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Section 3 : That there is hereby established a local <br /> / improvement district to be known as "Local Improvement District <br /> No. 1J " , which district shall include the following des- <br /> cribed property located in Everett, Snohomish County, Washington: <br /> Lots 17 to 32, inc. , Bik. 1, Norman Addition <br /> to Everett <br /> Lots 12 to 16, inc . , Bik. 2, Norman Addition <br /> to Everett <br /> Section 4: A special fund is hereby created to be <br /> called Local Improvement Fund No. 646 , which shall consist <br /> in the aggregate of the several amounts assessed, levied and <br /> collected on the several lots, tracts and parcels of land in said <br /> local improvement district and the proceeds of the sale of the <br /> bonds in said district for the purpose of defraying the costs and <br /> expenses 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 per cent (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 (4%) per <br /> annum, payable on or before twelve (12) years from date of issue, <br /> shall be issued in payment of the costs and expenses of such <br /> improvement, or the City of Everett may, at its election, sell <br /> said bonds and make payment in cash in the manner provided by <br /> the ordinances of the said City. <br /> l' 5117 <br /> M A Y O R <br /> Attest: // <br /> 4>/ <br /> Ci 'r <br /> Passed: Oct. 1.6 1.956 <br /> ' ., Y <br /> Published:Oct. 17, 1956 <br />