HomeMy WebLinkAbout1952-B-1383 Q
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ORDINANCE N0. B -1383
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. 7331
and providing for the issuance of bond'with coupons attached for the pay -
ment of the unpaid portion thereof.
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BE IT ORDAINED BY THE CITY OF YAKIMA: '
Section 1. That there is unpaid the sum of $16,615.84 for the improvement
II made in Local Improvement District No. 733, as created and established by Ordinance
No. B -1343 of the Ordinances of the City of Yakima, which shall b e paid in 10 equal
annual installments, the first installment to be paid on or before the 3rd day of July,
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 inerest 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 3rd day of July in each year, and shall be collected in
the same manner sa is provided by law and the ordinal ces of the said City.
Section 2. If any of the said installments of principal or interest are
not paid on or before the 3rd day of July of each year in which the same shall be pay-
able, 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 44 per cent per annum until paid and be subject to a charge of 5 per cent
penalty upon both p incipal 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. 733, there shall be issued .
bonds of the District in the sum of $16,615.84, said issue to consist of 33 bonds in
the denomination of $500.00 each and one bond of the denomination of $115.84: to be
numbered from one upwards consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable annually on the 24th day of July 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 July 24th, 1952,
And approximately 1 /l0th of said bond issue shall be payable on or before the 24th day
of July of each year thereafter, to and including the 24th day of July, 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 Tproved this 21st day of July,
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 -1383. entitled "AN ORDINANCE fixing the time of delinquency of install-
ments of assessments levied for payment of the cost of the improvement in Local
Improvement District No.. 733, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof." as passed this 21st day of
July, 1952, and that has been published as required by law.
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