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ORDINANCE NO. B -1334.
AN ORDINANCE fixing the time of delinquency of installments of assessments levied for
the payment of the cost of the. improvement ' in Lac al Imir ovement District
No. •721, 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 $10,521.66 for the improvement
made in Local Improvemht District No. 721 as created and established by Ordinance
No. B -1244 `of the "Ordinances of the City of Yakima, which shal 1 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 r a.te 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 29th 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 29th day of November of each year in which the same shall
be payable, as p'ovided 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. 721, there shallbe issued
bonds of the District in the sum of $10,521.66, said issue to consist of 21 bonds .
in the denomination of $500.00 each and one bond' of the denomination of $21.66 to be
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 to said bond's and both
principal and ,interest shall be\ payab le at the office of the City Treasurer in the
City of Yakima, Washington.
Section 4. The bonds provided for herein shall b e 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 December 20th,
1951, and approximately 1 /10th of said bond issue shall b'e payable on or before the
20th day of December of each year thereafter, to and including the 20th day of
December, 1963."
Section 5. This ordinance is one realting 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.
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-1334 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. 721, 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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