HomeMy WebLinkAbout1950-B-1107 79
ORDINANCE NO. B -1107
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. 659, 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 thereis unpaid the sum of $5,614.13 for the improvement
made in Local Improvement District No. 659 as created and established by Ordinance
No. 3-995 of the Ordinances of the City of Yakima, which shall be paid in 10 equal
annual installments, the first 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 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 shallbe
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. 659,.there be issued
bonds of the District in the sum of 5,614.13, said issue to consist of 28 bonds in
the denomination of $200.00 each and one bond of the denomination of $14.13 to be
numbered from one upwards consecutively, and shall bear interest at the rate of 4
per cent per annum, payable annually on the 12th day of January 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
loth 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, approval
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 -1107 entitled, "AN ORDINANCE fixing the time of delinquency of the
installments of assessments levied for the payment of the cost of the improvement
in Local Improvement District No. 659, and providing for the issuance of bonds with
coupons . attached for the payment of the unpaid portion thereof," as passed on this
2Oth of February, 1950, and that same has been published as required by law.
Y CLERK
