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ORDINANCE NO. B -1954
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. $42, 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 $2,110.$6 for the improvement
made in Local Improvement District No. $42 as created and established by Ordinance No.
B -1$$1 & 1$91 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 19th 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 thereon
and on the installments thereafter to become due at the rate of 4 percent per annum
shall be due and payable on or before the 19th 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 19th 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 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 balanne of the cost and expense
of said improvement in said Local Improvement District No. $42, there shall be issued
'bonds of the District in the sum of $2,110.$6, said issue to consist of 13 bonds in
the denomination of $150 each and one bond of the denomination of $106.$6 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 8th day of November each year, the several installments
of interest to be evidenced by coupons attached to said bonds and both principal and
interest shall be payable at the office of the City Treasurer in the City of Yakima,
Washington.
Section 4. The bonds provided for herein shall be substantially in the
form prescribed by Section 1$ of Ordinance No. A -192 as amended of the ordinances of
the City of Yakima, Washington. They shall be issued under date of November $, 1956,
and approximately 1 /10th of said bond issue shall be payable on or before the 8th
day of November of each year thereafter, to and including the 8th day of November, 1968.
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 29th day of
October, 1956.
ATTEST: J. A. Smith (S E A L) Kenneth C. Schutt
City Clerk for the Mayor
I hereby certify that the foregoing is a full, true and correct copy of Ordinance
No. B -1954 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. $42, and providing for the issuance of bonds with coupons attached for
the payment of the unpaid portion thereof." as passed on the 29th day of October, 1956,
and that same has been published a s required by law.
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