HomeMy WebLinkAbout1954-B-1547 x 600
ORDINANCE NO. B -1547
AN fixing the time of delinquency of installments of assessments levied for the
payment of the cost of the improvement in Local Improvement District No. 762,
and providing for the issueance of bonds with coupons attached for the pay-
ment of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of X5,390.88 for the improvement made in
Local Improvement District No. 762 as created and established by Ordinance No. B -1488
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 18th day of February, 1955, 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 due and payable on
or before the 18th day of February in each year, and shall be collected om 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 18th day of February of each year in which the same shall be pay-
able, 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 ordin-
ances 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. 762, there shall be issued bonds of
the District in the sum of x.5390.00, said issue to consist of 10 bonds in the denomination
of $500.00 each and one bond of the denomination of $p39O.88 to be numbered from one up-
wards consecutively, and shall bear interest at the rate of 4 per cent per annum, pay-
able annually on the llth day of March of each year, the several installments of interest
to be evidenced by coupons attached tomid 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
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 March llth, 1954, and approxi-
mately 1 /10th of said bond issue shall be payable on or before the llth day of March of
each year thereafter, to and including the llth day of March, 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 15th day of March, 1954.
ATTEST: PEARL BENJAMIN ( SEAL ) G. W. BURNS
City Clerk Mayor
I hereby certify that the foregoing is a full, true and correct copy of Ordinance
No. B=1547 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. 762, and providing for the issueance of bonds with coupons attached for the
payment of the unpaid portion thereof. ", as passed this 15th day of March, 1954, and that
same has been published as required by law.
�4
C I T ` C L E R K