HomeMy WebLinkAbout1955-B-1770 � 06
ORDINANCE NO. •
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. 801, 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 $5,279.65 for the improvement
made. in Local Improvement District No. 801 as created and established by Ordinance No.
B- T66L,, 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 percent 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 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 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 delinquent and
shall be collected as provided by the laws of the State of Washington and the ordinances
of the U ity 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. 801, there shall be issued bonds
of the District in the sum of $5,279.65, said issue to consist of. 17 bonds in the denom-
ination of 300.00 each and one bond of the denomination of $179.65 to be numbered from
one._ upwards .consecutively, and shall bear interest at the rate of 4 per cent per annum,
payable annually on the 3rd day of November each year, the several installments of
interest t� be evidenced by coupons attached to said bonds and both principal and inter-
est shall be payable at the office of the ity Treasurer in the City of Yakima, Washington
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Section /. 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. t hey shall be issued under date of November 3, 1955, and
approcimately 1 /10th of said bond issue shall be payable on or before the 3rd day 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 -1770 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. 801, 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 the same has been published by law.
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