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CITY OF KENT, WASHINGTON
ORDINANCE NO.
AN ORDINANCE of the City of Kent, Wash-
ington, amending Section 3 of Ordinance No.
1734 reducing the amount of interest rate on
the assessments for Local Improvement District
No. 269.
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO
ORDAIN AS FOLLOWS:
Section 1. Section 3 of Ordinance No. 1734 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 with-
out penalty, interest or cost, and that there-
after the sum remaining unpaid may be paid in
ten (10) equal annual installments with int-
erest thereon hereby fixed at the rate of
7-1/2 % per annum. The first installment of
assessments on the assessment roll shall be-
come 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 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 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 expira-
tion of the thirty (30) day period during
which such installment is due and payable shall
thereupon become delinquent. All delinquent
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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 collection
of such delinquent installments will be en-
forced in the manner provided by law."
Ls 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 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 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, int-
erest 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 un-
paid balance, shall be collected. Any in-
stallment 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 col-
lection of such delinquent installments
will be enforced in the manner provided
by law."
Section 2. This Ordinance shall take effect and be in
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force five (5) days from and after its passage, approval and pub-
lication as provided by law.
x -'Z)
ISABEL HOGAN, MAYO,.
ATTEST:
MARIE JENSEN, i.ty C k
,'APPROVED AS TO FORM:
ON��c
EMIRK, City Attorney
PASSED the day of November, 1971.
APPROVED the day of November, 1971.
PUBLISHED the day 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 City Clerk
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