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•' <br /> • <br /> district and the proceeds of the sale of the bonds in said district <br /> for the purpose of defraying the costs and expenses of such improve- <br /> ment. Out of said fund shall be paid the bonds , the interest thereon <br /> 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 percent <br /> per annum, under the mode of payment by bonds as provided by law and <br /> the ordinances of the City of Everett. Bonds bearing interest at the <br /> rate of four percent per annum payable on or before seven (7) years <br /> from date of issue , shall be issued in payment of the costs and expen- <br /> ses of such improvement, or the city of Everett may, at its election, <br /> sell said bonds and make payment in cash in the manner provided by <br /> the ordinances of said City. <br /> Mayor <br /> Attest: <br /> City <<Clerk <br /> Passed: November 29th, 1950. <br /> Published:November -30 ,1950. <br /> it <br /> is <br /> �s <br />