HomeMy WebLinkAbout1973-1493 ORDINANCE NO. /
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 for the method of payment thereof, and creating
a special fund.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. The following described property situate in Yakima
County, Washington, shall be improved by constructing a pipe sewer
with the necessary wye branches and manholes:
Lots 1 through 5 and 11 through, 16, Valley Vale Addition, as
recorded in Volume "P" of Plats, page 25, records of Yakima
County, Washington.
Section 2. There is hereby created a Local Improvement bistvict,
to be called "Local Improvement District No. 991," which said district
shall include all of the above described property.
Sectionj. 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 the 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.
Secton 5. All of the aforesaid construction work shall be in
accordance with the plans and specifications, profiles, maps and
detailed drawings which have been prepared by the City Engineer, filed
TeLth the City Clerk, and which are hereby approved and adopted.
Section 6. All of the work necessary to be done in connection
with the makipg of said improvement shall he done and made by contraet
upon competitive bids, and the City shall have the power to reject any
and all bids.
Section 7, There is hereby created a special fund, to be called
"Local Improvement Fund, District No. 991," into which shall be placed
all sums paid on account of the aforesaid special assessments, includ-
ing all interest and penalties thereon, and in the event of the sale
of local improvement bonds by the City, all premium and interest on
said bonds issued for said improvement.
Section 8. Bonds bearing interest at a rate not to exceed 8% per
annum, payable on or before 12 years from the date of issuance, shall
be issued in payment of the costs and expense of said improvement,
which bonds shall be redeemed by the collection of special assessments
to be levied and assessed upon the property within said district, pay-
able in ten equal annual installments with interest at a rate not to
exceed 82% per annum, interest payable annually under the mode of pay-
ment "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 and Section 8.12.100 of the
• City of Yakima Municipal Code.
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 by the
City Charter.
PASSED BY THE CITY COUNCIL, signed and approved this c7p d2 day
o f , 1973.
Mayor
ATTEST:
•
•ZTae.- bef-rof
City Clerk
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