Ordinance 3920 - Laserfiche WebLink

Begin at the northeast corner of Lot 37A, Maple Heights; thence southwesterly along the north line of Maple Heights to the west line of Lot 31, Maple Heights; thence southerly along the west line of said Lot 31 and the west line of Lots 29 and 30, Maple Heights, to an intersection with a line 200 feet north of and parallel to the north marginal line of Mukilteo Boulevard; thence north- easterly along said line 200 feet north of and parallel to the north line of Mukilteo Boulevard to an intersection with the south marginal line of Madrona Avenue at a point on the north line of Lot 21, Maple Heights; thence northeasterly along said south marginal line of Madrona Avenue to an intersection with the east line of Maple Heights; thence northerly along the east line of Maple Heights and the east line of Lot 37A, Maple Heights to the northeast corner thereof and the point of beginning. Section 4: A special fund is hereby created to be called Local Improvement District Fund No. 670 which shall consist in the aggregate of the several amounts assessed, levied and collected on the several lots, tracts and parcels of land in said local improvement district and the sale of the bonds in said district for the purpose of defraying the costs and expenses in such improvement, except as otherwise provided. Out of said fund shall be paid the bonds and interest thereon and the entire cost of such improvement, except as otherwise provided. Section 5: The cost and expense of such improvement, except as paid by the City of Everett, shall be defrayed by special assessments payable in ten (10) equal annual installments with interest thereon at the rate of six (6%) percent per annum under the mode of payment by bonds as provided by law and the ordinances of the City of Everett. Bonds bearing interest at the rate of six (6%) percent per annum payable on or before twelve (12) years from date of issue shall be issued in payment of the cost and expense of such improvement or the City of Everett may, at its election, sell said bonds and make payment in cash in the manner provided by the ordinances of said City. M YOR Attest: ty Clerk Passed: Oct. 30, 1962. Published: i° 31, 1962.