Ordinance 3878 - Laserfiche WebLink

by and assessed against the property i1ie within the district . Said credit given by said Water Department is for the existing 2" water pipe and to further allow as a portion of the cost of the improvement, the money attributable to the cost for addition- al water pipe installation outside of said assessment district upon 42nd Street and Maryland Avenue from Federal Street easterly for 350 feet . The costs and expenses of said improvements, after deducting the credit herein provided for, shall then be distribut=d and assessed against all of the property included in said assess- ment district in accordance with the special benefits derived from the improvement without regard to the zone termini method of spreading assessments . The City of Everett shall not be liable in any manner for any portion of the costs and expenses of such improvements except as provided by Chapter 141, Session Laws of 1923, or acts amendatory thereto, and the ordinances of the City of Everett, and except as herein provided. SECTION 4: There is hereby established a local improvement district to be known as Local Improvement District No. (3 6 4 , which District shall include all of the property described in Section 2 above. SECTION 5: A special fund is hereby created to be called Local Improvement District Fund No. E,EI- which shall consist in the aggregate of the several amounts, assessed, levied and collected upon the several lots, tracts, and parcels of land in said local improvement district, and the proceeds of the sale of the bonds in said district for the purpose of defraying the cost and expenses of such improvement. SECTION 6: The costs and expenses of such improvement shall be defrayed by special assessment, payable in 10 equal annual installments with interest thereon at the rate of not more than 6% per annum under the mode of payment by bond as provided by law and the ordinances of the City of Everett. Bonds -3-