HomeMy WebLinkAbout1955-B-1804 ORDINANCE NO... B -1$04
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. $04, 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:
11 Section 1. That there is unpaid the sum of 113,599.97 for the improvement
made in Local Improvement District No. $04 as created and established by Ordinance No.
B -1679 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 8th day of WDecem ber,
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 8th day of December in each year, and shall be collected
in the 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 8th day of December 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 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 oil
said improvement in said Local Improvement District No. $04, thereshall be issued bonds
of the District in the sum of $3,599.97, said issue to consist of 11 bonds in the denom-
ination of $300.00 each and one bond of the denomination of $299.97 to be numbered from
one upwards consecutively, and shall bear interest at the rate of 4 per cent per annum,
payable annually on the 29th day of December each year , the several installments of in-
terest to be evidenced by coupons attached to said bonds and both principal and interest.
shall be payable at the office of the City Treasurer in the City of Yakima, Washington.
Section 4. The bonds provided for herein shall be substantially in the for
prescribed by Section 1$ of Ordinance No. A -192 as amended of the ordinances of the City
of Yakima, Washington. They shall be issued under date of December 29th, 1955, and
approximately 1 /10th of said bond issue shall be payable on or before the 29th day of
December of each year thereafter, to and including the 29th day of December, 1957.
Section 4. This ordinance is one relating to local improvement 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 27th day of Decem-
ber, 1955.
ATTEST: PEARL BENJAMIN (S E A L) G. W. BURNS,
City Clerk Mayor
11 I hereby certify that the foregoing is a full, true and correct copy of Ordinance
No. B -1$04 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. $04, and providing for the issuance of bonds with coupons attached for the .
payment of the unpaid portion thereof." as passed this 27th day of December, 1955, and
that same has been published as required by law.
&P.21
Lt. ,- ra -s.a f
'C I TY CLERK
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