HomeMy WebLinkAbout1950-B-1131 _105
ORDINANCE NO. B -1131
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. 674, 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 $1,941.30 for the improvement
made in Local Improvement District No. 674 as created and established by Ordinance No.
B -1025 of the Ordinances of the City of Yakima, which shall be paid in 10 equal annual
imstallments, the first installment to be paid on or before the 17th day of March, 1951'
with interest on the whole unpaid sum at the rate of 4 per 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 17th day of March 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 17th day of March of each year in which the same shall be
payable, as provided in Section 1 hereof, the same shall thereupon become and be de-
linquent 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 in-
terest 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. 674, there shall
be issued bonds of the District in the sum of $1,941.30, said issue to consist of
12 bonds in the denomination of 1150.00 each and one bond of the denomination of
141.30 to be numbered from one upwards consecutively, and shall bear interest at
the rate of 4 per cent per annum, payable annually on the 7th day of April, 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 la of Ordinance No. A -192 as amended in the ordinances of
the City of Yakima, Washington. They shall be issued under date of April 7th, 1950,
and approximately 1 /10th of said bond issue shall be payable on or before the 7th
day of April of each year thereafter, to and including the 7th day of April, 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 10th day of
April, 1950.
ATTEST: PEARL BENJAMIN (SEAL) N. K. BUCK
City Clerk Mayor
1
I hereby certify that the foregoing is a true, full and correct copy of
Ordinance No. B -1131 entitled, "AN ORDINANCE fixing the time of delinquency of in-
stallments of assessments levied for the payment of the cost of the improvement in
Local Improvement District No. 674, and providing for the issuance of bonds with
coupons attached for the payment of the unpaid portion thereof," as passed on this
10th day of April, 1950, and that same has been published as required by law.
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