HomeMy WebLinkAbout1956-B-1946 419
ORDINANCE NO. B -1946
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. $19, 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:
11 Section 1. That there is unpaid the sum of $7,206. for the improvement
made in Local Improvement District No. $19 as created and established by Ordinance
No. B -1736 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
October, 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 there&
on 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 5th day of October 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 October 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 Washingto n
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. $19, there shall be issued
bonds of the District in the sum of $7,206.0$, said issue to . consist of 14 bonds in
the denomination of $500.00 each and one bond of the denomination of $206.0$ to be
numbered from one upwards consecutively, and shall bear interest at the rate of 4
per cent per annum, payable annually on the 25th day of October 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 October 25, 1956,
and approximately 1 /10th o.f said bond issue shall be payable on or before the 25th
day of October of each year thereafter, to and including the 25th day of October,196$.
Section 5. This ordinance is one relating to local improvements or
assessments 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 17 day of
October, 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 -1946 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. $19, 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 October, 1956, and that same has been published as required by law.
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