HomeMy WebLinkAbout1951-B-1241 230
ORDINANCE NO. B -1241
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. 664, 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 $150,078.77 for the improve-
ment made in Local Improvement District No. 664, as created and e stablished by Ordin-
ance No. 3 -1009 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 6th day
of April, 1952, 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 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 6th day of April 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 6th day of April 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
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. 664, there shall be issued
bonds of the District in the sum of $150,078.77, said issue to consist of 300 bonds
in the denomination of $500.00 each and one bond of the denomination of $78.77, to be
numbered from one upwards consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable annually on the 27th day of April each year, the several in-
stallments of interest to be evidenced by coupons attached tos aid 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 27th, 1951,
and approximately 110th of said bond issue shall be payable on or before the 27th
day of April of each year thereafter, to and including the 27th day of April, 1963.
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 16th day of
April, 1951..
ATTEST: PEARL BENJAMIN ( S E A L ) G. W. BURNS
City Clerk _ Mayor
1 hereby certify that the foregoing is a full, true and correct copy of
Ordinance No..B -1241 entitled "AN ORDINANCE fixing the time of delinquency of install-
ments of assessments levied for the payment of the cost of the improvement in Local
Improvement District No. 664, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof. ", as passed on this 16th day
of April, 1951, and that same has been published as required by law.
CITY ERK
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