HomeMy WebLinkAbout1955-B-1773 •
ORDINANCE NO. B -1773
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. 803, 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. t hat there is unpaid the sum of $8,1$6.51 for the improvement
made in Local Improvement District No. 803 as created and established by Ordinance No.
B -1678 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 20th 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 20th day of October in each year, and shall be collected
in the same manner as is gr ovided 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 20th day of October of each year in which the same shall be
payable, as provided in Section 1 hereof, the same sh11 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 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 rovement•District No. 803, there shall be issued
bonds of the District in the sum of $8,186.51, said issue to consist of 16 bonds in the
denomination of $500.00 each and one bond of the denomination of $186.51 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 10th 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..
Section 4. The bonds provided for herein shall be substantially in the
form prescribed by Section 1£L of Ordinance No. A -192 as amended of the ordinances of the .
City of Yakima, Washington. 'hey shall be issued under.date of November 10th, 1955,
and approximately.l /10th of said bond issue shall be payable on or before the 10th day
of November of each year thereafter., to and including the 10th day of November, 1967.
Section 5. This ordinance is one relating to local improvements or assess-
ments or assessments 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..
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ATTEST: PEARL BENJAMIN (S E A L) G. W. BURNS
City Clerk
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Mayor
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I hereby certify that the foregoing is a full, true and correct copy of Ordinance
No. B - 1773 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. 803, 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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