HomeMy WebLinkAbout1953-B-1439 459
ORDINANCE NO B- 143'9
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. 737, 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 $44,208.38 far the improvement
made in Local Improvement District No. 737, as created and established by Ordinance No. ,
B -1368 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 5th daj of March, 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 install-
ments thereaftet to become due at the rate of 4. per cent per annum shall be due and pay-
able on or before the 5th day of "March 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 5th d_y of March of each year in which the same shall be
payable, as provided in Section 1 hereof, the same shall thereupon become and b e del-
inquent and shall b e col]e cted 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 change of 5 per cent
penalty upon both Ir incipal 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. 737, there shall b e issued
bonds of the District in the sum of $44,206.38 said issue to consist of 88 bonds in the
denomination of $500.00 each and one bond of the denomination of $208.38 to be numbered
from one upwards consecutively, and shall b ear interest at the rate of 4 per cent per
annum, payable annually on the 26th day of March each year, the several installments of
interest to be evidenced by coupons attached to said bondsand 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 b e 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 b e issued under date of March 26th, 1953,
and approximately 1 /10th of said bond issue shall be payable on or before the 26th day
of March of each year thereafter, to and including the 26th day of March, 1965.
Section 5. This ordiance is one relating to local improvements or assess-
ments 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 30th day of March,
1953.
ATTEST: MARL 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 -1439 entitled "AN ORDINANCE fixing the time of delinquency of install-
ments of assessments levied for the payment of the cost of the improvement District
No. 737, and providing for the issuance of bonds with coupons attached for the payment
of the unpaid protion thereof. as passed this 30th day of March 1953, and that same
has been published as required by law.
AO
C I T Y/ C L E R K