HomeMy WebLinkAbout1955-B-1769 205
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ORDINANCE NO. B -1769
AN ORDINANCE fixing the time of delinquency of installments of assessments levied for
the cost of the improvement in Local Improvement District No. 796, 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':
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Section 1. That there is unpaid the sum of $3,320.07 for the improvement
made in Local Improvement District No. 796 as. created and established by Ordinance No.
B -163$ 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 13th day of October,
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
installments thereafter to become due at the rate of 4 per cent per annum shall be due
and payable on or before the 13th day of October 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 13th day of october 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 shell 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 the cost and expense
of said improvement in said Local Im rovement •District No. 796, there shall be issued
bonds of the District in the sum of $3,320.07, said issue to consist of 16 bonds in the
denomination of $200.00 each and one bond of the denomination of $120.07 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, Payable annually on the 3rd day of November each year, the several installments
of interest to be evidenced by coupons attached to said bonds and both principal and
interest shall be payable at the office of the City Treasurer in the City of Yakima,
Washington.
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Section 4. The bonds provided for herein shall be substantially in the
form prescribed by Section 1$ Ordinance No. A -192 as amended bf the ordinances of the
City of Yakima, Washington. 'hey shall be issued under date of November 3, 1955, and
approximately 1 /10th of said bond issue shall be payable on or before the 3rdchy of •
November of each year thereafter, to and including the 3rd day of November, 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.
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• PASSED BY THE CITY COMMISSION, signed and approved this 31st day of
October, 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- 1769 "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. 796, 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 October, 1955
and that same has been published by law.
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