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604
ORDINANCE NO. B -1551
20TH AVENUE SOUTH SEWER DISTRICT
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. 760,
and providing for the issuance of bonds with coupons attached for the pay-
ment of the unpaid portion thereof.
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BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is .unpaid the sum of $17,931.34 for the improvement
made in Local Improvement District No. 760 as created and established by Ordinance No.
B -14$0 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 26th day of March, 1955,
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 install-
ments thereafter to become due at the rate of 4 per cent per annum shall be due and pay-
able on or before the 26th day of March 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 26th day of March 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 percent per annum until paid and be subject to a charge of 5 percent 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. 760, there shall be issued bonds ;,
of the District in the sum of $17,931.34, said issue to consist of 35 bonds in the denom -•
ination of ..500.00 each and one bond of the denomination of $431.34 to be numbered from
. one upwards consecutively, and shall bear interest at the rate of 4 percent per annum,
payable annually on the 16th day of April each year, the several.'.instal_lments 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
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 day of April 16th, 1954, and approxi-
mately 1 /10th of said bond issue shall be payable on or before the 16th day of April of
each year thereafter, to and including the 16th day of April, 1966.
Section 5. This ordinance is one relating to local improvements or assess -
ments therefor and shall become effective immediately upon its passage, approval and
publication "as provided by the•City.Charter.
• PASSED BY THE CITY COMMISSION, signed and approved this 19th day of April,
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 -1551 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. 760 and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof. ", as passed this 19th day of April, 1954 and that
same has been published as required by law.
C I T Y C L E R K
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