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D ORDINANCE N0.
_L141—
AN ORDINANCE of the City of Kent, Wash-
ington, amending Section 3 of Ordinance No.
1730 reducing the amount of interest rate on
the assessments for Local Improvement District
No. 259.
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO
ORDAIN AS FOLLOWS:
Section 1. Section 3 of Ordinance No. 1730 which reads
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 her
hands for collection and payment of any
assessment thereon or any portion of that
assessment can be made at any time within
thirty (30) 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
(10) equal annual installments with interest
thereon hereby fixed at the rate of 7-1/2%
per annum. The first installment of assess-
ments on the assessment roll shall become
due and payable during the thirty (30) 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 her hands for collection and
annually thereafter each succeeding in-
stallment shall become due and payable in
like manner. If the whole or any portion
of the assessment remains unpaid after the
first thirty (30) day period, interest upon
the whole unpaid sum shall be charged at
the rate of 7-1/2% per annum and each year
thereafter one of the installments, to-
gether with interest due on the whole un-
paid balance, shall be collected. Any
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installment not paid prior to the expiration
of the thirty (30) 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 7-1/2% per annum and for an
additional charge of 6% penalty levied upon
both principal and interest due upon such
installment or installments. The collec-
tion of such delinquent installments will
be enforced in the manner provided by law."
is hereby amended to read 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 her hands
for collection and payment of any assessment
thereon or any portion of that assessment
can be made at any time within thirty (30)
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 (10) equal annual
installments with interest thereon hereby
fixed at the rate of 6-1/2% per annum. The
first installment of assessments on the as-
sessment roll shall become due and payable
during the thirty (30) 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 her
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 assessment remains unpaid
after the first thirty (30) day period, inter-
est upon the whole unpaid sum shall be charged
at the rate of 6-1/2% 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 paid
prior to the expiration of the thirty (30)
day period during which such installment is
due and payable shall thereupon become de-
linquent. All delinquent installments shall
be subject to a charge for interest at 6-1/2%
per annum and for an additional charge of 6%
penalty levied upon both principal and inter-
est due upon such installment or installments.
The collection of such delinquent installments
will be enforced in the manner provided by law.
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Section 2. This Ordinance shall take effect and be in
Eorce five (5) days from and after its passage, approval and pub-
lication as provided by law.
ISABEL HOGAN, M OR
ATTEST:
MARIE JENSEN, ty Cler
IROVED AS TO FORM:
..
DONALD E. MIRK, City Attorney
PASSED the / �5 day of November, 1971.
(APPROVED the f day of November, 1971.
IPUBLISHED THE -4day of November, 1971.
I hereby certify that this is a true copy of Ordinance
No.�, passed by the City Council of the City of Kent,
Washington, and approved by the Mayor of the City of Kent as here-
on indicated.
(SEAL)
MARIE JEN E , City C erk
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