HomeMy WebLinkAbout1952-B-1412 429
ORDINANCE NO. B -1412
cY .
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. 72.9, and N' 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 $4 ,432.71 for the improvement
made in Local Improvement District No. 729 as created and established by Ordinance
No. B -1310 of the Ordinances of the City of Yakima, which.shallbe paid in 10 equal
annual installments the first installment to be paid on or before the 6th day of
November, 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 r ate of 4 per cnet per az num
shall b e due and payable on orb efore the 6th day of November in eacy year, and shall be
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 6th day of November 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 be subject to a charge of
5 per centrpenalty 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. 729, there shall be issued
bonds of the District in the' sum of $4,432..74, said issue to consist of 14 bonds in the
denomination of $300.00 each and one bond of the denomination of $232.74 to be numbered
from one upwards consecutively, and shall bear interest at the rate .of 4 per cent per
annum, payable annually on the 26th day of November each year, the several installments
of interest tote 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. r
Section 4. The bonds provided for herein shall be substantially in the
form prescribed by Section 18 of Ordinance No. L -192 as ama nded of the ordinances of
the City of Yakima,. Washington. They shall be issued under date of November 26th, 1952,
and approximately 1/10th of said bond issue shall be payable on or before the 26th
day of November of each year thereafter, to and including the 26th day of November, 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 24th day of
November, 1952.
ATTEST: PEARL BENJAMIN (S E A. L) G. W. BURNS
City Clerk Mayor
I hereby certify that the foregoing is full, true and correct copy of
Ordinance No. B -1412 entitled i1 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. 729, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof." as passed this 24th day of
November, 1952, and that same has -been published as required by law.
1
C I,T CLERK