HomeMy WebLinkAbout1952-B-1346 •
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ORDINANCE NO. B -1346
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. 722, and providing for the issuance of bonds with coupons attached
for the payment of the unpaid portion thereof. .
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BE IT ORDAINED BY THE CITY OF YAKIMA:
Section I. That there is unpaid the sum of $19,012.96 for the improvement
made in Local Improvement District No, 722;, as created . and• established by Ordinance
No. B -1245 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 18th day. of •
January,, 1953,. 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 18th day of January 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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Sectio/v2,. If any of 'the said installments of principal or interest are
not .paid on or before the 18th day of January of each year in which the same shall
be payable, as provided in Section l 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 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. 722, there shall b e issued
bonds of the District in the sum of §19,012.96, said issue to consist of 38 bonds
in the denomination of $500.00 each and one bond of the denomination of $12.96 to' be
numbered from ohe upwards consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable - annually on the 8th day of February 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 February 8th,
1952, and approximately 1 /10th of said bond issue shall be payable on or before the
8th day of February of each year thereafter, to and including the 8th day of February,
'1964.
Section 5. This ordinance 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 4th day of
February, 1952:
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ATTEST: PEARL BENJAMIN ( S E A. L ) G. W. BURNS
City Clerk Mayor
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I hereby certify that the foregoing is full, true and correct copy of
Ordinance No. B -1346 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. 722., and p? oviding for the issuance of bonds with
coupons attached for the payment of the unpaid portion thereof. ", as passed this
4th day of February, 1952, and that same has been published as required by Jaw.
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