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• <br /> • <br /> Section 4: .A special .fund is hereby created to be <br /> called "Local Improvenent Fund No. 552 , " which shall consist in <br /> the aggregate of the several amounts assessed, levied and <br /> collected on the several lots, tracts and parcels of land in <br /> said local improvement district , and the proceeds of the sale of <br /> bonds in said district, for the purpose of defraying the costs <br /> and expenses of such improvement. Out of said fund shall be paid <br /> the bonds, the interest thereon and the entire cost of such <br /> improvement . <br /> Section 5 : The costs and expenses of such improvement <br /> shall be defrayed by special assessment , payable in Five ( 5) <br /> equal annual installments, with interest thereon at the rate of <br /> Five percent (5 ) per annum under the node of payment by bonds <br /> as provided by law and the ordinances of said City . Bonds bearing <br /> interest at the rate of percent per annum, payable on <br /> or before /V- years from. date of issue, shall be issued <br /> in payment of the costs and expenses of such improvement , oi. the <br /> City of Everett may, at its election sell said bonds end make <br /> payment in cash in the manner provided by the ordinances of said <br /> City. <br /> Section 6: Thy t Ordinance No. 2892 of the City of <br /> Everett be , and the same is hereby repealed. <br /> T!1a v01' <br /> Attest: <br /> City Olerk <br /> Passed: <br /> Published: 9- a A-/-- �� <br />