HomeMy WebLinkAbout1952-B-1359 363
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ORDINANCE.NO. B-1359
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
Noa 717; - :and the issuance of bonds with coupons. attached for
the payment of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMAr
II Section 1... - That there is unpaid the sum of $1,742.60 for the improvement
made in Local Improvement District No. 711.7 as created and, established by Ordinance
No. B -1234 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 20th day of -
March, 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 t� become due at the rate of 4 per cent per annum shall
be due and payable on or before the 20th day of March in each year, And shall b e collect-
ed 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 20th day of March 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 collected as provided by the is ws of the State of Washington and
the ordinances of the City or Yakima, and said delinquent; assessments shall bear
interest at the rate of r 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 balanceof the cost and expense:
of said improvement in said Local Improvement in said Local Improvement District No.
717,. there shall be issued bonds: of the District in the sum of $1,742.62„ said' issue:
to consist of 16 bonds in the denomination of 000..00} each and one bond of the denomin-
ation of $142.62: to be numbered from one upwards consecutively, and shall bear interest
at the rate of 4 per cent per annum, payable annually on the 10th day of April 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 b e issued under date of April 10th, 1952,
and approximately 1/10th of said bond issue shall be payable on or before the 10th
day of:April of each year thereafter, to and including the 10th day of April, 1964..
Section 5. This ordinance is one relating to local _improvement or
assessments therefor and shall become effective immediately upon its passage, approval •
and publication as provider" by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 7th day of April,
1952.'
ATTEST: PEARL BANJAMIN ( SEAL ) G. W. BURNS
City Clerk Mayor
I hereby certify that the foregoing is full, true and correct copy of
Ordinance No. B- 1359 entitled "AN ORDINANCE fixing the time of delinquency ,of install -
ments of assessments levied for the payment of the cost of the improvement in Local
Improvement District No. 717, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof." : as passed this 7th day of
April, 1950,, and that same has been published as required by law.
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