HomeMy WebLinkAbout1956-B-1972 ORDINANCE NO. B -1972
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. 838, and providing for the issuance of bonds with coupons attached
fort he payment of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of $1,837.85 for the improve-
ment made in Local Improvement District No. 838 as created and established by Ord-
inance No. B -1868 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 ani}um shall b e due and payable on or before 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 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
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
Washingtonand the ordinances of. the City of Yakima, acid 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 ex-
pense of said improvement in said Local Improvement District No. 838, there shallbe
issued bonds of the District in the sum of $1,837.85, said issue to considt of 11
bonds in the. denomination of .150.00 each and one bond of the denomination of $187.85
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 kt 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 be issued under the date of December 27,
1956, and approximately 110th of said bond issue shall b e payable on or before the
27th day of December of each year thereafter, to and including 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 true, full` and correct:copy of drdiriarice
No. B -1972 entitled AN ORDINANCE fixing the time of delinquency of installments of
assessments levied for the payement of the cost of the improvement in Local Improve-
ment District No.838, 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,
1956, and that same has been published as required by law.
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00F/'I' CLERK