Laserfiche WebLink
4 .qn • <br /> Section 4: A special fund is hereby created to be called <br /> "Local Improvement Lis trict Fund No. 4.17 " which shall consist in <br /> the aggregate of the several amounts assessed, levied and collected <br /> on the several lots, tracts and parcels of land in said local <br /> improvement district and the proceeds of the sale of the bonds in <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 /> except the amount to be paid by funds from the V ashington State <br /> Development Board. <br /> Section 5: The costs and expenses of such improvement to <br /> be assessed against the owners of the property within said district <br /> as set forth in Section 2 of this Ordinance shall be defrayed <br /> by special assessment, payable in ten equal annual installments, <br /> with interest thereon at the rate of four per cent per annum, under <br /> the mode of payment by bonds as provided by law and the ordinances <br /> of the City. of Everett. Bonds bearing interest at the rate of <br /> four per cent per annum, payable on or before twelve years from <br /> date of issue, shall be issued in payment of the costs and expenses <br /> 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 <br /> by the ordinances of said City. <br /> Mayor <br /> Attest: <br /> City Clerk <br /> Passed: May 20, 1947 <br /> Published:, May 21 , 1947 <br />