HomeMy WebLinkAbout1956-B-1932 397
ORDINANCE NO. B-1932
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.823,
and providing for the issuance of bonds with coupons attached for the paymem
of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA.
11 Section 1. That there is unpaid the sum of $6,$16.45 for the improvement
made in Local Improvement District No. $23 as created and established by Ordinance No.
B -1747 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 12th day of September,
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 instal-
lments thereafter to become due at the rate of 4 per cent per annum shall be due and
payable on or before the 12th 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 12th day of September of each year in which the same shall be
payable, as provided in Section 1 hereof, the same shall thereupon become and be delinq-
uent 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. $23, there shall be issued
bonds of the District in the sum of $6,$16.45, said issue to consist of 13 bonds in the
denomination of $500.00 each and one bond of the denomination of $316.45 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the gri.012 day of actober.�..'' each year, the several installments
of interest to be evidenced by coupons attached to said bonds and both principal and
interest shall be payable at the office of the City Treasurer in the City of Yakima,
Washington.
Section 4. The bonds provided for herein shall be substantially in the form
prescribed by Section 1$ of Ordinance No. A -192 as amended of the ordinances of the City •
of Yakima, Washington. They shall be issued under date of O'c oberr. 2nd,: _ 1956, and
approximately 1/10th of said bond issue shall be payable on or before the 12th day of
;Oct'ober: of each year thereafter, to and including the -trial day of October- ', 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 pub-
lication as provided by City Charter.
PASSED BY THE CITY COMMISSION, signed and approved this 19 day of September,
1956.
ATTEST: J. A. SMITH (S E A L) C.H.BEHNKE
City Clerk Mayor
11 I hereby certify that the foregoing is a full, true and correct copy of Ordinance
No. B -1932 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. $23, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof." as passed on the 19th day of September, 1956,
and that same has been published as required by law.
T Y C L E R I C