HomeMy WebLinkAbout1991ORDINANCE NO. 1 C11
AN ORDINANCE of the City of Kent,
Washington, amending Section 3 of Ordinance
1981 relating to the interest rate on assess-
ments under Local Improvement District No.
278.
THE CITY COUNCIL OF THE CITY OF KENT, WASHINGTON, DO
HEREBY ORDAIN AS FOLLOWS:
follows:
Section 1. Section 3 of Ordinance 1981 which reads as
"Section 3. The assessment roll as approved and confirm-
ed shall be filed with the Supervisor of Treasury Ac-
counting of the City of Kent for collection, and the
Supervisor of Treasury Accounting 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 1/4% 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 (1) year after the date of the
first publication by the Supervisor of Treasury Account-
ing 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 1/4% 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 expiration of the thirty (30) day pe-
riod during which sum installment is due and payable
shall thereupon become delinquent. All delinquent in-
stallments shall be subject to a charge for interest of
7 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 man-
ner provided by law.
is hereby amended to read as follows:
"Section 3. The assessment roll as approved and confirm-
ed shall be filed with the Supervisor of Treasury Ac-
counting of the City of Kent for collection, and the
Supervisor of Treasury Accounting 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 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 (1) year after the date of the
first publication by the Supervisor of Treasury Account-
ing 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 3/4% 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 expiration of the thirty (30) day pe-
riod during which sum installment is due and payable
shall thereupon become delinquent. All delinquent in-
stallments shall be subject to a charge for interest of
6 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 man-
ner provided by law.
Section 2. This Ordinance shall take effect and be in
force five (5) days from and after its passage, approval and
publication as provided by law.
f. e /
ISABEL HOGAN, MAYOR
ATTEST:
RIE JEN W, CITY tLERK
APROVED AS TO FORM:
DONALD E. MIRK, CITY ATTORNEY
PASSED the day of October, 1976.
APPROVED the 15 day of October, 1976.
PUBLISHED the F day of October, 1976.
I hereby certify that this is a true copy of Ordinance
No. ' 9 / , 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)
MAR ENSEN, ITY CLERK