HomeMy WebLinkAbout1957-B-1988 463
ORDINANCE NO. B -1988
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. 821, and providing for t he issuance of bonds with coupons attached for
the payment of.the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
111 Section 1. That there is unpaid the sum of $2,755.97 for the improvement
made in Local Improvement District No. 821 as created and established by Ordinance No.
B -1745 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 llth day of January,
1958, 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 llth day of January 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 llth day of January of each year in which the same shall be
payable, as provided in Section 1 hereof, the same shall thereupon become and be delin-
quent 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 inter-
est 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. 821, there shall be issued
bonds of the :District in the suns of $2,755.97, and said issue to consist of 18 bonds
in the denomination of $150.00 each and one bond of the denomination of $55.97 to be
numbered from one upwards consecutively, and shall bear interest at the rate of 4 per
cent per annum, payable annually on the 31st day of January each year, the several in-
stallments of interest to be evidenced by coupons attached to said bonds and both prin-
cipal 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 31, 1956,
and approximately 110th of said bond issue shall be payable on or before the 31st
day of January of each year thereafter, to and including the 31st 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 21st 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 -1988 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. 821, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof as passed on the 21st day of January, 1957, and
that the same has been published as required by law.
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/ C L E R K K