HomeMy WebLinkAbout1951-B-1322 I
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ORDINANCE NO. B -1322
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. 712, 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 $30,917.72 for the improvement
made in Local Improvement District No. 712, as created and established by Ordinance
No. B-121g 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 8th day of
November, 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 8th day. of November 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 gth day of November.. 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. 712, there shall be issued
bonds of the District in the sum of $30,917.72, said issue to consist of 61 bonds in
the denomination of $500.00 each and one bond of the denomination of $417.72 to be
numbered from one upwards consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable annually on the 29th day of November each, year, the several
installments of interest to be evidenced by coupons attached to aid 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 November 29 th,
1951; and approximately 1 /10th of said bond issue shall be payable on or before the
29th day of November of each year thereafter, to and including the 29th day of
November, 1963
Section 5. This ordinance is one relating to local improvement 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 19th day of
November, 1951.
ATTEST: PEARL BENJAMIN ( S E A L ) G. W. BURNS
City Clerk Mayor
Thereby certify that the foregoing is full, true and correct copy of
Ordinance No.B -1322 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. 712, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof. ", as passed this 19th day
of November, 1951, and that same has been . published as required by law.
