HomeMy WebLinkAbout1954-B-1543 591_
ORDINANCE NO. B -1543
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. 761, and providing for the issueance 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 $2,873.40 for the improvement made in
Local Improvement District No. 761 as created and established by Ordinance No. B -14$4 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 28th day of January, 1955, with inter-
est 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 there-
after to become due at the rate of 4 per cent per annum shall be due and payable on or
before the 28th day of January 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 28th day of January of each year in which the same shall be payable, as
provided in Section l.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. 761, there shall be issued bonds of
the District in the sum of $2,873.40, said issue to consist of 14 bonds in the denomin-
ation of $200.00 each and one bond of the denomination of $73.40 to be numbered from one
upwards consecutively, and shall bear interest at the rate of 4 per cent per annum,
payable annually on the 18th day. of February 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 February 18th, 1954, and
approximately 1 /10th of said bond issue shall be payable on or before the 18th day of
February of each year thereafter, to and including the 18th day of February, 1966.
Section 5. This ordinance is one relating to local improvements or assessments
therefor and shall be come effective immediately upon its passage, approval and public-
ation as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 23rd day of February, 1954.
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 -1543 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. 761, and providing for the issueance of bonds with coupons attached for the
payment of the unpaid portion thereof. ", as passed this 23rd day of February, 1954, and
that same has been published as required by law.
/ / J
C TY,CLERK
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