HomeMy WebLinkAbout1956-B-1853 ¶®8
ORDINANCE NO. B -1853
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.
827, 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 $1329.32 for the improvement
made-in Local Improvement District No. $27 as created and established by Ordinance No.
B -1757 of the Ordinances of the City of Yakima, which shall be paid in 10 eugal annual
installments, the first installment to be paid on or before the 3rd 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 3rd day of February 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 3rd day of February 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 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. $27, there shall be issued bonds
of the District in the sum of $1329.32, said issue to consist of 13 bonds in the denom-
ination of $100.00 each and one bond of the denomination of $29.32.to be numbered from
one upwards consecutively, and shall bear interest at the rate of 4 per cent per annum,
payable annually on the 24th day of February each year, the several installments of in-
terest to be evidenced by coupons attached tosaid bonds and both principal and interest
shall be payable at the office of the City Treasurer in the City of Yakima, Washington.
Section 4. The bonds provided for herein shall be substantially in the form -
prescribed by Section 1$ of Ordinance No. A -192 as amended of the ordinances of the City
of Yakima, Washington. They shall be issued under date of February 24th, 1956, and ap-
proximately 1/10th of said bond issue shall , be payable on or before the 24th day of Feb-
ruary of each year, thereafter, to and including the 24th 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
publicationas 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 -1853 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. 827, 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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C I T i C L E R K
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