HomeMy WebLinkAbout1951-B-1248 237
ORDINANCE NO. B -1248
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. 708, 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 $727.95 for the improvement
made in Local Improvement District No. 708, as created and established by Ordinance
No. B -1179 of the Ordinances of the City of Yakima, which shall be in 10 equal -
annual installments, the first installment to be paid on or before the 29th day of
March, 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 29th day of March in 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 29th 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
delinquent and shall be collected as provided by the laws of the Etate of Washington
and the ordinances of the City of- Yakima, and said delinquent assessments shall bear
interest at' the rate or 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. 7)8, there shall be issued
bonds of the District in the sum of $727.95, said issue to consist of 14 bonds in
the denonination or $50.00 each and one bond of the denomination of $27.95 to be
numbered from one upwards consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable annually on the 21st 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 4.1 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 21, 1951,
and approximately 110th of said bond issue shall be payable on or before the 21st
day of April of each year thereafter, to and including the 21st 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 28th day of '
May, 1951.` •
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 -1248 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. 7U8, and providing for the issuance of bonds with
coupons attached for the payment of the unpaid portion thereof. ", as passed on this
28th day of May, 1951, and that . same has been published• as required by law.
„ea C I Y CLERK
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