HomeMy WebLinkAbout1955-B-1771 •
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207.
ORDINANCE NO. B -1771
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. 806,. 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 $20,437.38 for the improvement
made in Local Improvement District No. $06 as created and established by Ordinance No.
B - 16$1 of the Ordinances of the City of Yakima, which sha11 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 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 Impprovemennt District No :.. 806, there shall be issued
bonds of the District in the sum of $20,437.38, said issue to consist of 40 bonds in
the denomination of $500.00 each and one bond of the denomination of $437.3$ 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 in-
stallments 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 shall be substantially in the
form prescribed by Section of Ordinance No. A -192 as amended of the ordinances of the
City of Yakima, Washington. They shall be issued under date of November 3, 1955, and
approximately 1 /l0th 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.
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
Thereby certify that the foregoing is a full, true and correct copy of ordinance
.No. B -1771 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. 806, 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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