HomeMy WebLinkAbout1958-B-2135 ORDINANCE NO. B -2135 C!
AN ORDINANCE fixing the time of delinquency of installments of assess-
ments levied for the payment of the cost of the improvement
in Local Improvement District No. 854, and providing for
the issuance of bonds with coupons attached for the payment
of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of 48,014.97 for
the improvement made in Local Improvement District No 854 as created and `
established by Ordinance No. B -2043 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 15th day of February, 1959, 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 there
on 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 15th day of Feb-
ruary in each year, and shall be collected in the same manner as is pro-
vided 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 15th day of February 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 payment of the unpaid balance of the cost
and expense of said Improvement in said Local Improvement District No.
854, there shall be issued bonds of the District in the sum of $ 48,014.97
said issue to consist of 96 bonds in the denomination of $ 500.00 each
and one bond of the denomination of 3 14.97 to be numbered from one up-
wards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 8th day of March 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 bonds 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 March 8th, 1958, and approximately 110th of
said bond issue shall be payable on or before the 8th day of March of
each year thereafter, to and including the 8th day of March, 1970.
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 HY THE CITY COMMISSION, signed and approved this 19th
day of February, 1958.
ATTEST: J.A. SMITH ( SEA L ) JOE K. ALDERSON
CITY CLERK MAYOR
I hereby certify that the foregoing is a true, full and correct
copy of Ordinance No. B -2135 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. 854, and pro-
viding for the issuance of bonds with coupons attached for the payment of
the unpaid portion thereof.," as passed on the 19th day of February, 1958,
and that the same has been published as required by law.
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