HomeMy WebLinkAbout1953-B-1465 X 488
1 ESOLUTI0N__N-0. :._ S-1165
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. 745, and providing for the issuance of bonds with coupons attached for
the payment of the unpaid portion thereof. .
3E IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of $717.06 for the improvement
made in Local Improvement District No. 745, as created and established by Ordinance No.
B ®1396 of the .Ordinances of the City of Yakima, which shall be paid in 10- equal annual
installments, the first installment tobe paid on or before the 29th day of January,
1954, with interest on the whole unpaid sum at the rab 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 he rate of 4 per cent per annum shall be due
and payable on or before the 29th day of Jannary in each year and shall be collected
in the same manner as is-provided by law and the ordinances of said, City.
Section 2. If any of the said installments of principal or interest are
not paid on or before the 29th 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 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 ane expense
of said improvement, in said Local Improvement District No. 745, there shall be issued
bonds of the District in the sum of $717-.06, said issue to, consist of 13 bonds in the
denomination of $50.00 each and one bond of . the denomination of $67006 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum,. payable annually on the 19th day of February 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 February 19th, 1953,
and approximately 1 /10th of said bond issue shall be payable on or before the 19th day
of February of each year thereafter, to and including the 19th day of February, 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 15th day of June,
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-1465 entitled "AN ORDINANCE fixing the time of delinquency of install-
ments of assessments levied for the pivmelt of the cost of the improvement in Local
Improvement District No. 745, 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.
C I T Y C/' E R K