HomeMy WebLinkAbout1956-B-1971 445
ORDINANCE NO. B -1971
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. 818, 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 $7,678..71 for the improve-
ment made in Local Improvement District No. 818 as created and established by Ord -
inance No. B -1730 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 7th
day of December, 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 bef ord the 7th day of December 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 7th day of December of each year in which the same shallbe
payable, as provided in Section 1 hereof, the same shall thereupon become and be de-
linquent 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. 818, there shall be issued
bonds of the District in the sum of $7,678.71, said issue to consist of 15 bonds in
the denomination of $500.00 each and one bond of the. denomination of $178.71 to be
numbered from one upwards consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable annually on the 27th 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 provided 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 b e issued under date. of December 27,
1956, and approximately 110th of said bond issue shall be payable on or before the
27th day of December, 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 17th day of
December, . 1956.
ATTEST: J. A. SMITH ( S E A L ) JOE K. ALDERSON
CITY CLERK MAYOR
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I hereby certify that the foregoing :;is a t rue, full and correct copy of Ordinance
No. B-1971 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. 818, 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 December, 195§,
and that same has been published as required by law.
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