HomeMy WebLinkAbout1956-B-1851 306
• ORDINANCE NO. B=1851
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. $17
and providing for the issuance of bonds with coupons attached for the pay -
ment of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of $8325.15 for the improvement
made in Local Improvement District No. 817 as created and established by Ordinance Novi
B -1723 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 27th 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 in-
stallments thereafter to become due at the rate of 4 per cent per annum shall be due and
payable on or before the 27th 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 27th 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
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 Improvement District No. $17, there shall be issued bonds
of the District in the sum of $8325.15, said issue to consist of 16 bonds in the.denomina-
tion of 5325.15 to be numbered from one upwards consecutively, and shall bear interest
at the rate of 4 per cent per annum, payable annually on the 16th 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 Treas-
urer in the City of Yakima, Washington.
Section L.. The bends 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 16, 1956, and
approximately 1 /10th of said bond issue shall be payable on or before the 16th day of
February of each year thereafter, to and including the 16th day of February, 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
publication as provided by the City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 20th 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-1851 entitled "AN ORDINANCE fixing the time of delinquency of installments of as-
sessments levied for the payment of the cost of the improvement in Local Improvement
District No. 817, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof." as passed this 20th day of February, 1956, and
that same has been published as required by law.
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CIiI� Y C.L E R K
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