HomeMy WebLinkAbout1951-B-1307 307
ORDINANCE N0. B -1307 .
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. 707, 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. Thy. t there is unpaid the sum of $3,380.29 for . the improvement,
made in Local Improvement District No. 707, as created and established by Ordinance
No. B -1178 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 20th day of
September, 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 20th day of September 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 20th day of September of each year in which the same shall
be payable, as provided in Section 1 hereof, the same shall thereupon become and b e
delinquent and shall be collected as provided by the Jaws 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 707, there shall b e issued
bonds of the District in the sum of $3,380.29, said issue to consist of 11 bonds in
the denomination of, $300.00 each and one bond of the denomination of $80.2.9 to be
numbered from one upwards consecutively, and stall bear interest at the rate of 4 per
cent per annum, payable annually on the llth day of October 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 October llth,
1951,, and approximately 1 /l0th of said bond issue shall be payable on or before the
llth day of October of each year thereafter, to and including the llth day. of
October, 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 jr ovided by City Charter._ .
PASSED BY THE CITY 'COMMISSION, signed and approved this 8th day of
October, 1951.
ATTEST: PEARL BENJAMIN ,( SEA L ) G. W. BURNS
City Clerk Mayor
I hereby certify that the foregoing' is full, true and correct copy of
Ordinance No. B -1307 entitled "'AN ORDINANCE fixing the time of delinquency of
installments of assessments levied for the payment of the cost of the imps ovement in
Local Improvement District No. 707, and providing for the issuance of bonds with
coupons attached for the payment of the unpaid portion thereof. ", as passed on this
8th day of October, 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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