HomeMy WebLinkAbout1954-B-1629 .517
ORDINANCE NO B -1629
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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. 771,
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 $3,421.94 for the improvement
made in Local Improvement District No. 771 as created and established, by Ordinance No. ,
B -1564 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 24th day of November,
1 955, 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 in-
stallments thereafter to become due at the rate of 4 per cent per annum shall be due and
payable on or before the 24th day of November 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 24th day of November 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 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.
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Section 3. For the payment of the unpaid balance of the cost and expense of
said improvement in said Local Improvement District No. 771, there shall be issued bonds
of- the District in the sum of $3,421.94, said issue to consist of 17 bonds in the denomi-
nation of $200.00 each and one bond of the denomination of. $21.94 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 15th day of December 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 December 15th, 1954, and
- approximately 1 /10th of said bond issue...shall be payable on or before the. l5th day of
December of.each year thereafter, to and including the 15th day of December, 1966.
Section 5. This ordinance is one relating to local,improvements or assess-
ments therefor and shall be come effective immediately upon its passage, approval and
publication as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 13th day of December, .
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 -1629. entitled "AN ORDINANCE fixing the time of delinquency of installments of
assessnents levied for the payment of the cost of the improvement in Local Improvement
District No. 771, and providing for the issuance of bonds with coupons,attached for the
payment of the unpaid portion thereof." as passed.on the 13th day of December, 1954 and
that has been published by law. .
C I'Y CLERK
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