HomeMy WebLinkAbout1956-B-1928 :393
ORDINANCE NO. B -192$
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.839,
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 $4,603.54 for the improvement
madecin Local Improvement District No. $39 as created and established by Ordinance No.
B -1869 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 29th day of August, l957
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 install-
ments thereafter to become due at the rate of 4 per cent per annum shall be due and pay-
able on or before the 29th 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 29th day of August of each year in which the same shall be payable
ad 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. 839, there shall be issued
bonds of the District in the sum of $4,603.54, said issue to consist of 12 bonds in the
denomination of $350.00 each and one bond of the denomination of $403.54 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 29 day of August each year, the several-installments of
interest to be evidenced by coupons attached to said bonds and both principal and interest
shall be payable at the office of the City Treasurer in the City of Yakima, Washington.
Section 4. The bonds provided for herein shall be substantially in the
form prescribed by Section 18 of Ordinance No. A -192 as amended of the ordinances of the
City of Yakima, Washington. They shall be issued under date of 8e.ptember 18, 1956 and ap-
proximately 1 /10th of said bond issue shall be payable on or before the l6th day of
Sept;;'.; of each year thereafter, to and including the f8?th day of Se.ptembm,l968. •
Section 5. This ordinance is one relating to local improvements or assess-
ments therefor and shall become effective immediately upon its passage, approval'and
publication as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 4th day of
September, 1956.
•
ATTEST: J. A. SMITH (S E A L) C. H. BEHNKE
City Clerk Mayor
I hereby certify that the foregoing is a full, true and correct copy of Ordinance
No. B -192$ entitled "AN ORDINANCE fixing the time of delinquency of instailrhents of
assessments levied for the payment of the cost of the improvement in Local Improvement
District No. 839, and providing for the issuance ofbonds with coupons attached for the
payment of the unpaid portion thereof." as passed on the 4th day of September, 1956,
and that same has been published as required by law.
T Y C L E R K