing for such improvement, but not
to exceed 81 per cent per annum, and each year thereafter one of
such installments, together with the interest due upon the whole
of the unpaid balance, shall be collected. Any installment not
paid prior to the expiration of the thirty day period during
which such installment is due and payable shall thereupon become
delinquent. All delinquent installments shall, until paid, be
subject to a charge for interest at the same rate as that charged
on the unpaid assessment, and to an additional charge of 8 per-
_ cent penalty levied upon such installment
or installments."
Section 4. Section 8.12.130 of the City of Yakima Municipal Code
II I is hereby amended to read as follows:
"8.12.130 Term of Bonds -- Interest. Bonds by their terms
shall be made payable on or before a date not to exceed thirty
years from and after the date of the issuance of such bonds, the
term of which bonds shall be fixed by ordinance of the City
Council. Such bonds shall bear interest at the rate provided by
the ordinance ordering the improvement, but not exceeding 8 per-
cent per annum, such interest to be payable annually. Each bond
shall have attached thereto interest coupons for each interest
payment."
Section 5. This ordinance is one to provide for the immediate
preservation of the public peace, property, health, safety and welfare
of the people of the City of Yakima and an emergency is hereby declared
to exist and this ordinance shall be in full force and effect
immediately upon its passage, approval and publication as provided by
!, law and by the City Charter.
PASSED BY THE CITY COUNCIL, si: -d and approved this 29th day of
September, 1969.
c d 7
ATTEST: Mayor
City lerk