HomeMy WebLinkAbout1956-B-1838 r2 8 8
ORDINANCE NO. B -1$3$
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.
$20, 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's unpaid the sum of $2,279.$$ for the improvement
made in Local Improvement District No. $20 as created and established by Ordinance No.
B -1737 . of the Ordinances of the City of Yakima, which shall be paid in 10 equal annual
installments, the first installment to be paid on or before the 19th day of January, 1957,
with interest on the whole unpaid sum at the rate of 4 per cent per annum, and each year
thereafter one of such installments together with interest thereon and on the install-
ments thereafter to become due at the rate of 4 per cent per annum shall be due and pay-
able on or before the 19th day of January in each year, and shall be collected in the
same manner as is provided by law and the ordinances of the said City.
Section 2. If any of the said installments of principal or interest are
not paid on or before the 19th day of January of each year in which the same shall be
payable, as provided in Section 1 hereof, the same shall thereupon become and be delin-
quent and shall be collected as provided by the laws of the State of Washington and the
ordinances of the City of Yakima, and said delinquent assessments shall bear interest at
the rate of 4 per cent per annum until paid and be subject to a charge of 5 per cent -pen-
alty upon both principal and interest due thereon.
Section 3. For the payment of the unpaid balance of the cost and expense
of said improvement in said Local Improvement District No. 820, there shall be issued
bonds of the District in the sum of $$2,279.$$, said issue to consist of 11 bonds in the
denomination of $200.00 each and one bond of the denomination of $79.98 to be numbered
from one upwards consecutively, shall bear interest at the rate of 4 per cent per
annum, payable annually on the 9th day of February 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 18 of Ordinance No. A -192 as amended of the ordinances of the City
of Yakima, Washington. They shall be issued under date of February 9th, 1956, and appr-
oximately 1 /10th of said bond issue shall be payable on or before the 9th day of Feb-
ruary of each year thereafter, to and including the 9th day of February, 1968.
Section 5. This ordinance is one relating to local improvements or assess-
ments therefor and shall become effective immediately upon itsspassage, approval and
publication as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 6th day of
February, 1956.
ATTEST: PEARL BENJAMIN (S E A L) G. W. BURNS,
City Clerk Mayor
I hereby certify that the foregoing; is a full, true and correct copy of Ordinance
No. B -1838 entitle(' "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. 820, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof.” as passed on the 6th day of February, 1956, and
that same has been published as required by law.
C I T Y C L E R K