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<br /> amendatory thereto and the ordinances of the City of Everett.
<br /> Section 3 : That the limits of the assessment against
<br /> the property included in this improvement shall not exceed two
<br /> { times the assessed valuation, all in accordance with the petition.
<br /> Section 4: That there is hereby established a local
<br /> improvement district to be known as "Local Improvement District
<br /> No. 5°3 ," which district shall include the following described
<br /> property located in Everett, Snohomish County, Washington, to-wit :
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<br /> Lots 17, 1$ and 19, Blk. 219, Bailey Add. to Everett .
<br /> Lots 14, 15 and 16, Blk. 220, Bailey Add. to Everett and
<br /> !` the following unplatted property:
<br /> j' Begin at the southeast corner of Lot 19, Blk. 219, Bailey
<br /> Addition to Everett, thence southerly along the west
<br /> 1 property line of Oakes Avenue for a distance of 416.39 feet ,
<br /> thence angle left 90° for 10 feet , thence angle right 90°
<br /> I! for 255.34 feet to the north line of the SW : of the SW of the
<br /> NW* of Section 17, Township 29 North, Range 5 E.W.M. , thence
<br /> westerly along the said north line of the SW* of the SW* of
<br /> the NWO' of Section 17 for 130 feet , thence northerly and
<br /> parallel to the west property line of Oakes Avenue 722.26
<br /> Is feet to the southwest corner of Lot 19, Blk. 219, Bailey
<br /> ii Addition to Everett , thence easterly along the south line
<br /> of said Lot 19 for 120 feet to the point of beginning, and
<br /> (2) Begin at the southwest corner of Lot 14, Blk. 220 , Bailey
<br /> Addition to Everett , thence southerly along the east property
<br /> line of Oakes Avenue for 416.65 feet, thence angle right
<br /> i 90° for 10 feet, thence angle left 90° for 254.92 feet to
<br /> he north line of the SW of the SW* of the NW* of Section 17,
<br /> Township 29 North , Range 5 E.W.Q . , thence easterly along
<br /> 1 said north line of the SW* of the SW* of the NWT of Section
<br /> fi 17 for 130 feet, thence northerly and parallel to the east
<br /> 11 property line of Oakes Avenue 671.04 feet to the southeast
<br /> li corner of Lot 14, Blk. 220, Bailey Addition to Everett , thence
<br /> i westerly along the south line of said Lot 14 for 120 feet to
<br /> the point of beginning.
<br /> Section 5: A special fund is hereby created to be
<br /> called "Local Improvement District Fund No. 5ql ," which shall
<br /> ,.1 consist in the aggregate of the several amounts assessed, levied
<br /> ' and collected on the several lots, tracts and parcels of land in said
<br /> local improvement district and the proceeds of the sale of the
<br /> i bonds in said district for the purpose of defraying the cost and
<br /> 1 expenses of such improvement . Out of said fund shall be paid the
<br /> 1bonds , the interest thereon and the entire cost of such improvement,
<br /> except the amount to be paid by funds from the Washington State
<br /> Development Board.
<br /> Section 6: The costs and expenses of such improvement
<br /> to be assessed against the owners of the property within said
<br /> district as set forth in Section 2 of this ordinance shall be de-
<br /> r frayed by special assessment , payable in ten enual annual install-
<br /> ments, with interest thereon at the rate of four (4%) per cent per
<br /> 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
<br /> the rate of four (4%) per cent per annum, payable on or before twelve
<br /> I years from date of issue , shall be issued in payment of the costs
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