HomeMy WebLinkAbout1950-B-1133 1 ®'7
QRDINANCE NO. B -1133 •
AN ORDINANCE fixing the time of delinquency of installments of assessments levied for .
the payment of the cost of the impeovement in Local Improvement District
• No. 678, 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 $8,521.15 for the improvement
made in Local Improvement Distridt No. 678, as created and established by Ordinance
No. B -1039 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 17th day of
March, 1951, with interest on the whole unpaid sum - at the fate 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 l7th 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 whcih 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
interest at the rate of 4 per.cient 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. 678, there shall be. issued
bonds of the District in the sum of p8;521.15, said issue to consist of 21 bonds in
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the denomination of 00100 each and one bond of the Q:enomination.of $121.15 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 in-
stallments 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 April 7th, 1950,
and approximately 1 /10th of said bond issuer 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 puablication as provided by City Charter.
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PASSED BY THE CITY COMMISSION, signed and approved this 10th day of April, '
1950. •
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ATTEST: PEARL BENJAMIN (SEAL) N. R. BUCK
City Clerk Mayor
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I hereby certify that the foregoing is a full, true and correct copy of
Ordinance No. B -1133 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. 678, • 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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