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ORDINANCE NO. ;2.
AN ORDINANCE of the City of Kent, Wash-
ington, amending Section 3 of Ordinance 1785
reducing the interest on assessments in Local
Improvement District 261.
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO
HEREBY ORDAIN AS FOLLOWS:
follows:
Section 1. Section 3 of Ordinance 1785 which reads as
"The assessment roll as approved and confirmed
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 pay-
ment 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 there-
after the sum remaining unpaid may be paid
in ten (10) equal annual installments with
interest thereon hereby fixed at the rate
of 6-1/4% 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
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 6-1/4%
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 paid prior to the ex-
piration of the thirty (30) day period
during which such installment is due and
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payable shall thereupon become delinquent.
All delinquent installments shall be subject
to a charge for interest of 6-1/4% 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 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 assess-
ment thereon or any portion of that as-
sessment 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 5-3/4%
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 col-
lection and annually thereafter each suc-
ceeding 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 5-3/4% per annum
and each year thereafter one of the install-
ments, together with interest due on the
whole unpaid balance, shall be collected.
Any installment not paid prior to the ex-
piration 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 of 5-3/4% 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 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.
f,
z2' 7
ISABEL HOGAN, MAYO
ATTEST:
SEN,,,' 7TY CLE
APROVED AS TO FORM:
DO LD E. MIRK, CITY ATTORNEY
PASSED thea day of January, 1973.
APPROVED the �- day of January, 1973.
PUBLISHED the �day of January, 1973.
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
hereon indicated.
(SEAL)
MARIE JENSE , TY CLERK
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