HomeMy WebLinkAbout1952-B-1360 r)U4
ORDINANCE' NO.-_ B-1360
AN ORDINANCE fixing the' time of delinquency of installments of assessments, levied for
th payment of the cost of the improvement in Local Improvement District
No. 724, and providing for the issuance of bonds with coupons attache&
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 $3,0.12.57 for the improvement
made in Local Improvement District No. 724, as created and established by Ordinance
No. B -1274 of the Ordinances of the City of Yakima, which shal]Lbe 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 r ate 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 4th day of March in each year, and shall be 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 shali.b e collected as provided by the h..ws of the State of Washington
and the ordinances of the City of Y&°ma, and said delinquent assessments shall bear
interest at the rate of. 4 per cent per annum until. paid andbe 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. 724, there shall be issued
bonds of the District In the sum of $3,012.57, said issue to consist of 14 bonds in
the denomination of $200000, each and one bond of the denomination of $212.57 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 b e evidenced by coupons attached to said bonds and both
Ir incipal 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 April 10th, 1952,
and approxi mately 1 /10th of said bond issue shall be payable on orbefcre the 10th
day of April Of each year thereafter, to and including the 10th day of April, 1964.
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 cy City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 7th day of April,
1952.
ATTEST:' PEARL BENJAMIN ( S E A L ) G. W. BURNS
City Clerk . Mayor
I hereby certify that the foregoing is full, true and correct copy of
Ordinance No.! B -1360 entitled. "'AN ORDINANCE .:fixing the time of delinquency of
installments• of assessments )e vied. for the payment of the cost of the improvement in
Local Improvement District No, 724, 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, 1952, and that same has been published as required by law.
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