HomeMy WebLinkAbout1956-B-1920 384
ORDINANCE NO. B -1920
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.$35,
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 $1,0$6.2$ for the improvement
made in Local Improvement District No. $35 as created and established by ,Ordinance
No. B -1$56 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 2nd day of
August, 1956, 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 2nd day. of August 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 2nd day of August 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. $35, there shall be issued
bonds of the District in the sum of said issue to
bonds in
denomination of $75.00 each and one bon d of the
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 22 day of August each year, the several installments of
interest to be evidenced by coupons attached to said bonds and both principal and
interest shall be payable at the office of the City Treasurer in the City of Yakima,
Washington.
Section 4. The bonds provided for herein shall be substantially in the
form prescribed by Section 1$ of Ordinance No. A-192 as amended of the ordinances of the
City of Yakima, Washington. They shall be issued under date of August 22, 1956, and
approximately hl/ earhthereafter bond
to issue
including the of August, the
196$2 day of
August of each year thereafter,
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 13 day of August,
1956.
ATTEST: J. A. SMITH ( SEAL ) C. H. BEHNKE
City Clerk Mayor
I hereby certify that the foregoing is a full, true and correct copy of Ordinance
No. B -1920 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. $35 , and providing for the' issuance of bonds with coupons attached for
the payment of the unpaid portion thereof." as passed on the 13th day of August, 1956,
and that same has been published as required by law.
T Y C L E R K