HomeMy WebLinkAbout1953-B-1514 X 556
ORDINANCE NO. B -1514
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.751,
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 21,854.$6 for the improvement made in
Local Improvement District No. 751, as created and established by Ordinance No. B -1444 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 22nd 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 22nd 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 22nd 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 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. 751, there shall be issued bonds of
the District in the sum of $21,$54:$6, said issue to consist of 43 bonds in the denomin-
ation of 5500.00 each and one bond of the denomination of $354.86 to be numbered from one
upwards consecutively, and shall bear interest at the rate of 4 per cent per pay-
able annually on the 12th day of November each year, the several installments of interest
to be evidenced by coupons attached to said bonds and both principal and interest shall
be payable at the office of the City Treasurer in the City of Yakima, Washington.
Section 4.. The bonds provided for herein shall be substantially in the form pres-
cribed by Section 1$ of Ordinance No. A -192 as amended of the ordinances bf the City of .
Yakima, Washington. They shall be issued under date of November 12th, 1953, and approxi-
mately 1 /10th of said bond issue shall be payable on or before the 12th day of November
of each year thereafter, to and including the 12th day of November, 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 16th 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 -1514 entitled "AN ORDINANCE fixing the time of delinquency of installments of
assessments levied for the payment of the cost of the improvement in Local Imrpvement
District No: 751, and providing for the issuance of bonds with coupons attached for the
payment of the umpaid portion thereof. ", as passed this 16th day of November, 1953, and
that same has been published as required by law.
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