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ORDINANCE NO. B-2183
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. 859, and providing for the issuance of
bonds with coupons attached for the payment of the unpaid por-
tion thereof,
BE IT ORDAINED BY THE CITY OF YAKIMA: --
Section 1. That there is unpaid the sum of $ 16,403.14 for
the improvement made in Local Improvement District No. 859 as created and
established by Ordinance No. B-2084 of the Ordinances of the City of Yak-
ima, which shall be paid in 10 equal annual installments, the first in-
stallment to be paid on or before the 21st day of June, 1959, with inter-
est on the whole unpaid sum at the rate of 4 per cent per annum, and each
year thereafter one of such installments together with interest thereon
and on the installments thereafter to become due at the rate of 4 per cent
per annum shall be due and payable on or before the 21st day of June 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 21st day of June of each year in
which the same shall be paya)le, as provided in Section 1 hereof, the same
shall thereupon become and be delinquent and shall be collected as pro-
vided 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 payment of the unpaid balance of the .aost
and expense of said improvement in said Local Improvement tistrict No.
859, there shall be issued bonds ofthe District in the sumof $ 16,403.14,
said issue to consist of 32 bonds in the denomination of $ 500.00 each and
one bond of the denomination of $ 403.14 to be numbered from one upwards
consecutively, and shall bear interest at the rate of 4 per cent per annum,
payable annually on the 11 day of July each year, the several installments
of interest to be evidenced by coupons attached to said bonds and both
principal andAnterest shall be payable at the office of the City Treasurer
in the City of - Yakima, Washington.
Section 4. The bonds provided for herein shall be substantially
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 und'
date of July 11, 1958, and approximately 1/10 of said bond issue shall be
payable on or before the 11 day of July of each y thereafter, to and
including the llth day of July, 1970.
Section 5. 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 City Charter.
PASSED BY ,THE CITY COMMISSION, signed and approved this 2nd day
of July, 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 correct
copy of Ordinance No. B-2183 entitled AN ORDINANCE fixing the time of
delinquency of installments of assessments levied forthe payment of the
cost of the improvement in Local Improvement District No. 859, and pro-
viding for the issuance of bonds with coupons attached forthe payment of
the unpaid portion thereof." as passed on the 2nd day of July, 1958,
and that the same has been published as required by law.
A Y CLERK