HomeMy WebLinkAbout1951-B-1333 •
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ORDINANCE NO. B -1333
AN ORDINANCE fixing the time of delinquency of installments of assessments )s vied
for the payment of the cost of the -improvement in Local Improvement District
No. 720, 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 $16,355 :93 for the improvems nt
made in Local Improvems nt District No. .720, as created and established by Ordinance
No. B -1242 of the Ordinances of the City of Yakima, which shall b e paid in 10 equal '
annual installments, the first installment to be paid on or before the 29th. 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 b e due and payable on or before the 29th 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.
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Section 2.. 'If any of the said installments of r incipal or interest are
• not paid on or before' the 29th 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. 720, there shall be issued
bonds of the District in the sum of $16,355.93, said issue to consist of 32 bonds, in
the denomination of 4500.00 each and one boni of the denomination of $355'.93 to b e
numbered from one upwards ,consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable annually on the 20th day of December each year, the several
installments of interest to be evidenced by coupons attached tosai d 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 A -192 as amended of the ordinances of
the City of Yakima, Washington. They shallbe issued under date-of December 20th, 1951,
and approximately 1 /10th of said bond issue shal 1 be payable on or before the 20th
day of November of each year thereafter, to and including the 20th day of November,
1963. •
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Section 5.. This ordinaa ce is one relating to . local 'improvements 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 10th day of
December, 1951.
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ATTEST: . PEARL BENJAMIN ( S E A L ) G. W. BURNS
1 City Clerk Mayor
I hereby certify that the foregoing is full, true and correct copy of
Ordinance No. .B- 1333entitled "AN ORDINANCE fixing the time of delinquency of
installments of assessments levied for the payment of the ,cost of the imp rovement-
in Local Improvement District No. 720, and' providing ' for the issuance of bonds with
coupons ,attached for the payment of-the unpaid portion thereof. ", as passed this
10th day of,December, 1951, and that same has been published as required by law.
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C I T C L E R K
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