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such improvement. Out of said fund shall be paid the bonds, the <br /> interest 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 ten (10) 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 (4%) per annum, payable on or <br /> before twelve (12) years from date of issue, shall be issued in pay- <br /> ment of the costs and expenses of such improvement, or the City of <br /> Everett may, at its election, sell said bonds and make payments in • <br /> cash in the manner provided by the ordinances of said city. <br /> Section 6: The assessments shall be made against the <br /> property in the district in accordance with special benefits it will <br /> derive from the improvement without regard to the zone and termini <br /> method of spreading assessments as provided for by Rem, Rev. Stat. <br /> 9365-1947 Supplement. <br /> Maycy'r <br /> Attest: <br /> City Clerk <br /> Passed: April 20, 1954 <br /> Published: " 21., 1954 <br /> 1 <br />