HomeMy WebLinkAbout1955-B-1762 F 5 - 1B •
ORDINANCE NO B -1762
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. 802, 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 spun of $1,250.63 for the improvement
made in Local Improvement District No. 802 as created and established by Ordinance No.
B -1669 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 26th 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 26th 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 26th day of September of each year in which the same shall be
payable, as provided in Section 1 hereof, the .same shall thereupon become and be delin-
quent 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.
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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. 802, there. shall be issued
bonds of the District in the sum of $1,250.63, said issue to consist of 12 bonds in the
denomination of $100.00 each and one bond of the denomination of $30.63 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 17th day of October each year, the several installments of
interest to be evidenced by coupons attached to said bonds and both principal and inter-
est shall be payable at the office of the City Treasurer in the City of Yakima, Washing-
ton.
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 17th, 1955, and
approximately 1 /10th of said bond issue shall be payable on or before the 17th day of
October of each year thereafter, to and including the 17th day of October, 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 pub-
lication as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 17th day of Oct-
ober, 1955.
ATTEST: - PEARL BENJAMIN (S E A L) • G. W. BURNS
City Clerk. Mayor
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I hereby certify that the foregoing is a full,true and correct copy of Ordinance
No. B -1762 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. 802, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof." as passed on the 17th day of October, 1955 and
that same has been published by law. .
A .
CITY CLERK
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