HomeMy WebLinkAbout1950-B-1199 187
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ORDINANCE NO. B -1199
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. 690, and providing for the issuance of bonds with coupons attached
for the payment of the unpaid portion thereof.
BE IT ORDAINED Ba THE CITY OF YA.KIMA:
. . r • ' S•ecti -ona lcv • That there i•s unpaid. the sum of $3,170.55 for the improvement
made in Local Improvement District No., 690 as created and established by Ordinance
No. B-1120 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 10th day of
November, 1951, with 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 there-
on 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 10th day of November 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 bef.or,e the 10th day of November of each year in which the same shall
be payable, as provided in Section 1 hereof, the same shall thereupon become and be
delinquentand 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. 690, there shall be issued
bonds of the District in the sum of $3,170.55, said issue to consist -of 15 bonds in
the denomination of W170.55 to be numbered from one upwards consecutively, And shall
bear interest at the rate of 4 per cent, per annum,, payable annually on the 1st day of
December 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 December 1st, 1950,
and approximately 1 /10th of said bond issue shall be payable on or before the 1st day
of December, of each. year thereafter, to and including the 1st day of December, 1962.
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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 27th day of
November, 1950.
ATTEST: PEARL BENJAMIN ( S E A L ) G. W. BURNS
City Clerk Mayor
I hereby certify that the foregoing is a full, true and correct copy of
Ordinance No. B -1199 entitled: "AN ORDINANCE fixing the time of delinquency of in-
stattments of assessments levied for the payment of the cost of the improvement in
Local District No. 690, and providing for the issuance of bonds with coupons attached
for the payment. of. the. unpaid portion. thereof," as passed on this 27th day of
November; 1950, 'and` that. same' has been published as required by law.
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CITY / LERK