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ORDINANCE N0. B -14.24
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. 738, 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,.776.02 for the improvement
made in Local Improvement District No. 738, as created and established by Ordinance
No. B -1369 of the Ordinances of the City of Yakima, which shall be paid in 10 equal
annual installments, the first installment to be; on or before the 8th day of
January, 1954,, 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
cue and payable on or before the 8th day of January in each year, and shall be collect-
ed 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 8th day of January 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 b e collected as provided by the laws of the State of Washington
and the ordinances of the City of Yakima, and said delinquent assessments shall b ear
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. 738, there shall be issued
bonds of the District in the sum of $12, $12,776.02, said issue to consist of 25 bonds in
the denomination of $500.00 each and one bond of the denomination of 4276.0>2', to be
numbered from one upwqrds consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable annually on the 29th day of January 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 January 29th, 1953, and
approximately 1 /10th of said bond issue shall be payable on or before the 29th day of
January of each year thereafter, to and including the 29th day of January, 1965.
Section 5.• This ordinance is one relating to local improvements or
assessments therefor and shall become effective immediately upon itspassage, approval
and publication as provided by City Charter.
PASSED BY THE CITY 'COMMISSION, signed and approved this 26th day of
January, 1953.
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 -1424 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. 738, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof. ", as passed this 26th day of
January, 1953, and that same has been published as required by law.
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