HomeMy WebLinkAbout1956-B-1964 4.'JU
ORDINANCE ,NO. B -1964
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. 815, 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 $9,219.16 for the improve-
ment made in Local Improvement District No. 815 as created and established by Ordin-
ance No. B -1717 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 15th
day of November, 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 per cent per
annum shall be due and payable on or before the 15th -of November 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 15th day of November 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 shallbear
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 I .District No. 815, there shall b e issued
bonds of the District in the sum of 9,219.02, said issue to consist of 19 bonds in
the denomination of $500.00 each and one bond of the denomination of $219.02 to be
numbered from one upeards consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable annually on the 15th day of December 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 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 December 15, 1956,
and approximately 110th of said bond issue shall be payable on or before the 15th
day of December of each year thereafter, to and including the 15th day of December,
19 68 .
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 26th day of
November, 1956.
ATTEST: J. A. SMITH ( SEA L ) JOE K. ALDERSON
City Clerk Mayor
I hereby certify that the foregoing is a true, full and correct copy of Ordinance
No. B -1964 _entitled "AN ORDINANCE fixing the of delinquency of installments of
assessments levied for the payment of the cost of the improvement in Local Improvement
District No. 815, and providing fortthe issuance of bonds with coupons attached for
the payment of the unpaid portion thereof as passed on the 26th day of November, 1956,
and that same has been published as required by law.
Y C L E R K