Ordinance 3278 - Laserfiche WebLink

Section 3: That there is hereby established a local im- provement district to be known as "hocal Improvement District No. 609 ", which district shall include the following described property located in Everett, Snohomish County, vvashington, to-wit; Lots 1 - 23, inc. Block 130 Grandview Addition to Everett tr 24 - 53 " " 136 tr a 7 u tr 1 - 17 " " 137 n sr n tr 1 - 10 " " 168 " 11 - 17 " " 168 Ready Land Cots. 2nd Add. to Everett " 25 - 34 " " 169 Grandview Addition to Everett tr 1 - 8 sr " 175 Ready Land Cols . 2nd Add. to Everett 9 - 15 " " 175 Bailey Addition to Everett Section 4 A special fund is hereby created to be calle. "Local Improvement Fund No. 609 ", which shall consist in the aggregate of the several amounts assessed, levied, and collected 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 improvement. Section 5: The costs and expenses of such improvement shall be defrayed by special assessment payable in ten (10) equal annual installments, with interest thereon at the rate of four (4%) per cent per annum, under the mode of payment by bonds as provided by law and the Ordinances of the City of hverett. Bonds bearing interest at the rate of four (40) per cent per annum, payable on or before twelve (12) years from date of issue, shall be issued in payment of the costs and expenses of such improvement, or the City of Lverett may, at its election, sell said bonds and make payment in cash or in the manner provided by the Ordinances of said City. Mayor Attest: i-467� ity lerfr. Passed: March 7th, 1950. Published: to 1950.