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ORDINANCE NO. B -1292
AN ORDINANCE fixing the time of delinquency of installments of assesments levied for
the payment of the cost of the improvement in Local Improvement District
No. 693, 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 $12,800.70 for the improvement
made in Local Improvement District No. 693 as created and established by Ordinance
No. B -1136 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 25th. day of
August, 1952, with interest on the thole 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 25th day of August 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 25th day of August 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 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 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. 693, there shall be
issued bonds of the District in the sum of $12,800.70, said issue to consist of 25
bonds in the denomination of $500.00 each and one bond of the denomination of $300.70
to be numbered from one upwards consecuti vely,and shall bear interest at the rate.of
4 per cent per.annu, payable annually on the 15th day of September 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 September 15th,'
1951, and approximately 110th of said bond issue shall be payable on or before the
15th day of September of each year thereafter, to and including the. 15th day of
September, 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 CCOPJIMISSION, signed and approved this 17th day of
September, 1951
ATTEST: PEARL BENJAMIN (S E A L) G. W. BURNS
City Clerk Mayor
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I hereby certify that the foregoing is a full, true and correct copy of
Ordinance No. B-1292 ,entitled "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. 693, and providing for the issuance of 'bonds with
coupons attached for the payment of the unpaid portion thereof. ", as passed on this
17th day of September, 1951, and that same has been published as required by law.
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C I YCLERK