HomeMy WebLinkAbout1953-B-1460 481
ORDINANCE NO. B -1460 .
AN ORDINANCE fixing the time of delinquency of installme its.of assessments levied for
the cost of the improvement in Local Improvement District No. 735, . 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 $13,018.79 for the improvement
made in Local Improvement District No. 735, as created and established by Ordinance No.
B -1356 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 30th day of April, 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 thereafter to become due at the rate of 4 per cent per annum shall be due and pay-
able on or before the 30th day of April 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 30th day of April of each year in which the same shall be pay-
able, 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 b e subject to a charge of 5 per cent
penalty upon both principal and interest due thereon.
Section 30 For the payment of the unpaid balance of the cost and expense of
said improvement in said Local Improvement District No. 735, there shall be issued bonds
of the District in the sum of $13,018.79, said issue to consist of 26 bonds: in the
denomination of $500.00 each and one bond of the denomination of $18.79 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 May each year, the several installments of
interest to be evidenced by coupons attached to said bonds and both principal and inter -
es•t 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 May 20th, 1953, and
approximately 110th of said bond issue shall be payable on or before the 20th day of
May of each year thereafter, to and including the 20th day of May, 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 25th
day of May, 1953.
ATTEST: PEARL BENJAMIN (SUL) G. W. BURNS
City Clerk Mayor
I hereby certify that the foregoing is full, ture and correct copy of
Ordinance No. B -1460 entitled t° `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. 735, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof.%, as passed this 25th day of
May, 1953, and that same has been published as required by law.
C I T Y C L E R K