HomeMy WebLinkAbout1956-B-1852 307' -
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ORDINANCE NO. B -1852
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. $22
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 $2772.37 for the improvement
made in Local Improvement District No. $22 as created and established by Ordinance No.
B -1746 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 February,
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 delinquent 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
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4 per cent' per annum until paid and be subject toa 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. $22, there shall be issued bonds
of the District in the sum of $2772.37, said issue to consist of 13 bonds in the denomin-
ation of 1200.00 each and .one bond of the denomination of $172.37 to be' numbered from one
upwards consecutively, and shall bear interest at, the rate of 4 per cent per annum, pay-
able 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 Treasurer inithe City of Yakima, Washington.
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Section 4. The bonds provided for herein shall be substantially in theform
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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 16th, 1956, and ap=
• proximately 1 /10th of said bond issue shall bepayable on or before the 16th day of Feb-
ruary 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 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 -1852 entitled "AN ORDINANCE fixing the time lof delinquency of installments of
assessments levied for the payment of the cost ofIthe improvement in Local Improvement
District No. $22, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof." as: passed ithis 20th day of February, 1956, and •
that same has been published as required by law.
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