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115 P--,
ORDINANCE N0.
A141—
AN ORDINANCE of the City of Kent, Wash-
ington, amending Section 3 of Ordinance No.
1732 reducing the amount of interest rate on
the assessments for Local Improvement District
No. 264.
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO
ORDAIN AS FOLLOWS:
Section 1. Section 3 of Ordinance No. 1732 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 there-
on hereby fixed at the rate of 7-1/2% per
annum. The first installment of assessments
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 there-
after each succeeding installment shall be-
come due and payable in like manner. If
the whole or any portion of the assessments
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, 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 installment is due and
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payable shall thereupon become delinquent.
All delinquent installments shall be sub-
ject to a charge for interest at 7-1/2%
per annum and for an additional charge of 60
penalty levied upon both principal and inter-
est due upon such installment or installments.
The collection of such delinquent install-
ments will be enforced in the manner pro-
vided 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 dir-
ected 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 succeeding
the date one year after the date of first pub-
lication by the City Treasurer of notice that
the assessment roll is in her hands for col-
lection and annually thereafter each succeed-
ing installment shall become due and payable
in like manner. If the whole or any portion
of the assessments remains unpaid after the
first thirty (30) day period, interest upon
the whole unpaid sum shall be charged at the
rate of 6-1/2% 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 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 6-1/2% per annum
and for an additional charge of 6% penalty
levied upon both principal and interest due
upon such installment or installments. The
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
force five (5) days from and after its passage, approval and pub-
lication as provided by law.
ISABEL HOGAN,�MAYOR
ATTEST:
MARIE JENS City Olerk
APPROVED AS TO FORM:� �j . E� `
]DONALD E. MIRK, City Attorney
PASSED the day of November, 1971.
APPROVED the day of November, 1971.
PUBLISHED the I_ day of November, 1971.
Ih(�ereby certify that this is a true copy of Ordinance
No. 11z
, 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 JENS City C erk
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