Ordinance 2985 - Laserfiche WebLink

' 4 •'• f . , r . .i 1. , beginning at the manhole 0 + 00, thence continue along East Grand Avenue to _.ayes Street ; thence Easterly along Hayes Street to the Great Nor the rn Railway right of way; thence continue Easterly across the railway tracks to Snohomish River, the end , knoval a s ;station 16 + 63.5 shall be borne by and assessed a ga ins t tiE property in the e n- la rged district , less Federal lousing Administrati on property as shown above. Section 5 : That a special fund is hereby created to be called "Local Sn ovement District Fund No.&. S'S " , which shall consist in the aggregate of the several lote, tracts and parcels of lE nd in said enla rged local improvement district, End 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 ponds, the interest thereon and the entire cost of said irnproverEnt , except the amount paid by the Federal housing Administration. Section 6: That tit cost and expense of such improvement shell be defrayed only in the mEnner set forth in this ordinance. The cost of such impr overEnt to be borne by the property in said enlarged district shall be defrayed by special assessment, pa ys ole in lC annual installments with interest at the rate of ir percent per annum, under t he mod e of p a yme nt by bond s as provided by law a nd t he ordinances of said City . Bonds bearing interest et the rate of jrpercent per annum, payab_, e on or before Zoe-, years from date of issue , tall be issued in payment of the cost a nd expense of such iraprover_ent assessed against the property in said district , or the City of Everett may, a t its el ecti on, sell the bo nd s and make p ayrE nt in cash in the manner provided by the or_ dint % of said City. 1 4100 1IP IA` Attest: `- - s day or City Clerk Passed: , /7- l 9'4//`3 Published: .il 'o - / 9