HomeMy WebLinkAbout1958-B-2148 ORDINANCE NO. B-2148
AN ORDINANCE fixing the time of delinquency af installments of assess-
ments levied for the p_ayrnent of the cost of the improvement
in Local Improvement District No. 856, and providing for
the issuance of bonds with coupons attached for the pay-
ment of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of $12,163.31 for
the improvement made in Local Improvement District No. 856 as created and
established by Ordinance No. B-2065 of the Ordinances of the City of Yak-
ima, Wich shall be paid in 10 equal annual installments, the first in-
stallment to be paid on or before the 1st day of March, 1959, with inter-
est on the whole unpaid sum at the rate of 4 p 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 1st day of March
in each year, and shall be collected in the same manner as is provided by
law and the Ordinances of the S City;
Section 2. If any of the said installments of principal or
interest are not paid on or before the 1st day of March 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 Wasrington 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 excense of said improvement in said Local Improvement District.
No. 856, there shall be issued bonds of the istrict in the Sum of
$12,163.31, said issue to consist of 24 bonds in the denomination of
$500.00 each and one bond of the denomination of $163.31 to be numbered
from one upwards consecutively, and shall bear interest at the rate of
4 per cent per annum, payable annually on the 21st day of 'arch 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 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 dat of March 21, 1958, and approximately 1/lOthe
of said bond issue - shall be payable on or before the 21st day of March
of each year thereafter, to and including the 21st day of March, 1970.
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
13th day of March, 1958.
ATTEST: J.A. SMITH (SEAL) JOE K. ALDERSON
CITY CLERK MAYOR
I hereby certify that the foregoing is a true, full and correct
copy of Ordinance No. B-2148 entitled "AN ORDINANCE fixing the time of
delinquency of installments of assess levied for the payment of the
cost oft he improvement in Local Improvement District No. 856, and pro-
viding for the issuance of bonds with coupons attached for the payment
of the unpaid portion tijiereof.", as passed on the 13th day of March, 1958,
and that the same has been published as required by law.
IP
/ CLERK