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,ORDINANCE. NO. B -1413
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. 741, 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 $3,860.99 for the improvement
made in Local Improvement District No. 741 as created and established by Ordinance
No. B -1375 of the Ordinances of the City of Yakima, Waich shall be paid in 10 equal
annual installments, the first installment to be paid on. or before the 30th 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 30th day of October in each year, and shall.
be collected in the same manner as is provided by law and the ordinances of the said
City.
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Section 2. If any of the said inst of principal or interest are
not paid on or before the 30th day of October 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 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. 741, there shall be issued
bonds of the District in the sum of $3,.860.99, said issue to consist of 12 bonds in the
denomination of $300:.00 each and one bond of the denomination of $290.99 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4. per cent per
annum, payable annually on the 20th day of November each year, the several installments
of interest to be evidenced by coupons attached to said bonds and both principal mad
interest shall be payable at the office of t he 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, W` .shington. They shall be issued under date of November 20th, 1952,
-and approximately 1 /16th of said bond issue shall be payable on or before the 20th day
of November of each year thereafter, to and including the 20th 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.
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PASSED BY THE CITY COMMISSION, signed and approved this 24th -day of
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November, 1952.
ATTEST: PEARL BENJAMIN ( SEAL ) G. W. BURNS
City Clerk
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Mayor
I hereby certify that the foregoing is full, true and correct copy of
Ordinance No. B-1413 entitled "AN ORDINANCCE fixing the time of delinquency of
installments of assessments levied for the payment of the cost of the improvement in
.Local Improvement District No. 7414 and providing for the issuance of bonds with coupons
attached for the payment of the unpaid protion thereof." as passed this 24th day of
November, 1952, and that .same has.been published as required by law.
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C I T Y L E R K
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