HomeMy WebLinkAbout1950-B-1116 rnn
ORDINANCE NO. B -1116
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. 684, and providing 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 $769.12 for the improvement
made in Local Improvement District No. 684 as created and established by Ordinance
No. B- 1060of. 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 interest on the whole unpaid sum at the ratr 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 ordin-
ances 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 the laws of the State of Washington
and the ordinances of the City of Yakima, and said deltquent 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. 684, there shall be issued
bonds of the District in the sum of $769.12, said issue to consist of 14 bonds in the
denomination of $69.12 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.
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
Ordinance No. B -1116 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. 684, 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.
4/1/7
CLERK