HomeMy WebLinkAbout1953-B-1466 •
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ORDINANCE. N.O..- B .146.6
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. 746, 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 $4949.45 for the improvement
made in Local Improvement District No. 746,. as created and established by Ordinance No.
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B -1409 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 June, 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 due
and payable on or before the 21st day of June 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 21st day of June of each year in which the same shall be pay -
abel, as provided in Section 1 hereof, the same shall thereupon become and be del-
inquent 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 3. For the payment of the unpaid balance of'the cost and expense.
of said improvement in said Local Improvement District No. 746, there shall be issued
bonds of the District in the sum of $1,949445, said issue to consist of 18 bonds in the:
denomination of'$100400 each and one bond of the denomination of 4149.45 -to be numbered
from one upwards consecutively, 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 _ 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 The bonds provided' for herein shall.be_substantilly in the
form.pesscribed 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 June 10th, 1953, and
approximately 1 /10th of said bond issue shall' be payable on or before,the'lOth 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 improvement or •
assessments therefor and shall become effective immediately upon its.passage, approval
and publication as provided by City Charter.. -
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PASSED BY THE CITY COMMISSION, signed and approved this 15th day of June,:
1953.
ATTEST: PEARL BENJAMIN ( SEAL ) G. W.. BURNS
City Clerk Mayor
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I hereby certify that the foregoing is full, true and correct copy of
Ordinance No. B- 14.66. 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. 746,- and providing for the issuance :of bonds with coupons .
attached for the payment of the unpaid. portion thereof•. "t,•• as passed this 15th day of
June, 1953, and that same has been published as required by law -. •
C I T Y/ L E R K
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