HomeMy WebLinkAbout1954-B-1569 r 622
ORDINANCE NO. B -1569
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. 768
and providing for the issuance 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 3926.35 the improvement made
in Local Improvement District No. 768 as created and established by Ordinance No. ,B-1520
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 3rd day of Apri1,1955, with in-
terest 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 3rd day of April 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 3rd day of April of each year in 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 balance of the cost and expense of
said improvement in said, Local Improvement District No. 768, there shall be issued bonds
of the District in the sum of $926..35, said issue to consist of 12 bonds in the denomina-
tion of $75.00 each and one bond of the denomination of $26.35 to be numbered from'one
upwards consecutively, and shall bear interest at the rate of 4 per cent per annum, pay-
able annually on the 2?th. day. of April each year, the several installments 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_ date of April 24th, 1954, and approxi-
mately 1 /10th of said bond issue. shall be payable on or before the 24th day of April of
each year thereafter, to and including the 24th 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 City Charter.
.PASSED BY THE CITY COMMISSION, signed and approved this 14th day of June,
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 -1569 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. 768, 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 siet,
C L E R K
•
•