HomeMy WebLinkAbout1989-3211 AMENDING ORDINANCE NO. 3202 1110
ORDINANCE N0. `-' 2 1 1
AN ORDINANCE OF THE CITY OF YAKIMA, WASHINGTON
AMENDING ORDINANCE NO. 3202 TO CHANGE THE
AMOUNTS TO BE DEPOSITED INTO THE LOCAL IM-
PROVEMENT DISTRICT NOS. 1039, 1040, 1042, 1043,
1044 and 1045 FUNDS.
WHEREAS. the City Council adopted Ordinance No. 3202 on
September 19, 1989, authorizing the issuance of Consolidated Local
Improvement District No. 3 Bonds (the "Bonds "); and
WHEREAS, the Bonds were purchased at a discount; and
WHEREAS, Ordinance No. 3202 specified the amount of Bond
proceeds to be deposited into the Local Improvement District Nos.
1039, 1040, 1042, 1043, 1044 and 1045 Funds, but did not reflect
that the Bonds are being sold at a discount;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF YAKIMA, WASHINGTON AS FOLLOWS:
Section 15 of Ordinance No. 3202 is hereby amended to read as
follows:
Section 15. Application of Proceeds. Accrued interest,
if any, on the Bonds shall be deposited in the Bond Fund and
shall be applied to the payment of interest first coming due
on the Bonds. The principal of the Bonds shall be deposited
as follows:
Local Improvement District No. 1039 Fund $100,843.10
Local Improvement District No. 1040 Fund 20,755.32
Local Improvement District No. 1042 Fund 28,938.50
Local Improvement District No. 1043 Fund 18,725.52
Local Improvement District No. 1044 Fund 53,846.96
Local Improvement District No. 1045 Fund 378,673.35
The proceeds of the Bonds, together with other money in
said Funds, shall be used to pay and redeem the warrants
outstanding against said Funds, to repay any outstanding
interfund loans or installment notes, to pay any remaining
costs of improvements constructed in the respective Districts,
and to pay all expenses incidental thereto and to the issuance
of the Bonds.
This ordinance shall be in full force and effect thirty days
from and after its passage, approval and publication as provided
by law and by City Charter.
n
0
PASSED BY THE COUNCIL AND SIGNED AND APPROVED this / day
of , 1989.
CITY OF YAKIMA
C . iC ,NeG i1 V
Mayor
ATTEST:
4110
At t)u.e , „, t- Chic,
City Clerk
PUBLISHED:
EFFECTIVE DATE:
K \rrm\Y5001 89.002 \21n.OW
411
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