HomeMy WebLinkAbout1950-B-1115 89 .
ORDINANCE NO. B -1115
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. 676, 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,•364.90 for the improvement
made in Local Improvement District No. 676 as created and established by Ordinance No.
B -1032 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,
1951, with the 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 her'eof,•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. 676, there shall •
be issued bonds of the District in the sum of 0,364.90, said issue to consist of
21 bonds in the denomination of $164.90 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 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.
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 13th day of
March, 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
Nordinance No. B -1114 entitled, "AN ORDINANCE fixing the time' delinquency of
installments of assessments levied for the payment of the cost of the improvement
in Local Improvement District No. 676, 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.
4 7 - Lm �
C TY CLERK
•
•
•
•
•