HomeMy WebLinkAbout1954-B-1613 X34
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ORDINANCE NO. B -1613
AN ORDINANCE fixing the time of delinquency of installments of assessments levied for the
payment of the cost of the imprbvement in Local Improvement District No. 769,
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 YAKIIVIA:
Section 1. That there is unpaid the sum of $2,476.35 for the improvement
made in Local Improvement District No. 769 as created and established by Ordinance No.
B -1561 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 23rd day of September,
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 23rd day of September 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 23rd day of September 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. 769, there'shall be issued bonds
of the District in the sum of $2,476.35, said issue to consist of 12 bonds in the denom-
ination of $200.00 each and one bond of the denomination of $76.35 to be numbered from
one upwards consecutively, and shall bear interest at the rate of 4 per cent per annum,
payable annually on the 13th day of October each year, the several installments of int-
erest 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 October 13th, 1954, and approx.
imately 110th of said bond issue shall be payable on or before the 13th day of October
of each year thereafter, to and including the 13th day of October, 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 pub-
lication as provided by the City Charter.
PASSED BY THE CITY COJMISSION, signed and approved this 25th day of October,
1954.
ATTEST: PEARL BENJkMIN (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 -1613, 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. 769, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof." as passed on the 25th day of October, 1954 and
that same has been published as required' by law.
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GI Y C LERK
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