Ordinance 4069 - Laserfiche WebLink

City Engineer, which plans and specifications are hereby adopted and approved. Section 2: The City of Everett will, at the cost of t he City and not to the improvement district, do all necessary excavation and also furnish and place gravel base at a cost of $.75 per cubic yard to be charged to the local improvement district all remaining costs and expense of such improvement including all necessary incidental expenses, shall be borne by and assessed against the property included in the assessment d istrict herein created in accordance with the special benefits d erived from the improvement without regard to the zone and termini method of spreading assessments. The City shall not be liable in any manner for any of the remaining costs and expenses of the improvement except as provided by Chapter 141, Session Laws of 1923 or acts amendatory thereto and the ordinances of the City of Everett. Section 3: That there is hereby established a Local Improvement District to be known as "Local Improvement District N o. , which district shall include the following described proper y- located in Everett, Snohomish County, Washington: All of Legion Park Addition to Everett, Div. No. 2, except those portions deeded for Street Right -of -Way. Section 4: That a special fund is hereby created to be known as "Local 'Improvement Fund No. "TC ", which shall consist in "the aggregate of several amounts ireTfaTar, assessed, and col- lected on the several lots, tracts and parcels of land in said Local Improvement District and the proceeds of the sale of bonds in said district for the purpose of defraying the costs and expense of such improvement and the contribution by the City of Everett. Out of said funds shall be paid the bonds, the interest thereon and the entire costs of such improvement. Section 5: The costs and expenses of such improvement shall be defrayed by special assessment payable in ten (10) equal annual installments with interest thereon at the rate of five _per cent (5%) per annum, under the mode of payment by bonds as pro- vided by law and the ordinances of the City of Everett. Bonds bearing interest at the rate of five per cent (5%) per annum payable on or before twelve (12) years from date of issue shall be issued in payment of the costs and expenses of such improve- ment, or the City of . Evere tt may, at its election, sell said bonds and make payment in cash in the manner provided by the ordinances of said city. Attest: Passed: .l / ( 6 IT C'tEflx Published: cre-7 J isca 3 we