HomeMy WebLinkAbout1957-B-2098 001
ORDINANCE NO. B -209$
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. a47,
and providing for the issuance of bonds with coupons,attache.d 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 $ 49,$$$.$5, for the improvement
made in Local Improvement District No. 847 as created and established by Ordinance No.
B -1944 of the Ordinance of the City of Yakima, which shall be paid in 10 equal annual
installments, the first installment to be paid on or before the 16th day of November,
1958, with interest on the whole unpaid sum at the rate of 4% per annum, and each year
thereafter one of such installments together with interest thereon and on the installmets
thereafter to become due at the rate of 4% per cent per annum shall be due and payable
on or before the 16th day of November in each year, and shall be collected in the same
manner as is provided by law and the Ordinances of the said City.
Section 2. If any of the said installments of principal or interest are not
paid on or before the 16th day of November of each year in which the same shall be pay-
able, as provided in Section 1 hereof, the same shall tIereupon become and be delinquent
and shall be collected as provided by the laws of the State of Washington and the Ordin-
ances of the City of Yakima, and said delinquent assessments shall bear interest at the
rate of 4% per cent per annum until paid and be subject to a charge of % per cent pen-
alty upon both principal and interest due thereon.
Section 3. For the payment of the unpaid balance of the cost and expense of
said improvement in said Local Improvement District No. 847, there shall be issued bonds
of the District in the sum of 49, $$$.$5, said issue to consist of 99 bonds in the de-
nomination of $ 500.00 each and one bond of the denomination of $ 3$$.$5,to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 16th day of November each year, the several installments
of interest to be evidenced by coupons attached to said bonds and both principal and in-
11 terest shall be payable at the office of the City Treasurer in the City of Yakima, Wash-
irgon.
Section 4. The bonds provided for herein shall be substantially in the
form prescribed by Section 1$ of Ordinance No A -192 as amended of the Ordinances of the.
City of Yakima; Washington. They shall be issued under date of 7th of December, 1957,
and approximately 1 /10th of said bond issue shall be payable on or before the 7th day of
December of each year thereafter, to and including the 7th day of December, 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 27th day of November
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 -209$ 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. 547, and providing for the issuance of bonds with coupons attached for the
payment of the unpaid portion thereof. ", as passed on the 27th day of November, 1957,
and that the same has been published as required by law.
CLERK
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