HomeMy WebLinkAbout1951-B-1249 238
-ORDINANCE NO. B -1249
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. 711, and. providing for the issuance of bonds with coupons attached
-for the payment of the unpaid portion thereof,.
BE IT ORDAIN ±a) BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of $6,66O.03.for the improvement
made in Local Improvement.Listrict No. 711, as'created and established by Ordinance
No. B -1204 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. annum,
andeach 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 on before the 6th 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. 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. 711, there shall be issued
bonds of the District in the sum of $6,660.03, said issue to consist of..22- bonds in
the denomination of 3OO.Ou each and one bond, of the denomination of $60.03, 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 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 .27, 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 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 -1249 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 711, 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. •
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