HomeMy WebLinkAbout1953-B-1517 559
ORDINANCE NO. B -1517
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.
756, 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: •
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Section 1. That there is unpaid the sum of $5,17$.12 for the improvement made in
Local Improvement District No. 756, as created and established by Ordinance No. B -1459
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 29th day of October, 1954, with
interest 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 per cent per annum shall be daze and payable
on or before the 29th 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 29th 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 valance of the cost and expense of
said improvement in said Local Improvement District No. 756, there shall be issued bonds
of the District in the sum of $5,17$.12, said issue to consist of 10 bonds in the denom-
ination of $500.00 each and one bond of the denomination of $17$.12 to be numbered from
one upwards consecutively, and shall bear interest at the rate of 4 per cent per annum,
payable annually on the 19th 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, Wash-
ington. .
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 Nov. 19th, 1953, and approxi-
mately 1 /10th of said bond issue shall be payable on or before the 19th day of November
of each year thereafter, to and including the 19th 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 ( SEAL ) G. W. BURNS
City Clerk Mayor
I hereby certify that the foregoing is a true, full and correct copy of Ordinance
No. B-1517 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. 756, 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.
C I T C L E R K
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