HomeMy WebLinkAbout1955-B-1652 I4 ..
ORDINANCE NO. B -1652
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. 783, and providing for the issuance of bonds with coupons attached for
the payment of the unpaid portion thereof..
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of $958.28 for the improvement
made in Local Improvement District No. 783 as created and established by Ordinance No.
B -1589 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 6th day of January, 1956
with interest on the whole unpaid sum at the rate of 4% per cent per annum, and each yea
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 6th day of January in each year, and shall be collected in the sam.;
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 nou
paid on or before the 6th day of January 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 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. 783, there shall be issued
bonds of the District in the sum of $958.28, said issue to consist of 18 bonds in the
denomination of $50.00 each and one bond of the denomination of $58. to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 27th day of January 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 fors
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 January 27th, 1955, and ap-
proximately 1 /10th of said bond issue shall be payable on or before the 27th day of Janu
ary of each year thereafter, to and including the 27th day of January, 1967.
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 31st day of Janu-
ary, 1955.
ATTEST: PEARL BENJAMIN (S E A L) G. W. BURNS
City Clerk 0 Mayor
I hereby certify that the foregoing is .a full, true and correct copy of Ordinance
No. B -1652 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. 783, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof." as passed on the 31st day of January, 1955 and
that has been published by law.
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CITY ALER.K