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ORDINANCE.. NO. B -1406
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. .731, 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 $4,230.04 for the imx ovement,
made in Local Improvement District No. 731, as created and established by Ordinance
No. B -1328 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 ai num
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 said City.
Section 2. .Ia 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 b e
payable, as provided in Section 1. hereof, the same shall thereupon become and b e
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 be sugject 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. 731, there shall be issued
bonds of the District in the sum of $4, 230.04, said issue to consist -of 13 bonds in
the denomination of $300.00. each and one bond of the denomination of $330.04 to b e•
numbered from one upwards consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable manually on the 30th day of October each year, the several
installments of interest to b e evidenced by coupons attached toss d 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 in Section 18 of Ordinance No. A-192 as an ended 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 payd le on or before the 30th
day of October of each year thereafter, to and including the 30th, day of October, 1964.
Section 50 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 27th 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 -1406 entitled "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. 731,, and providing for the issuance of b onds with
coupons attached for the payment of the unpaid portion thereof." aspassed this 27th
day of October, 1952, and that same has been published as required by law.
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