HomeMy WebLinkAbout1951-B-1325 325 -
ORDINANCE NO. 8=1325
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. 716, 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:
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Section 1; That there is unpaid the sum of $11,628.13 for the improvement
made in Local Improvement District No. 716, as created and established by Ordinance
No. B -1239 of the Ordinances of the City of Yakima, vh ich shall be paid in 10 equal
annual installments, 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 become due at the rate of 4 'per cent per annum
shall be due and payable on or before the 1st day of November in each year, and shall
be col]e cted in the same manner as is provided by law and the ordinances of the said
City.
Section 2, If any of the said installmentsof principal or interest are
not paid on or before the 1st day of November 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 shll 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 sub ject. 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. 716, there. shall be issued
bonds of the District in the sum of 11,62843,.said issue to consist of 23 bonds. in
the denomination •of $500.00 each and one bond of the denomination of. 4128.13 to be
numbered from one upwards consecutively, and sahli bear interest at the rate of 4 per
cent per annum, payable annually on the, 21st day of November each year, the several •
installments of interest to be evidenced by coupons attached tosaid bonds and both
principal and. interest shall be payable at the office of the City' Treasurer ih the
City of Yakima, Washington.
Section 4. The bonds provided for herein shal l b e substantially in the
form prescribed, by Section 18 of Ordinan ce, No. A192 as amended' of the ordina:i ces of
the City of Yakima,. Washington. They shall be issued under date of November 21st, .
1951, and approximately 1 /10th of • said bond issue shall: be payable on or before the
21st day of November of each year thereafte, to and including the 21st day of
November, 1965.
Section 5: This ordinance is one relating to local improvements or
assessments therefor and shall b ecome 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 ( SEAL .) G. W. , BURNS
City Clerk Mayor
I • hereby certify. that the . foregoing is ull, : true. and correct copy of
Ordinance No. B -1325 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. 716, and Ir oviding for .the issuance' of bonds: with
coupons attached for the payment of the unpaid protion thereof. "; as passed this. 19th
day of November, 1951, and that same has been published as required by law:.
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C I T Y C E R K
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