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ORDINANCE.NO. B -2114
AN ORDINANCE fixing the time of delinquency of installments of assessments levied for the
payk}ent of the cost of the improvement in Local Improvement District No. 852,
and providing for the issuance of 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 $ 46,700.21 for the improvement
made in Local Improvement District No. 852 as created and established by Ordinance No.
B -1999 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 28th day of December,
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 insta-
llments thereafter to become due at the rate of 4 per cent per annum ahall be due and pay-
able on or before the 28th day of December 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 28th day of December 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 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. 852, there shall be issued bonds
of the District in the sum of $ 46,700.21, said issue to consist of 93 bonds in the de-
nomination of $ 500.00 each and one bond of the denomination of $ 200.21.to be numbered
from one upwards consecutively, and shall bear interest at the rate of 4 per cent per
annum, payable annually on the 4th day of Hanuary each year, the several installments of
interest to be evidenced by coupons attached to said bonds and both principal_.and interest
shall be payable at the office of the City Treasurer in the City of Yakima, Washington..
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 January 4, 1958, and approxi-
mately 1 /10th of said bond issue shall be payable on or before the 4th day of Hanuary of
each year thereafter, to and including the 4th day of January, 1970.
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 January,
1958.
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 -2114 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. 852, 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 January, 1958, and
that the same has been published as required by law.
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T'Y CLERK
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