HomeMy WebLinkAbout1958-B-2164 a
ORDINANCE NO, B -2164
AN ORDINANCE fixing the time of delinquency of installments of assessments
levied for the payment of the cost of the improvement in
Local Improvement District No. 855, and providing for the
issuance of bondswith coupons attached for the payment of
the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. T}jat there is unpaid the sum of $32,619.14 for
the improvement made in Local Improvement District No. 855 as created and
established by Ordinance No. 2048 of the Ordinances of the City of Yak ima,
which shall bepaid in 10 equal annual installments, the first installment
to be paid on or before the 3rd day of May, 1959, with interest on the
whole unpaid sum at the rate of 4 per cent per annum, and each year there-
after one of such installmwnts together with interest thereon and on the
installmwnts thereafter to become due at the rate of 4 per cent per annum
shall be due and payable on or before the 3rd day of May in each year,
and shall be collected in the same manner as is provided by law and the
Ordinances of the said City.
Section 2. If any of the said installments of principal or
interest are not paid on or before the 3rd day of May of each year in
which the same shall be payable, as provided in Section 1 hereof, the
same shall thereupon become and be delinquent and shall be collected as
provided by the laws of the State of Washington and the Ordinances of the
City of Yakima, and said delinquent assessments shall bear interest at
the rate of 4 per cent per annum until paid and be subject to a charge of
5 per cent penalty upon both principal and interest due thereon.
Section 3. For the payme t of the unpaid balance of the
cost and expense of said improvement in said Local Improvement. District
No. 855, there shall be issued bonds of the District in the suit of
32, 619., s b th of
500.00 14 each and aid is one sue bond to of the consist denomination of 65 onds in of 1 e 19 denomination .14 to be no
from one upwards consecutively, and shall bear interest at the rate of
4 per cent per annum, payable annually on the 24 day of May each year,
the several installments of interest to be evidenced by coupons attached
to said bonds and both principal and interest shall be payable at the
office of the City Treasurer in the City of Yakima, Washington.
Section 4. The ponds provided for herein shall be substan-
tially in the form prescribed by Section 18 of Ordinance No. A -192 as
amended of the Ordinances of the City of Yakima, Washington. They shall
be issued under date of May 24, 1958, and approximately 1 /10 of said
bond issue shall be payable on or before the 24th day of May of each
year thereafter, to and including the 24 day of May, 1970.
Section 5.. Ordinance is one relating to local improve-
ments or assessments therefor and shall become effective immediately upon
its passage, approval and publication as provided by the City Charter.
PASSED BY THE CITY OJMMISSION, signed and approved this 14
day of May, 1958.
ATTEST: J.A. SMITH ( S E A L ) JOE K. ALDERSON
CITY CLERK MAYOR
I hereby certify that the foregoing is a true, full and complete
copy of Ordinance No. B -2164 entitled "AN ORDINANCE fixing the time of
delinquency of installments of assessments levied for the payment of the
cost of the improvement in Local Improvement District No. 855, and pro-
viding for the issuance of bonds with coupons attached for the payment
of the unpaid portion thereof. ", as passed on the 14 day of May, 1958,
and that the same has been published as required by law.
C L E R K