HomeMy WebLinkAbout1956-B-1931 I96
ORDINANCE NO. B -1931
AN ORDINANCE fixing the time of delinquency of installments of assessments levied for thz .
payment of the cost of the improvement in Local Improvement District No.83 6
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 410,$5$.,32 for the improvement
made in Local Improvement District No. $36 as created and established by Ordinance No.
B -1$5$ 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 5th day of September,195
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
payable on or before the 5th day of September 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 5th day of September of each year in which the same shall be payab
le, 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 ordin-
ances 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 o
said improvement in said Local Improvement District No. $36, there shall be issued bonds
of the District in the sum of $10,$5$.32, said issue to consist of 21 bonds in the denom
ination of :500.00. each and one bond of the denomination of 05$.22 to be numbered from
one upwards consecutively, and shall bear interest at the rate of 4 per cent per annum,
payable annually on the ath day of September each year, the several installments of
interest to be evidenced by coupons attached to said bonds and both principal and interes
shall be payable at the office of the City Treasurer in the City of Yakima, Washington.
Section 4.. The bonds provided for herein shall be substantially in the for
prescribed by Section 1$ of Ordinance No. A -192 as amended, of the ordinances of the City
of Yakima, Washington. They shall be issued under date of Sep tember4, 1956, and approxi
mately 1 /10th of said bond issue shall be payable on or before the22th day of September
of each year thereafter, to and including the2(ith day of September 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 17th 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 -1931 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. $36, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof." as passed on the 17th day of September, 1956, and
that same has been published as required by law.
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