Ordinance 3086 - Laserfiche WebLink

.. r Section 4: that there is hereby established a Local Improvement Lis,trict to be known as"Local Improvement District No. 573 , which district shall include the following des- cribed property, to-wit : Lot 1, _block 24, Replat of South Park Addition to Everett , less right of way for State Highway, No . 1 Lots 13, 14, lb, 16 , 17 , 18, 19, 20 , 21, 22, 23 and 24, 3lock 1 , Central Park Addition to Lverett , less right of way for State Highway No. 1 . Section 5: r. special funds is hereby created to be called "Local Improvement District Fund No. 573 ," 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 cost and expense of such improvement . Out of said funds shall be paid the bonds, the ingest thereon and the entire cost of such improvement. Section 6 : The costs and expenses of such improvement shall be defrayed by special assess- ent, payable in Ten (10 ) equal annual installments, with interest thereon at the rate of Four percent (4 ) per annum unc er the mode of payment by bonds as provided by law and the ordinances of said City. ponds bearing interest at the rate of 4 percent per annum, payable on or before 12 years from date of issue , shall be issued in payment of the costs and expenses of such irpr•ovement, or the City of Everett may, at its election, sell said bonds and make pay- ment in cash in the manner provided by the ordinances of said City. Na yor Attest: City Clerk Passed: July 23rd , 1946 . Published: July 25th , 1946 .