HomeMy WebLinkAbout1956-B-1818 265
ORDINANCE NO. B -1$1$
AN ORDINANCE fixing the time of delinquency of installments of assessments levied for
thepayment of the cost of the improvement in Local Improvement District
No. $12, 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 $5,29$.96 for the improvement
made in Local Improvement District No. $12 as created and established by Ordinance No.
B -1710 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 15th day of December,
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 15th day of December in each year, and shall be collected
in the same' manner as is provided by law and the ordinances of the said City. .
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Section 2. If any of the said installments of principal or interest are
not paid on or before the 15th 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 of 5 per cent
penalty upon both prirdpal 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. $12, there shall be issued
bonds of the District in the sum of $5,29$.$6, said issue to consist of 17 bonds in the
denomination of $300.00 each and one bond of the denomination of $19$.96 to be numbered
from .one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 5th day of January each year, the several installments of
dl interest to be evidenced by coupons attached to-said bonds and both principal and inter -
est shall be payable_at the office of said City Treasurer in the City of Yakima, Wash-
ington. .
Section 4. The bonds provided for herein shall be substantially in the
form 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 January 5th, 1956, and
approximately 1 /10th of said bond issue shall be payable on or before the 5th day of
January of each year thereafter, to and including -the 5th day of January,. 1968.
Section, 5. This ordinance is one relating to local improvements or assess-
ments therefor and shall become effective immediately upon its passage, approval and pub-
lication as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 9th day of
January, 1956. 0
ATTEST: PEARL BENJAMIN (S E A L) . G. W. BURNS,
City Clerk Mayor
III I hereby certify that the foregoing is -a full, true and correct copy of Ordinance
No. B -1$1$ entitled 'SAN 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. $12, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof." as passed this 9th day of January, 1956, and
that same has been published as required by 'law.
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