HomeMy WebLinkAbout1953-B-1486 x 516
ORDINANCE NO. B -14$6
AN ORDINANCE fixing the time of delinquency of installments of assessments levied for
the payment of the cost of the improvement in Local Improvement District
No. 74$, and providing for the issuance of bonds with coupons attached for
the payment of the unpaid protion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of $5,3$7.43 for the improvement
made in Local Improvement District No. 74$, as created and established by Ordinance No.
B-1427 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 31st day of July, 1954,
with interest on the whole unpaid sum at the rate of 4 per cent per annum, and each
year thereafter one of such.intallments 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
payable on or before the 31st day of July in each year, and shall be collected on 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 of interest are
not paid on or before the 31st day of July 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 r per cent per annum until 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. 74$, there shall be issued
bonds of the District in the sum of $5,3$7.43, said issue to consist of 10 bonds in the
denomination of $500.00 each and one bond of the denomination of $3$7.43, to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 20th day of August each year, the several installments
of interest to be evidenced by coupons attached to said bonds and both principal and
interest shall be payable at the office of the City Treasurer in the City of Yakima,
- Washington.
Section 4. The bonds provided for herein shall be substantilly in the form
prescribed by Section 1$ of Ordinance No. A -192. as amended of the ordinances of the
City of Yakima, Washington. They shall be issued under date of August 20th, 1953, and
approximately 1 /10th of said bond issue shall be payable on or before the 20th day of
August of each year thereafter, to and including the 20th day of August, 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 24th day of
August, 1953.
' ATTEST: PEARL BENJAMIN ($ E A L) G. W. BURNS
City Clerk Mayor
I hereby certify that the foregoing is a full, true and correct copy of
Ordinance No. B -14$6 entitled "AN ORDINANCE fixing the time of delinquency of installments
of assessments levied for the payment of the cost of the improvement in Local
Improvement 'District No. 74$, and providing for the issuance of bonds with coupons
attached for the payment of the unpaid portion thereof. ", as passed this 24th day of
August, 1953, and that same has been published as required by law.
C I T Y Aez,/ ie
C L E R K