HomeMy WebLinkAbout1953-B-1423 441
ORDINANCE NO. B-1423
AN ORDINAN'CE fixing the time of delinquency of installments of assessments: levied for
the payment of the cost of the improvement in Local Improvement District
No. 742, and Ra 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 $1,878.37 for the improvement
1 made in Local Improvement District No. 742, as created and established by Ordinance No..
B -1379 of the Ordinances of the City of Yakima, v ich shall be paid in 10 equal annual.
installments, the first installment to be paid on or before the 26th day of December,
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 26th day of December in each 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 26th day of December 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. 742, there shall be issued
bonds of the District in the sum of $1,878.39, said issue to consist of 18 bonds in the
denomination of$100.00 each and one bond of the denomination of,$78.37 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4. per cent per
annum, payable annually on the 15th day of January each year, the several installments
of interest to be evidenced by coupons attached to s aid bonds and both Ir incipal 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 shallbe substantially in the
form prescribed by Section 18 of Ordinance No. A -192 asamended of the ordinances of
the City of Yakima, Washington. They shall be issued under (date of January 15th, 1953, •
and approximately 1 /10th of said bond issue shallbe payable on or before the 15th day
of January of each year thereafter, to and including the 15th day of January, 1965.
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 19th day of
January, 19 53 .
PEARL BENJAMIN ( SEA L ) G. W. BURNS
City Clerk Mayor
I hereby certify that the foregoing is full, true and correct copy of
Ordinance No. B -1422. entitled "ANORDINANCE fixing the time of delinquency of install-
ments of assessments levied for the payment of the cost of the imrpovement in Local
Improvement District No. 742:, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof.", as passed this 19th day. of
January, 1953, and that same has been published as required by law.
1Z2e I T Y -
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CLERK
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