HomeMy WebLinkAbout1954-B-1568 •
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ORDINANCE NO. B -1568
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. 766, and providing for the issuance of bonds with coupons attached for
the .payment 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 $1,187.71 for the improvement
made in Local Improvement District No. 766 as created and established No.
B -1508 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 18th 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 18th 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 18Th day of'March of each year in which the same shall be pay-
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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 ordi-
nances 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 the cost and expense
of said improvement in said - Local Im rovement'District No. 766, there shall be issued
- bonds of the District in the', sum of .1 said_ issue to consist of 11 bonds in the
denomination of $100.00 each and one bond of_the denomination of $87.71 to be numbered
from one upwards and shall bear interest at the rate of,4 per cent. per •
annum, payable annually on the 8th day -of April each year, the several installments of
interest to be evidenced by 'coupons attached to said bonds and both principal and 'in-
tere.st. shall be payable at the office of. the City Treasurer in the City of Yakima,
Washington. •
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Section 4-. The'Ibonds 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 April 8th, 1954, and
approximately 1 /10th- .of•saidibond issue shall be payable on or before the 8th day of
April of each year thereafter, to and including the 8th day of April, 1966.
• Section 5, Thie 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 City Charter,
• PASSED BY THE CITY COMMISSION, signed and approved this 14th day of June,
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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 - 1568 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. 766, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof." as passed this 14th day of June, 1954 and that
same has been published as required by law.
C I T C L E R K
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