HomeMy WebLinkAbout1951-B-1324 324
ORDINCANCE NO. B -1324
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 710, 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 $8,529.48 for the improvement
made in Local, Improvement District No. 710, as created and established by Ordinance
No. B-1193 of the Ordinances of the .City of Yakima, which shall be paid in 10 equal .
annual the first installment to be paid on or before the 1st 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 bea) me due at the rate of 4 per cent per annum
shall be due and payable on or before the 1st day of November in eacy 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 1st 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 paj ment of the unpaid balance of the cost and expense
of said improvement in said Local Improvement District No. 710, there shall be issued
bonds of the District in the sum of $8,529.48, said issue to consist of 21 bonds in
the denomination of $400.00 each and one bond of the denomination of $129.48 to be
numbered from one upwards consecutively, and shall bear interest at-the rate of 4 per
cent per annum, payable a nnua lly on the 21st day of November 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 November 21st,
1951, and approximately 1/10th said bond issue shall be payable on or before the
21st day of November of each year thereafter, to and including the 21st day of
November, 19 65 .
Section 5. This ordinance is one relating to local improvements or
assessments therefor and shall become effective immediately upon its passage, ae pr oval
and publication as provided by City Charter.
PASSED BY THE CITY COMMISSION, isgned and approved this 19th day of
November, 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 -1324 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. 710, and poviding 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.
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