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ORDINANCE NO. 12)3
AN ORDINANCE of the City of Kent, Wash-
ington amending Section 3 of Ordinance 1802
reducing the interest on assessments in
Local Improvement District 272.
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO
HEREBY ORDAIN AS FOLLOWS:
follows;
Section 1. Section 3 of Ordinance 1802 which reads as
"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 the assessment can be made
at any time within thirty (30) days from the
date of the first publication of said 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
6-1/2% 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 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 thirty -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 of the unpaid balance,
shall be collected. Any installment not paid
prior to the expiration of the thirty -day
period during which such installment is due
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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."
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 the assessment can be made at any
time within thirty (30) days from the date of
the first publication of said notice without
penalty, interest or cost, and that thereafter
the sum remaining unpaid may be paid in ten
equal installments with interest thereon hereby
fixed at the rate of 5-3/4% per annum. The
first installment of assessments on the as-
sessment 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 assess-
ment roll is in her hands for collection and
annually thereafter each succeeding install-
ment shall become due and payable in like
manner. If the whole or any portion of the
assessments remains unpaid after the thirty -
day period, interest upon the whole unpaid
sum shall be charged at the rate of 5-3/40
per annum and each year thereafter one of the
installments, together with interest due on
the whole of the unpaid balance, shall be
collected. Any installment not 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 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
ISABEL HOGAN, MAYOR
ATTEST:
- --MARIE JENISEY, CITY CL RK
�<` tPPROVED AS TO FORM:
1 61�" F,-"
ONALD E. MIRK, CITY ATTORNEY
PASSED the 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.
f
(SEAL)
MARIE JENSEN TY CLERK
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