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. <br /> 3 <br /> district for the purpose of defraying the costs and expenses of such <br /> improvement. Out of said fund shall be paid the bonds, interest <br /> thereon and the entire cost of such improvement. <br /> Section 5: The costs and expenses of such improvement <br /> shall be defrayed by special assessment, payable in five (5) equal <br /> ' annual installments, with interest thereon at the rate of four per <br /> cent (4%) per annum, under the mode of payment by bonds as provided <br /> by law and the ordinances of the City of Everett, Bonds bearing <br /> interest at the rate of four percent per annum payable on or before <br /> seven (7) years from date of issue, shall be issued in payment of <br /> 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 <br /> the manner provided by the ordinances of said City. <br /> wilzee,4-(4-vt,6-ielp="e • <br /> r <br /> -- Mayor <br /> R <br /> Y Attest: <br /> I City Clergy/ <br /> Passed: Sept. 28, 1954 <br /> E Published: ept.`29, 1954 <br /> • <br /> S t <br /> (Y{ <br /> 1 `I s <br /> �� 1 <br />