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ORDINANCE NO. B -2099
AN ORDINANCE fixing the time of delinquency of installments of assessments levied for he
payment of the cost of the improvement in Local Improvement District No. :4$
and providing for the issuance of bonds with coupons attached for the pay ent
of the unpaid portion thereof.
BE IT ORDAINED BY THE CITY OF YAKIMA:
Section 1. That there is unpaid the sum of $ 14,$37.5$ for the improveme t
made in Local Improvement District No. $4$ as created and established by Ordinance No.
B -1947 of the Ordinances of the City of Yakima, which shall he paid in 10 equal annual
installments, the first installment to be paid on or before the 23rd day of November,
1958, with interest on the whole unpaid sum at the rate of 4% per cent per annum, and -acl .
year thereafter one of such installments together with interest thereon and on the in-
,staliments thereafter to become due at the rate of 4% per cent per annum shall be due :nd
payable on or before the 23rd day of November in each year, and shall be collected in he
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 got
paid on or before the 23rd day of November of each year in which the same shall be pay
able, as provided in Section 1 hereof, the same shall thereupon become and be delinque t
and shall be collected as provided by the laws of the State of Washington and the Ordi -
ances of the City of Yakima, and said delinquent assessments shall bear interest at th
rate of 4% per cent per annum until paid and be subject to a charge of 5% per• cent pen-
alty upon both the 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. $4$, there shall be issued bonds
of the District in the sum of v 14,$37.5$, said issue to consist of 29 bonds in the de-
nomination of : 7p.500.00 each and one bond of the denomination of $ 337.5$ to be numbere
from one upwards consecutively, and shall bear interest at the rate of 4% per cent per
annum, payable annually on the 14th day of December each year, the several installments
of interest to be evidenced by coupons attached to said bonds and both principal and..if-
terest shall'be payable at the office of the City Treasurer in the City of Yakima, Wash-
ington.
Section 4. The bonds provided for herein shall be substantially in the f rm
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 December 14, 1957, and approx-
imately 1 /10Eh of said bond issue shall be payable on or before the 14th day of December
of each year thereafter, to and including the 14th 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 Ordinan e
No. B -2099 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. $4$ 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.
i
T'Y, CLERK