HomeMy WebLinkAbout1959-B-2252 1[64
ORDINANCE NO. B-2252 P
aob
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. 860, 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 $1,410.89 for the
improvement made in Local Improvement District No. 860 as created and es-
tablished by Ordinance No. B-2104 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 7th day of February, 1960, with interest 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 7th day of February in
each year, and shall be collected in the same manner as is provided hy
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 7th day of F 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 ad the Ordinances of
the City of Yakima, and said delinquent assessments hall bear interest
at the rate of 4% 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
and expense of said improvement in said Local Improvement District No. 860,
there shall be issued bonds of the District in the sum of $1,410.89, said
issue to consist of 13 bonds in the denomination of $100.00 each and one
bond of the denomination of $110.89 to be numbered from one upwards con-
secutively, and shall bear interest at the rate of 4 % per cent per annum
payable annually on the 27th day 6f February each year, the several in-
stallments 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 bonds provided for herein shall be substan-
tially in the form prescribed by Section 18 or Ordinance No. A as
amended of the Ordinances of the City of Yakima, Washington, They ahsll
be issued under date of February 27, 1959, and approximately 1/10th of
said bond issue shall be payable on or before the 27th day of February,
of each year thereafter, to and including the 27th day of February, 1971.
Section 5. This 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 City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 13th
day of February, 1959.
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-2252 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. 860,
and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof.", as passed on the 13th day of
February, 1959, and that the same has been published as required by law.
AoK
ITY CLERK