HomeMy WebLinkAbout1955-B-1763 •
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ORDINANCE NO. B -1763
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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. 805,
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 $1,006.55 for the improvement
• made in Local Improvement District No. 805'as created and established by Ordinance No.
B -1680 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 29th day of September,
1956, with interest on the whole unpaid sum at the rate of 4 per cent per annum, and each
year 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 29th 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. •
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Section 2. If any of the said installments of principal or interest are not
paid on or before the 29th 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 Im rovementoDistrict No. 805, there shall be issued
bonds of the District in the sum of $1,006.55, said issue to consist of 19 bonds in the
denomination of $50.00 each and one bond of the denomination of $56..65 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 20th day of October 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 sh211 be substantially in the
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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 20, 1955, and
approximately 110th of said bond issue shall be payable on or before the 20th day of
October of each year thereafter, to and including the 20th day of October, 1967.
Section 55. 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.
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PASSED BY THE CITY COMMISSION, signed and approved this 17th day of
October, 1955.
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ATTEST: PEARL BENJAMIN (S E A L) G. W. BURNS
City Clerk Mayor
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I I hereby certify that the foregoing is a full true and correct copy of Ordinance
No. B -1763 entitled "AN ORDINANCE fixing the time of delinquency of installments of
• assessments for the payment of the cost of the improvement in Local Improvement
District No. 805, 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.
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C I T Y L E R K
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