HomeMy WebLinkAbout1957-B-2072 ORDINANCE NO. B -2072
AN ORDINANCE fixing the time of delinquency of installments of assessments levied for the
payment of the cost of the improvements in Local Improvement District No.
849, and providing for the method of payment of the unpaid portion, thereof,
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of $ 1,334.66 for the improvement
of Local Improvement District No. 849 as created and established by Ordinance No. B -1952
of the Ordinances of the City of Yakima, which shall be paid in 10 equal annual install-
ments, the first installment to be paid on or about the 15th day of August, 1958, with
interest on the whole unpaid sum at the rate of 4% per annum, and each year thereafter
one of such installments, together with interest thereon and on the installments there-
after to become due at the rate of 4% per annum shall be due and payable on or about the
15th day of August 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 onr or before the 15th day of August 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 annum until paid and be subject to a charge of 5% penalty upon both principal and
interest due thereon.
Section 3. The City of Yakima shall issue Local improvement district warr-
ants in the amount of the balance of the cost of said improvement, said warrants to hear
interest at the rate of four per cent (4 %i) from tie date of their issuance, such regist-
ered warrants to be held by the City of Yakima as an investment or to be sold by the City,
and the proceeds thereof shall be used to pay off the said existing warrants heretofore
issued to the contractor, such registered warrants, if issued, shall be redeemed by local
improvement district assessments as the same are paid, and payment endorsed thereon as
said funds are received by the City.
Section 4. The warrants herein provided for shall be claims and liens a-
gainst the local improvement district fund prior and superior to any right, lien or claim
of any surety on any bond or bonds given to the City of Yakima by the contractor to se-
cure the performance of his contract or to secure the payment of persons who have perfor-
med work thereon, furnished materials therefor or provisions and supplies for the carry-
ing on of the work.
PASSED BY THE CITY COMMISSION, signed and approved this 28th day of August,
1957.
kenneth C. Schutt pro tem
ATTEST: J.A. SMITH ( SEA L ) JOE K. ALDERSON
CITY CLERK MAYOR
I hereby certify that the foregoing is a true, full and correct copy of Ordinance
No. B -2072 entitled "AN ORDINANCE fixing the time of delinquency of installments of asse-
ssments levied for the payment of the cost of the improvements in Local Improvement Dis-
trict No. 849, and providing for the method of payment of the unpaid portion, thereof."
as passed on the 28th day of August, 1957, and that the same has been published as re-
quired by law.
C I T Y CL L R K