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/ • <br /> the aggregate of the several amounts assessed, levied and <br /> collected on the several lots, tracts and parcels of land in <br /> said local improvement district and the proceeds of the sale of <br /> the bonds in said district for the purpose of defraying the <br /> costs and expenses of such improvement. Out of the said fund <br /> shall be paid the bonds, the interest thereon, and the entire <br /> cost of such improvement. <br /> Section 5 : The costs and expenses of such improvement <br /> shall be defrayed by special assessment payable in ten (10) <br /> equal annual installments with interest thereon at the rate of <br /> four percent (4%) per annum, under the mode of payment by bonds <br /> as provided by law and the ordinances of the City of Everett. <br /> Bonds bearing interest at the rate of four percent (1-1- ) per <br /> annum payable on or before twelve (12) years from date of <br /> issue, shall be issued in payment of the costs and expenses of <br /> such improvement, or the City of Everett may, at its election, <br /> sell said bonds and make payment in cash in the manner <br /> provided by the ordinances of said city. <br /> Le- <br /> [_ MAYO <br /> Attest: <br /> - City Cl rk <br /> - <br /> Passed: September 2, 1958 <br /> Published: September 3/ 1958 <br />