HomeMy WebLinkAbout1957-B-2010 41)2
ORDINANCE NO.-B-2010
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.
837, 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 $16,617.54 for the improvement
made in Local Improvement District No. 837 as created and established by Ordinance No
B -1862 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 20th 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 install-
ments thereafter to become due at the rate of 4 per cent per annum shall be due and pay-
able on or before the 20th 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 20th day of March 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 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. 837, there shall be issued bonds
of the District in the sum of $16,617.54, said issue to consist of 33 bonds in the de-
nomination of $ 500.00 each and one bond of the denomination of $ 117.54 to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 10th day of April each year, the several installments of
interest to be evidenced by coupons attached to said bonds -and both principal and inter-
est shall be payable at the office of the City Treasurer in the City of Yakima, Washing-
ton.
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 April 10, 1957, and app-
roximately 110th of said bond issue shall be payable on or before the 10th day of April
of each year thereafter, to and including the 10th day of April, 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 25th day of March,
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 -2010 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. 837, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof." as passed on the 25th day of March, 1957, and
that the same has been published as required by law.
'Y C L E R K