HomeMy WebLinkAbout1952-B-1401 417 •
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ORDINANCE NO: B -1401
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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. 734, and Fr 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: .
Section 1® That there is unpaid the sum of $7,.905.64 for the improvement.
made in Local Improvement District .No. 734, as created and established by Ordinance No.
B -1354 of the Ordinances of the City of Yakima, which shall be paid in 10 equal annual
installments day first installment to be paid on or before the 25th da 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 shat l b e due
and payab le on or before the 25th day-of September in each year, and shallbe collected-
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 25th 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 andoe subject to a charge of
5 per cent penalty upon both principal and interest due thereon.
Section a. For the payment of the unpaid balance of the cost ane expense
of said improvement in said Local Improvement District No. 734, there shall be issued
bonds of the District in the sum of $7,.905.64, said issue consist of 15 bonds in the
• denomination of $500.00 each and one bond of the denomination of $405.64 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 16th day of October each year, the serveral installments
of interest to be evidenced by coupons attached to s aid bonds and both ptncipal 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. *-192 as amended of the ordinances of
the City of Yakima, Washington. They shall. be issued under date of October 16th, 1952,
and approximately 1 /10th of said bond issue shall be payable on or before the 16th
day of October of each year thereafter, to and including the 16th day of October, 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 approved this 20th 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 -1401. entitled "AN ORDINANCE fixing the time of.. d elinquency of
installments of assessments levied for the payment of the cost of the improvement in •
Local Improvement District No. 734, and providing for the issuance of bonds with coupons,
attached for the payment of the unpaid portion thereof. ". as passed this 20th day of
October, 1952, and that same has been published as required by law. .
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