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HomeMy WebLinkAbout17121 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 M i ORDINANCJ NO. 1117. A14 ORDINANCE of the City of Kent, Wash- ington, amending Section 3 of Ordinance No. 1663 and providing a nese interest rate on annual assessment installments and delinquent charges. THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO MAIN AS FOLLOWS: Section 1. Section 3. of Ordinance No. 1663, which ads as follows: "The assessment roll as approved and con- firmed shall be filed with the Treasurer of the City of Kent for collection, and the City Treasurer is hereby authorized and directed to publish notice as required by law stating that the roll is in his hands for collection and payment of any assessment thereon or any portion of that assessment can be made at any time within thirty days from the date of the first publication of the notice without penalty, interest or cost, and that thereafter the sum remaining unpaid may be paid in ten equal annual installments with interest thereon hereby fixed at the rate of 8% per annum. The first installment of assessments on the assessment roll shall become due and payable during the thirty -day period succeed- ing the date one year after the date of first publication by the City Treasurer of notice that the assessment roll is in his hands for collection and annually thereafter each succeeding installment shall become due and payable in like manner. If the whole or any portion of the assessments remains unpaid after the first thirty -day period, interest upon the whole unpaid sum shall be charged at the rate of 8% per annum and each year there- after one of the installments, together with interest due on the whole unpaid balance, shall be collected. Any installment not so paid prior to the expiration of the thirty -day period during which such installment is due and payable shall thereupon become delinquent. All delin- quent installments shall be subject to a charge for interest at 8% per annum and for an additional charge of 6% penalty levied upon both principal and interest due upon such installment or install- ments. The collection of such delinquent install- ments will be enforced in the manner provided by law." 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 is hereby amended to read as follows: Section 3. The assessment roll as approved and confirmed shall be .filed with the Treas- urer of the City of Kent for collection, and the City Treasurer is hereby authorized and directed to publish notice as required by law stating that the roll is in his hands for collection and payment of any assessment there- on or any portion of that assessment can be made at any time within thirty days from the date of the first publication of the notice without penalty, interest or cost, and that thereafter the sum remaining unpaid may be paid in ten equal annual installments with interest thereon hereby fixed at the rate of 7 1/4% per annum. The first installment of assessments on the assessment roll shall become due and payable during the thirty - day period succeeding the date one year after the date of first publication by the City Treasurer of notice that the assessment roll is in his hands for collection and annually thereafter each succeeding installment shall become due and payable in like manner. If the whole or any portion of the assessments remains unpaid after the first thirty -day period, interest upon the whole unpaid sum shall be charged at the rate of 7 1/4% per annum and each year thereafter one of the installments,together with interest due on the whole unpaid balance, shall be collected. Any installment not so paid prior to the expiration of the thirty -day period during which such installment is due and payable shall thereupon become delinquent. All delinquent installments shall be subject to a charge for interest at 7 1/4% per annum and for an additional charge of 6% penalty levied upon both principal and interest due upon such installment or installments. The collection of such delinquent installments will be endorced in the manner provided by law. Section 2. This Ordinance shall take effect and be in force five (5) days from and after its passage, approval and publication as provided by law. ISABEL HOGAN, WzOR TTE ST: MARIE JENSEN,L ity Clerk -2- 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24- 25 26 27 28 29 30 PROVED AS TO FORM: "" F. vl,!J ALD E. MIRK, City Attorney assed the day of March, 1971. pproved the /(* day of March, 1971. ublished the day of March, 1971. I hereby certify that this is a true and correct opy of Ordinance No. 0%1;11- , passed by the City Council f the City of Kent, Washington, and approved by the Mayor of the ity of Kent as hereon indicated. -3- �z-� (SEAL) MARIE J EN, City Clerk