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,. <br /> said district for the purpose of defraying the costs and expenses <br /> of such improvement. Out of said fund shall be paid the bonds, <br /> the interest thereon, and the entire cost of such improvement. <br /> section o: 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 <br /> (40) per cent per annum, under the mode of payment by bonds as <br /> provided by law and the ordinances of the City of Everett . Bonds <br /> bearing interest at the rate of four (4/o) per cent per annum, <br /> payable on or before twelve ( 12) years from date of issue, shall <br /> be issued in payment of the costs and expenses of such improvement <br /> or the City of Everett may, at its election, sell said bonds and <br /> make payments in cash in the manner provided by the ordinances of <br /> said city. <br /> I a y o r <br /> City Clerk <br /> Passed : July 5, 1950. <br /> Published: " 6, 1950. <br />