HomeMy WebLinkAbout1951-B-1295 287
ORDINANCE NO. B -1295 .
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. 700, 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 $7,283.12 for the improvement
made in Local Improvement.District No. 700, as created and established py Ordinance
!No. 8 -1157 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 b ecome 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.
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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 lr ovided 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 inter st 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. 700, there shall be issued
bonds of the District in the sum of $7,283.12 said issue to consist of 14 bonds in
the denomination of $500.00 each-and one, bond of the denomination of $283.12 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, 1951, •
and approximately 1 /10th of said bond issue shall be payable on a 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 resting 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
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I hereby certify that the foregoing is a full, true and correct copy of
. Ordinance No..B -1295 entitled "AN ORDINANCE fixing the time of delinquency of
installments of assessments levied for t he.payment of the cost of the improvement in
Local Improvement District No. 700, 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 C L E R K
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