HomeMy WebLinkAbout1956-B-1857 ¶i2
ORDINANCE NO. B -1857
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. 784, 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 $4,504.98 for the improvement
made in Local Improvement District No. 784 as created and established by Ordinance No.
B -1591 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 23rd 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
installments thereafter to become due at the rate of 4 per cent per annum shall be due
and payable on or before the 23rd 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 23rd 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 delin-
quent and shall ollected as ovided by the laws of. he Ste of Washington and the
ordinances of the be City c of Yakima and said delinquent assess men 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. 784, there shall be issued
bonds of the District in the sum of $7,504.9 said issue to consist of 15 bonds in the
denomination of .$500.00 each and one bond of the denomination of $4.98 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 15th day of March each year, the several installments of
interest to be evidenced by coupons attached to said bonds and both principal and inter-
est 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 March 15th, 1956, and approxi-
mately 1 /10th of said bond issue shall be payable on•or before the 15th day of March of
each year thereafter, to and including the 15th day of March, 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 12th day of
March, 1956.
ATTEST: PEARL BENJAMIN (S E A L) G. W. TURNS,
City Clerk Mayor
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• I hereby certify that the foregoing is a full, true and correct copy of Ordinance No.
B - 1857 entitled "AN ORDINANCE fixing the time of delinquency of installments of assess-
ments levied for the payment of the cost of the improvement in Local Improvement District
No. 784, and providing for the issuance of bonds with coupons attached for the payment of
the unpaid portion thereof." as passed this 12th day of March, 1956, and that same has
been published as required by law.
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