HomeMy WebLinkAbout1957-B-2050 541
ORDINANCE NO. B -2050
AN ORDINANCE fixing the time of delinquency of installmants of assessments levied for the
payment of the cost of the improvement in Local Improvement District No.
843, and providing for the issuance tf 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 $ 9,176.10 for the improvement
made in Local Improvement District No. 843 as created and established by Ordinance No.
B -1896 of the -, ordinances of the City of Yakima, which shall be paid in 10 equal install-
ments, the first installment to be paid oh or before the 27th day of June 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
payable on or before the 27th day of June in each year, and shall be colledted 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 - June of each year in which the same shall be pay-
able, as provided in Section 1 hereof, the shall thereupon become and be delinquent
and shall be,ollected as provided by the laws of the State of Washington and the o rdinan-
ces 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 pen-
alty uon both principal and interest due thereon.
Section 3. For the payment of the unpaid of the cost and expense of
said improvement in said Local Improvement District No. 843, there shall be issued bonds
of the District in the sum of $ 9,176.10, said issue to consist of 18 bonds in the de-
nomination of $ 500.00 each and one bond of the denomination of $ 176.10 to be numbered
from one upwards consecutively, and shall bear interest at rate of 4 per cent per
annum, payable annually on the 17th :day of July 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 sustantially in the form
prescribed by Section 18 of Ordinance No. A- 192 amended of the Ordinances of the City
of Yakima, Washington. They shall be issued .under date of July 17, 1957, and approxi-
mately 1 /10th of said bond issue shall be payable" on or before the 17th day of July of
each year thereafter, to and including the 17th day of July, 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 2nd day of July,
19 57 .
ATTEST: J.A. SMITH ( SEAL ) JOE K. ALDERSON
CITY CLERK MAYOR
I hereby certify that the foregoing is a true, full and , : orrect copy of Ordinance
No. B -2050 entitled "AN ORDINANCE fixing the time of delinquency of installments of
assessments 'levied for the payment of the._. of the improvement in Local Improvement
District No. 843, and providing for the issuance of bonds with coupons,attached for the
payment of the unpaid portion thereof. ", as passed on the 2nd day of July, 1957, and
that the same has been published as required by law.
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