Ordinance 3021 - Laserfiche WebLink

Section 3: There is hereby established an enlarged local improvement district to be called "Local Improvement District No. 563 ," which said enlarged district shall be divided into a direct benefit district and an indirect benefit district, and which said enlarged district shall include all of the property situate in the Northeast Quarter of the Southwest uarter of erection 31 , Township 29 North, Range 5 East W. Y. , less streets and alleys. That the cost of the above mentioned improvement (except the amount assessed against the direct benefit district hereinafter described) shall be borne by the property located in the enlarged district. That the direct benefit district shall include all the following described property, to-'° it: Lots 1 to 18 inclusive , lock 1, College Mill Addition to Everett ; Lots 1 to 36 inclusive , Mock 2, College Hill Addition to Everett; Last 129 feet of Northwest Quarter of Northeast ''uarter of Southwest rQuarter, Section 31, Township 29 North, T enge 5 East W. Y. , less streets; rlso tracts of land 129 feet wide that lie Forth and South and adjacent to 47th Street from College _venue Westerly to an intersection with the 'sliest line of the orthwest Quarter ofN'ortheast quarter of Southwest Quarter, Section 31, Township 29 North, Range 5 East, W. II. , end not already described above as being in the direct benefit district. Th' t said direct benefit district shall be assessed and bear the cost of said improvement equal to a Two inch water pipe installed in the City street directly adjacent to the property in said direct benefit district. Section 4: I special fund is hereby created to be called "Local Improvement District Fund No. 63 ,"which shal consist in the aggregate of the several amounts assessed, levied and collected on the several lots, tracts and parcels of land in said enlarged local improvement district , and the proceeds of the sale of all bonds in said district , for the purpose of defraying the cost and expense of said improvement . Out of said fund shall be paid the bonds, the interest thereon and the entire cost of said improvement . Section 5. That the entire cost of said improve- ment (except the amount assessed against the direct benefit district above described) shall be borne by and assessed against the property liable therefor, and the cost equal to a r'wo inch water pipe installed in the City Street directly adjacent to the property in said direct benefit district to be assessed to abutting property, shall be defrayed by special assessment on the property within said local improvement district as in this ordinance provided , payable in 5 annual installments, with interest thereon at the rate of Four percent ( I+0 per ann , under the mode of payment by bonds as provided by law End the ordinances of said city. ponds bearing interest at the rate of -2-