HomeMy WebLinkAbout1951-B-1275 267
ORDINANCE NO. B -1275
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. 714, 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 55,496.00 for the improvement
made in Local Improvement District No. 714, as created and established by Ordinance
No. B -1221 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 24th day of
July, 1952, with interest bn 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 t he rate of 4 per cent per annum shall
be due and payable on or before the 24th day of July in each year, and shall be collect-
ed 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 24th day of July of each year in which the same shall be pay-
able, as provided in Section 1 hereof, thesame shall thereupon become and be delinquent
and shall be collected as provided by the laws of the State of Washington and the ordin-
ances of the City of Yakima, and said delinquent assessments shall bear interest at
the rate of 4 per cent per annum until paid and:o e 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. 714, there shall be issued
bonds of the District in the sum of $5,496.00, said issue to consist of 18 bonds in
the denomination of 4300.00 each and one bond of the denomination' of $96'.00 to be
numbered from one upwards consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable annually on the 14th day of August each year, the several in-
_ stallments of interest to be evidenced by coupons attached to s 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, aashington. They shall be issued under date of August 14th, 1951,
and approximately 1 /l0th of said bond issue shall be payable on or before the 14th
day of August of each year thereafter, to and including the 14th day of "ugust, 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 13th day of
August, 1951.
ATTEST: PEARL BENJAMIN ( SEA L ) G. W. BURNS
City Clerk Mayor
I hereby certify that the foregoing is a full, true and correct copy of
Ordinance No. B -1275 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. 714, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof. ", as passed on this 13th day
of August, 1951, and that same has been published as required by law.
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