HomeMy WebLinkAbout1957-B-2007 489
ORDINANCE NO.' B -2007
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. 834, 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:
11 Section 1. That there is unpaid the sum of $14,194.72 for the improvement
made in Local Improvement District No. 834 as created and established hy Ordinance No.
B -1848 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 6th day of March, 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 in-
stallments thereafter to become due at the rate of 4 per cent per annum shall be due and
payable on or before the 6th day of March 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 6th day of March, of each year in which the same shall be pay-
able, 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 ordin-
ances 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. 834, there shall be issued
bonds of the District in the sum of $14,194,72, said issue to consist of 28 bonds in the
denomination of $ 500.00 each and one bond of the denomination of $ 194.72 to be num-
bered from one upwards consecutively, and shall bear interest at the rate of 4 per cent
per annum, payable annually on the 26th day of March 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 be issued under date of March 26th, 1957,
and approximately 110th of said bond issue shall be payable on or before the 26th day
of March of each year thereafter, to and including the 26th day of March, 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 18th day of March,
1957. -
ATTEST: J. A. SMITH
CITY CLERK ( S E A L ) JOE K. ALDERSON
MAYOR
11 I hereby certify that the foregoing is ,a true, full and correct copy of Ordinance
No. B -2007 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. 834, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof.!' as passed on the 18th day of March, 1957, and
that the same has been published as required by law. 7 Y2 CLERK