HomeMy WebLinkAbout1953-B-1464 487
ORDINANCE NO. B -1464
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
743, 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 le That there is unpaid the sum of $8,860.44 for the improvement
made in Local Improvement District No.. 743,, as created and established by Ordinance
No. B --1391 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 21st day of May,
1954, with interest on the whole unpaid sum at he 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 21st day of May in each year, and shall be collected in the
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 21st day of May 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 he 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. 743, there shall be issued
bonds of the District in the sum of $8,860.44 said issue to consist of 17 bonds in the
• denomination of $500.00 each and one bond of the denomination of $360.44 to be numbered
from one upwards consecutibely, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 10th day of June each year, the several installments df
interest to be evidenced by coupons attached to said bonds and both principal and inter -
est shall be payable at the office of the City Treasurer in the City of Yakima, Washing-
ton.
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 "J 10th, 1953,
and approximately 1 10th of said bond issue- shal be payable on or before the 1D)th day
of June of each year thereafter, to and including the 10th day of June, 1965.
Section 5. This ordinance 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 15th day of
June, 1953.
ATTEST: 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 -1464 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. 743, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof.`, as passed this 15th day of
June, 1953, and that same has been published as required by law.
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C I T Y C E R K
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