HomeMy WebLinkAbout1951-B-1293 285
ORDINANCE B -1293
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. 694, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof.
BE IT ORDAINED BY TBE CITY OF YAKIMA:.
Section 1. That there is unpaid the sum of $26,709,22 for the improvement
made in Local Improvement District No. 694 as created and established by Ordinance
No. B -1137_ 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 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 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 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. 694, -there shall be
issued bonds of the District in the sum of $26,709.22, said ussue to consist of
53 bonds in the denomination of $500.00 each and one bond of the denomination of
$209.22 to be numbered from one upwards consecutively, and shall bear interest at
rate of 4 per cent per annum,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 1 /10th 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 _COMMISSION, Signed and approved this 17th day of
September, 1951.
ATTEST: PEARL BENJAMIN ( SEAL ) G. W. BURNS
City Clerk Mayor
I hereby certify that the foregoing is a full, true and correct copy of
Ordinance No. B -1293 entitled "AN ORDINANCE fixing the time of delinquency of
installments of assessments le vied for the payment of the cost of the improvement in
Local Improvement District No. 694, 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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