HomeMy WebLinkAbout1953-B-1516 P r-
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ORDINANCE NO. B-1516
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.
755, 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 51,035.13 for the improvement made in
Local Improvement District No. 755, as created and established by Ordinance No. B -1458 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 inter-
est on the whole unpaid sum at the rate of 4 per cent per annum, and each year there-
after one of such installments together with interest thereon and on the installments
thereafter to become due at the rate of 4 percent per annum sahll be due and payable
on or before the 22nd day of October in eacy 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 eacy 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
improve ent in said Local Improvement District No. 755, there shall be issued bonds of
the District in the sum of $1,035.13, said issue to consist of 10 bonds in the denomin-
ation of 100.00each and one bond of the denomination of 0.5.13 to be numbered from one
upwards consecutively, and shall bear interest at rate of 4 per cent per annum,
payable 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 inter-
est 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. A -192 as amended of the ordinances of the City
of Yakima, Washington. They shall be issued under date of November 12th, 1953, and
approximately 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
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I hereby certify that the foregoing is a full, true and correct copy of Ordinance
No. B -1516 entitled "AN ORDINANCE fixing the time of delinquency o.f installments of
assessments levied for the payment of the cost of the improvement in Local Improvement
District No. 755, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof.", as passed this 16th day of November, 1953, and
that same has been published as required by law.
IT/ C L E R K
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