HomeMy WebLinkAbout1951-B-1326 326
ORDINANCCE NO. B -1326
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. 718, and providing for the issuance of bonds: with coupons attached
for the payment of the unpaid portion thereof.
BE IT ORDAINED THE CITY OF YAKIMA:
Section 1.• That there is unpaid the sum of $663.85 for the improvement
al de in Local Improvement District No. 718, as created and established by Ordinance
No. B -123:6 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 1st day of
November., 1952, with interest on the Waole 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 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 it incipal or interest are
not paid on or! before th 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 b e colh cted as provided by the lives 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.
Slection 3. For the payment of the unpaid balance of .the cost and expense
of said improvement in said Local Improvement District No. 718, there shall be issued
bonds of the District in the sum of $663.85,•said issue to consist of 13 bonds in the
denomination of $50.00 each and one bond of the denomination of.413.85 to be numbered
from one upwards consecutively, and shall 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 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 prescribe''d by Section 18 of Ordinance No. A- -192 as amended of the ordinai 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 pay ab ]e on or before the
21st, day of November of each year thereafter, to and including the 21st day of November,
1965.
Section 5. This ordinance is one relating to local improvements or
assessments . therefor and shall become effective immediately upon itspassage, 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
I hereby certify that the foregoing is full, true and correct copy of
Ordinance No. B -1326 entitled "AN ORDINANCE fixing the time of delinquency of install-
ments of assessments ]e vi ed for the payment of the cost of the improvement in Local
Improvement District No. 718, 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.
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