HomeMy WebLinkAbout1955-B-1751 179
ORDINANCE.NO. B-1751
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. 780,
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 $22,117.30 for the improvement
made in Local Improvement District No. 780 as created and established by Ordinance No.
B -1585 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 8th day of September,
1956, 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 8th 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 8th 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 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 4 per cent penalty
upon both principal and interest due
Section 3. For the payment of the unpaid balance of the cost and expense of
said improvement in said Local Improvement District No. 780, there shall be issued bonds
of the District in the sum of $22,117.30, said issue to consist of 44 bonds in the de-
nomination of $500.00 each and one bond of the denomination of $117.30 to be numbered
from one upwards consecutively, and shall bear interest at the rate of . per cent per
annum, payable annually on the 29th day of September 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, Wash
ington.
Section L• 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 September 29th, 1955, and
approximately 1 /l0th of said bond issue shall be payable on or before the 29th day of
September of each year thereafter, to and including the 29th day of September, 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 pu.
lication as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 3rd day of October,
1955.
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 -1751 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. 780, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof." as passed on the 3rd day of October, 1955 and
that has been published by law.
C I T Y CLERK
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