HomeMy WebLinkAbout1951-B-1294 28
OR DINAN C CF NO. B -1294
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. 695, and providing for the issuance of bonds with coupons attacked
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 $7,276.43 for the improvement
made in Local Improvement District No. 695 as created and established by Ordinance -
No. B -1140 of the Ordinances of the City of Yakima, which shall be paid in 10 equal
annual innstallments, 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 11.w 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 sane 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. 695, there shall
be issued bonds of the District in the sum of $7,276.43, said issue to consist of
14 bonds in the denomination of $500.00 each and one bond of the denomination of
$276.43 to be numbered from one upwards consecutively, and shall bear interest at the
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 w escribed 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, 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 COMMISSION, Signed and approved this 17th day of
September, 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 -1294 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. 695, and providing for the issuance of bonds with -
coupons attached for the payment of the unpaid protion thereof. ", as passed on this
17th day of September, 1951, and that same has been published as required by law.
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