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.- <br /> Section 5: A special fund is hereby created to be called Local <br /> Improvement Fund No. 659 , which shall. .onsist in the aggregate of the <br /> §everal amounts assessed, levied and collected on the several lots, tracts <br /> and parcels of land in said local improvement district and the proceeds of <br /> the sale of the bonds in said district for the purpose of defraying the costs <br /> and expenses of such improvement. <br /> Section 6: The costs and expenses of such improvement shall be <br /> defrayed by special assessment, payable in ten (10) equal annual installments, <br /> with interest thereon at the rate of six per cent (67.)per annum, under the <br /> mode of payment by bonds as provided by law and the ordinances of the City of <br /> Everett. Bonds bearing interest at the rate of six per cent (6%) per annum, <br /> payable on or before twelve (12) years from date of issue, shall be issued in <br /> payment of the costs and expenses of such improvement, or the City of Everett <br /> may, at its election, sell said bonds and make payment in cash in the manner <br /> provided by the ordinances of the said City. <br /> CITY OF EVERETT;` WASHINGTON <br /> MAYOR <br /> Attest: <br /> q <br /> il <br /> ,.1,-;ry t/�-j <br /> City C r <br /> Passed: Nov. 1, 1960 <br /> Published: Nov. 2, 1960 <br /> 2. <br />