HomeMy WebLinkAbout1950-B-1113 87
ORDTNANCE NO. R - 1 ] 3
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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. 673, and providing for the issuance of bonds, with coupons attached
for the payment of the unpaid portion thereof.
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• BE. IT ORDAINED BY THE CITY OF YAKIMA:
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Section 1. That there is unpaid the sum of $2,527.74 for the improvement
made in Local Improvement District•No. 673 as created and established by Ordinance No.
B -1024 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 16th day of February,
1950, 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 16th day of February -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 16th 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 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 is said Local: Improvement District No. 673, there shall be issued
bonds of the District in the sum of $2,527.74, said issue to consist of: 24 bonds in
denomination of $127.74 to be numbered from one upwards consecutively, and shall bear
interest at the rate of 4 per cent per annum, payable annually on the 9th 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 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 March 9th, 1950,
and approximately 1 /10th of said bond issue shall be payable on or before the 9th day
of March of each year thereafter, to and'including the 9th day of March, 1962.
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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 by City Charter..
PASSED BY THE CITY COMMISSION,' signed and approved this 13th day of
March, 1950.
ATTEST: PEARL BENJAMIN (SEAL) N. K. BUCK
City Clerk Mayor
.I hereby certify that this is a full, true and correct copy of Ordinance
No. B -1113 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. 673, and providing for-the issuance of bonds with coupons attached, for
the payment of the unpaid portion thereof," as passed on this 13th day of March, 1950,
and that same has been published as required by law.
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CITY CLERK
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