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f <br />Section 2: That the cost and expenses of such improve- <br />ment, including ail necessary incidental expenses, shall be borne <br />by and assessed against the property included in the assessment <br />district herein created in accordance with the zone and termini <br />method of spreading assessments* The City of Everett shall not <br />be liable in any manner for any of the costs and expenses of such <br />improvement except as provided by Chapter 141, Session Laws of <br />1923, or acts amendatory thereto, and the ordinances of the City <br />of Everett. <br />Section 3: That there is hereby established a Local <br />Improvement District No. 669 , which district shall include <br />the following described property located in Everett, Snohomish <br />County, Washington, to -wit: <br />Lots 1 to 51 inclusive, Block 9, central Park <br />Addition to Everett; <br />Lots 4 and 5, lying West of the alley, Lots 6 <br />to 30 inclusive and the vacated alley in Block <br />10, central Park Addition to Everett <br />• <br />Section 4: A special fund is hereby created to be called <br />Local Improvement District Fund No. 669 which shall consist in <br />the aggregate of the several amounts assessed, levied and collected <br />on the several lots, tracts and parcels of land in said local <br />improvement district and the sale of the bonds in said district <br />for the purpose of defraying the costs and expenses in such <br />improvement. Out of said fund shall be paid the bonds and interest <br />thereon and the entire cost of such improvement, except as other <br />wise provided. <br />Section 5: The cost and expenses of such improvement, <br />'shall be defrayed by special assessments payable in ten (10) <br />equal annual installments with interest thereon at the rate of <br />six (6%) percent per annum under the mode of payment by bonds as <br />provided by law and the ordinances of the City of Everett. Bonds <br />bearing interest at the rate of six (6%) percent per annum payable <br />on or before twelve (12) years from date of issue shall be issued <br />in . payment of the cost and expense of such improvement or the <br />City of Everett may, at its election, sell said bonds and make <br />payment in cash in the manner provided by the ordinances of said <br />City �, <br />s <br />ity Clerk <br />Passed: Oct. 30, 1962. <br />Published: Oct. 31, 1962. <br />MAYOR <br />