HomeMy WebLinkAbout1958-B-2230 132
ORDINANCE NO. B -2230 (7.)
AN ORDINANCE fixing the time of delinquency of installments of assessments
levied for the payment of the cost of the improvement in Loc-
al Improvement District No. 858, and providing for the issuance
of bonds with coupons attached for the payment of the unpaid
portion thereof.
BE IT ORDAINED BY T.H_ECITY OF YAKIMA:
Section 1. That there is unpaid the sum of $2,596.11 for the
improvement made in Local Improvement District No. 858 as created and esta-
blished by Ordinance No. B -2082 of the Ordinances of the City of Yakima,
which shall be paid in 10 equal annual installments, the first installment -
to be paid on or before the 13th day of December, 1959, with interest on
the whole unpaid sunL;atct he rate of 4 per cent per annum, and each year
thereafter one of such installments together with interest thereon and on
the installments thereafter tb become due at the rate of 4 per cent per
annum shall be due and payable on or before the 13th day of December, in
each year and shall be collected in the same manner as is provided by
Ta w and the Ordinances of the said City.
Section 2. If any of the said installmen -s of principal or
interest are not paid on or before the 13th day of December of each year
in which the same shall be payable, as provided in Section l hereof, the
sameshall 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 both principal and interest due thereon.
Section 3. For the payment of the unpaid balance of the
cost a nd expense of said improvement in said Local Improvement District
No. 858, there shall be issued bonds of the District in the sum of
2,596.11, said issue to consist of 12 bonds in the denomination of
y$200.00 each and one bond of the denomination of 0196.11 to be numbered
from one upwards consecutively, and shall bear interest at the rate of
4 per cent per annum, payable annually on the 3rd day of January each
year, the several installments of interest to be evidenced by coupons
attached to said bonds and both principal andinterest 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 January 3, 1959, and approximately 110th
of said bond issue shall be payable on or before the 3rd day of January
of each year thereafter, to and including the 3rd day of January, 1971.
Section 5. This Ordinance is one relating to local impro-
vements 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
17th day of December, 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 corect
copy of Ordinance No. B -2230 entitled "AN ORDINANCE fixing the tine of
delinquency of installments of assessments levied for the pa,ment of
the cost of t he improvement in Local Improvement District No. 858, and
providing for the issuance of bonds with coupons attached for the pay-
ment of the unpaid portion thereof. ", as passed on the 17th day of
December, 1958, and that the same has been published as required by law.
./ 1 / T 7 Y C L E R K