HomeMy WebLinkAbout1953-B-1507 X 546
ORDINANCE NO. B -1507
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. 753,
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 $959.45 for the improvement made in
Local Improvement District No. 752, as created and established by Ordinance No. B -1451 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 9th day of October, 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
9th day of October 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 9th day of October 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 annun 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. 152, there shall be issued bonds of
the District in the sum of $959.45, said issue to consist of 9 bonds in the denomination
of $100.00 each and one bond of the denomination of $59.45 to be numbered from one up-
wards consecutively, and shall bear interest at the rate of 4 per cent per annum, payable
annually on the 29th day of October each year, the several installments of interest to be
evidenced by coupons attached to said bonds and both principal and interest shall be pay-
able at the office of the City Treasurer in the City of Yakima, Washington.
Section 4. The bonds provided for herein shall be substantially in the form
prescribed by Section 1$ of Ordinance No. A -192 as amended of the ordinances of the City
of Yakima, Washington. They shall be issued under date of October 29th, 1953, and approxi-
mately 1 /10th of said bond issue shall be payable on or before the 29th day of October of
each year thereafter, to and including the 29th 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 publication
as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 2nd day of November, 1953.
ATTEST: PEARL BENJAMIN ( S 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 -1507 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. 752, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof. ", as passed this 2nd day of November, 1953, and that,
same has been published as required br law.
C I T / C L E R K