HomeMy WebLinkAbout1957-B-2060 x 552
ORDINANCE. NO. B -2060
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. 851,
and providing for the issuance of bonds with coupons attached for the pay-
ment of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1.. That there is unpaid the sum of $ 4,859.69 for the improvement
made in Local Improvement District No. 851 as created and established by Ordinance No.
B -1962 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 July, 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 July 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 July 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 City of Yakima, and said delinquent assess-
ments 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. 851, there.shall be issued bonds
of the District in the sum of $ 4,859.69, said issue to consist of 16 bonds in the de-
nomination of $ 300.00 each and one bond of the denomination of $ 59.69 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 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 payalbe at the office of the City Treasurer in the City of Yakima, W%shing- —
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 July 31, 1957, and approximat-
ely 1 /10th of said bond issue shall be payable on or before the 31st day of July of each
year thereafter, to and including the 31st 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 29th day of July,
1957.
ATTEST: J.A. SMITH ( S E A L ) JOE K. ALDERSON
MAYOR
I hereby certify that the foregoing is a true, full and correct copy of Ordinance
No. B -2060 entitled "AN ORDINANCE fixing the time of delinquency of installments of asses-
sments levied for the payment of the cost of the improvement in Local Improvement District
No 851, and providing for the issuance of bonds with coupons attached for the payment of
the unpaid portion thereof." as passed on the 29th day of July, 1957, and that the same "'-
has been published as required by law.
'Y C L E R K
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