Ordinance 3282 - Laserfiche WebLink

0 Section 4: That there is hereby established a local improvement district to be known as "Local Improvement bistrict No. 610 ", which district shall include the following describe+ property, located in Lverett, Snohomish County, washington, to-wii : Lots 1 to 36, inc. , Block 2, Plat of College Hill Addition to : verett, Washington. Section 5: A special fund is hereby created to be called "Local Improvement . una No. 610 ", which shall consist in the aggregate of the several amounts assessed, levied and col- lected on the several lots, tracts, and parcels of land in said local improvement district and the proceeds of the sale of the bonds in said district for the purpose of defraying the costs and expenses of such improvement. Out of said fund shall be paid the bonds, the interest thereon, and the entire cost of such improve- ment. Section 6: The costs and expenses of such improvement shall be defrayed by special assessment, payable in ten equal an- nual installments, with interest thereon at the rate of four per cent per annum, under the mode of payment by bonds as provided by law and the ordinances of the City of Everett. Bonds bearing in- terest at the rate of four per cent per annum payable on or befor twelve years from date of issue, shall be issued in payment of th costs and e4p eases of such improvement, or the City of Lverett may, at its election, sell said bonds and make payment in cash in the manner provided by the ordinances of said City. N a y o r ATTEST: /r AW City Cler �. Passed: LL`=Tay 3, 1950. Published: by 4, 1950.