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ORDINANCE NO.B -1347
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. 725, and w oviding for the issuance of bonds with coupons attached
for the payment of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA :.
i
Section 1., That there is unpaid the sum of $2,401.05 for the improvement
made in Local Improvement District No. 725 as .created and established by Ordinance
No. B -1290 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 be due and payable on or before the 18th day of January in each year, and, shall
be collected in the same manner as is provided by It w and the ordinances of the
said City.
Section 2. If any of the said installments of principal or interest are
not paid on op before the 18th day of January 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 penal ty upon both principal and interest due thereon.
Section 3. For the payment of the unpaid b alance of the cost and expense
of said improvement in said Local Improvement District No. 725, there shall be issued
bonds of the District in the sum of 2,401.05, said issue to consist of 24 bonds in
the denomination of $100.00 each and one bond of the denomination of $1'.05 to be
numbered from one upwards consecutively, and shall bear interest at the rate of 44 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 S 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, 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 %proved this 4th day of
February, 1952.
ATTEST :. PEARL BENJAMIN ( SEAL ) G. W. BURNS
City Clerk Mayor
I hereby certify that the foregoing is full, true and correct copy of
Ordinance No. , B -1347 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 725, and providing for the issuance of bonds with
coupons attached for the payment of the unpaid portion thereof.", as passed this
4th cay of February, 1952, , and that same has been published as required by law.
C I T C L E R K