HomeMy WebLinkAbout1958-B-2215 ORDINANCE N0, 13-2215
AN ORDINANCE fixing the time of delinquency of installments of assessments
levied for the payment of the cost of the improvement in Lo-
cal Improvement District No. 865, and providing for the iss-
uance of bonds with coupons attached for the payment of the
unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAlcIMA :
Section 1, That there is unpaid the sum of $ 11, 635.45 for
the improvement made in Local Improvement District No. 865 as created
and established by Ordinance No. B -2167 of the Ordinances of the City of
Yakima, which shall be paid in 10 equal annual installments, the first in- f I
stallment to be paid on or before the 25th day of October, 1959, with in-
terest 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 25th day
of October 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 befoee the 25th day of October 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 hear interest at the
rate of 4 per cent per annum until paid and be subject to a charge of 5
per cent penalty upon Joth principal and interest due thereon.
Section 3. For the payment of the unpaid balance of the cost
and expense of saidimprovement in said Local Improment District No. 865,
there shall be issued bonds of the Dis trict in the sum of $11,635.45, said
issue to consist of 23 bonds in the denomination of $500.00 each and one
bond of th4 denomination of $135.45 to be numbered from one upwards con-
secutively, and shall bear interest at the rate of 4 per cent pet annum, '
pauable annually on the 16th day of November, each year, the several in-
stallments o finterest 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 bonds provided for herein shall be sub-
stantially 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 November 16, 1958, and approximately 1 /10
of said bond issue shall be payable on or before the 16th day of Nov-
ember of each year thereafter, to and including the 16th day of Nov-
ember, 1970.
Section 5. This Ordinance is one relating to local im-
provements or assessments therefor and shall become effective immediately
upon its passage, approval and publication as provided by the City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 29th
day of October, 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 1
of Ordinance No. 3-2215 entitled "AN ORDINANCE fixing the time of delin-
quency of installments of assessments levied for the payment of the cost
of the improvement in Local I District No. 865, and providing
for the issuance of bonds with coupons attached for the payment of the
unpaid portion thereof." as passed on the 29th day of October, 1958, and
that the same has been published as required by law.
/. /
T Y C L E R K K