HomeMy WebLinkAbout1952-B-1399 r
406 .
ORDINANCE NO e E-1399
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. 726,4 and providing for the issuance of bonds with coupons attached
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 $780..82 for the improvement
made in Local Improvement District No. 726, as created and established by Ordinance
No B -1291 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. 17th day of
September, 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 17th day of September-in each year, and
shall be collected in the same manner as is it ovided by law and the ordinances of the
said City.
Section 2. If any of the said installments of kr incipal or interest are
not paid on or before the 17th day of September 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 b e 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 improvement in said Local Improvement District No. 726
there shall be issued bonds of the District in the sum of $780..82., said issue to consist
of 15 bonds, in the denomination of $50.00 each and one bond of the denomination of
$30.82: to be numbered from one upwards consecutively, and shall bear interest at the
rate of 4 per cent per annum, payable annually on the Sth day of October each year,
the several installments of interest to be evidenced by coupons attached to said bonds
and both it incipal and interest shall be payab le 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 October 8th, 1952,
and approximately 1 /10th of said bond issue shall be payable on or before the 8th
day of October of each year thereafter, to andincluding the 8th day of October, 1964.
Section 5. This ordinaa ce 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 6th day of
October, 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-1399 entitled "AN ORDINANCE fixing the time of delinquency of
installments 'OflAssessments levied for the payment of the cost of the improvement in
Local Improvement District No. 726, and providing for the issuance of bonds with
coupons attached for the pa4Yment of the unpaid portion thereof. ", as passed this
6th day of October, 1952, and that same has been published as required by law.
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CITY ! /LERK