HomeMy WebLinkAbout1952-B-1405 42 .
ORDINANCE .NO._ B -1405
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. 723, 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 $12,.636.29 for the improvement.
made in Local Improvement District No.. 723 as created and established by Ordinance No.
B -1254 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 9th day of October; 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 9th day of October in each year, and shall be collected in the same:
manner as is provided by law and the ordinances. of the s aid City.
Section 2. If any of the said installments of principal or interest are
not paid on or before the 9th day of October of each .year in which the same shall be.
payable, as provided in Section 1. hereof, the s ame 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 '
interest at ;the,rate of 4-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 balance . of the cost and expense:
of said improvement in said Locai •Im rovement District Na* 723,. there shall b e issued
bonds of the District in the sum of 12,,63 - 6.29, said issue to consist of 25 bonds in
the denomination of $500.00 each and one bond of the denomination.of $1316.29 to be
numbered from one ,upwards consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable annually on the 30th day of October 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 October 30th, 1952,
and approximately 1 /,10th of said bond issue shall be payable on orb efore the 30th day
of October' of each year thereafter, to and including the 30th 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.
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PASSED BY CITY COMMISSION, signed and approved this. 27th day of
October, 1952.
ATTEST: PEARL B3ENJAMIN (•S E A L ) G. W. BURNS
- City Clerk Mayor
I hereby certify that -the the foregoing is full, true and correct copy of
Ordinance B -14.05 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. 723, and providing :for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof." as passed this 27th day of .
October, 1952 and that same has been published as required by law.
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C I T / C L E R K