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ORDINANCE .NO. B -1980
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. 840, 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 86,980.47 for the improvement
made in Local Improvement District No. 840 as created and established by Ordinance No.
B -1872 of the Ordinances of the City of Yakima, which shall b e paid in 10 equal annual II
installments, the first installment to be paid on or before the 27th 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 before the 27th day of December in each year, and shall be col-
lected 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 27th 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 b,e collected as provided by the laws of the State of Washington
and the ordinances of the City of Yakima, and said delinquentassessments 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 interst 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. 840, there shallbe
issued bonds of the District in the sum of $6,980.47, said issue to consist of 13
bonds in the denomination of $500.00 each and one bond of the denomination of $480.47
to be numbered from one upwards consecutively, and shall bear interest at the rate
of 4 per cent per annum, payable annually on the 17th day of January each year, the
several installments of interest to b e 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 be issued under date of January 17, 1957,
and approximately 110th of said bond issue shall be payable on or before the 17th
day of January of each year thereafter, to and including the 17th day of January, 1969.
Section 5. This ordinance is one relating to local improvements or assess-
ments 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 3rd day of Jan-
uary, 1957.
ATTEST: J. A. SMITH ( S E A L ) JOE. K. ALDERSON
CITY CLERK MAYOR
I hereby certify that the foregoing is a true, full and correct copy of Ordinance
No. B -1980 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. 840, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof as passed on the 3rd day of January, 1957, and
that same has been published as required by law.
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