HomeMy WebLinkAbout1950-B-1117 91
ORDINANCE NO. B -1117
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. 685, 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 i. That there is unpaid the sum of $635.09 for the improvement
made in Local Improvement District No. 685 as created and established by Ordinance
No. B -1064 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 interest on the whole unpaid sum at the rate of 4 er cent
annum, and each year thereafter one of such installments together with interest per
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 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. 685, there shall
be issued bonds of the District in the sum of $635.09, said issue to consist of 12
bonds in the denomination of $50.00 each and one bond of the denomination of $35.09
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 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 issxed under date of March 9th, 1950,
and approximately 1 /10th of said bond issue shail•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)
City Clerk N. K. BUCK
Mayor
I hereby certify that the foregoing,is a full, true and correct copy o f
Ordinance No. B -1117 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. 685, 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,