HomeMy WebLinkAbout1953-B-1503 540 •
ORDINANCE NO. B -1503
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.
750, 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 $1,784.51 for the improvement made in •
Local Improvement District No. 750, as created and established by Ordinance No. .B-1442
of the Ordinances of the City of Yakima, which shall be paid in 10 equal annual install-
ments, the first installment to be paid on or before the 24th day of September, 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 install-
ments thereafter to become due at the rate of 4 per cent per annum shall be due and pay-
able on or before the 24th day of September 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 24th day of September 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 and expense of said
improvement in said Local Improvement District No. 750, there shall be issued bonds of
the District in the sum of $1,784.51, said issue to consist -of 17 bonds in the denomin-
ation of $100.00 each and on bond of the denomination of 5$4.51 to be numbered from one
upwards consecutively, and shall bear interest at the rate of 4 per cent per annum payable
annually on the 15th day of Octover each year, the several installments of interest to
be evidenced by coupons attached to said bonds and both principal and interest shall be
payable at the office of the City Treasurer in the City of Yakima, Washington.
Section 4. The bonds provided for herein shall be substantially in the form
prescribed by Section 1$ of Ordinance No. A -192 as amended of the ordinances.of the City
of Yakima, Washington. They shall be issued under date of October 15th, 1953, and
approximately 1 /10th of said bond issue shall be payable on or before the 15th day of
October of each year thereafter, to and including the 15th day of October, 1965.
Section 5. This ordinance is one relating to local improvements or assessments
therefor and shall become effective immediately upon its passage, approval and public-
ation as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 19th day of October 1953.
ATTEST: PEARL BENJANIN ( S E A L ) G. W. BURNS
City Clerk Mayor
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• I hereby certify that the foregoing is a full, true and correct copy of Ordinance
No. B - 1503 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. 750, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof. ", as passed this 19th day of October, 1953, and
that same has been published as required by law.
C I T Y / C L E R K ■
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