HomeMy WebLinkAbout1953-B-1467 rr 49O .
ORDINANCE ..NO..... 3- .14.67
AN ORDINANCE fixing the time of delinquency of insttllments of assessments levied for
. the payment of the cost of improvement in Local Improvement District No.
747, 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 $9,021.39 for the improvement
made.in Local Improvement District No. 747,, as created and established by Ordinance No.
B -1417 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 27th day of May, 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 27th day of May 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 27th day of May of each year in which the same shall be
payable, as provided in Section 1 hereof, the same shall thereupon become and be del®
inquent and shaIl 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 and expense •
of said improvement in said Local Improvement District No. 747,. there shall•be issued
bonds of the District in the sum of $9,021.39, said issue to consist of 18 bonds in
the.denomination of $500.00 each and one bond'of the denomination of $21.39 to be
numbered from one consecutively, and shall bear interest at'the rate of 4 per
cent per annum, payable annually on the 17th day of June each year, the several install-
ments 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. Al -192 as amended of the ordinances of
the City of Yakima, Washington. They shall' be issued under date of June 17th, 1953, and
approximately 1 /10 of said bond issue shall be payable on or before the 17th of
June of each year thereafter, to and including.the 17th day of June, 1965.
Section 5. This ordinance is one relating to local improvement 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 22nd 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 -1467 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. 747, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof. ", as passed this 2 day of
June, 1953, and that same has been published as required by law.
/ P
/
C I T Y C E R K
•
•
