HomeMy WebLinkAbout1950-B-1105 77
,ORDINANCE NO. B -1105
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. 651, 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 $4,291.62 for the improvement
made in Local Improvement District No. 651 as created and established by Ordinance
No B -898 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 12th day of
January, 1951, 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 12th day of January 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 before the 12th day'of January of each year in which the same
shall be payable, as provided in Section 1 hereof, 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. 651, there shall be issued
bonds of the District in the sum. of $4,291.62, said issue to consist of 20 bonds in
the denomination of 5200.00 each and one bond of the denomination of $291.62 to be
numbered from one upwards consecutively, and shall bear interest at the rate of 4
per cent per annum, payable annually on the 10th day of February 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 substantially 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 February 10th,
1950, and approximately 1 /10th of said bond issue shall be payable on or before.
the 10th day of February of each year thereafter, to and including the 10th day
of February, 1962.
Section 5. This ordinance is one relating to local improvements or
assessments therefor and shall become effective immediately upon its passage, ap-
proval and publication as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 20th day of
February, 1950.
ATTEST: PEARL BENJAMIN (SEAL) N. K. BUCK
City Clerk Mayor
I hereby certify °; that the foregoing is a full, true and correct copy of
Ordinance No. B -1105 entitled, "AN ORDINANCE fixing the time of delinquency of
assessments levied for the payment of the cost of the improvement in Local Improvement
District No. '651, -and providing for the issuance of bonds.with coupons attached for
the payment of the unpaid portion thereof," as passed on this 20th day of February,
1950, and that same has been published as required by law.
17HLERK