Laserfiche WebLink
P <br /> • <br /> • - <br /> Section 5: That a special fund is hereby created to <br /> be called Local Improvement District 2und 1co. SSs , which <br /> shall consist in the aggregate of the several amounts assessed, <br /> levied e.nd collected on the several lots , tracts and parcels of <br /> • <br /> • land in said enlarged local improvement district , and the proceeds <br /> of the sale of all bonds in said district for the purpose of <br /> defraying the cost and expense of said impr overlent. Out of said <br /> fund shall be paid the bonds , the interest thereon and the entire <br /> cost of said improvement , except the amount paid by the Federal <br /> Housing i'idministration. <br /> ;- ection 6: That the cost end expense of such improve- <br /> ment shell be defrayed only in the manner set forth in this ordin- <br /> ance . The cost of such it.pro vane nt to be borne by the property in <br /> said district shall be defrayed by special assessment , payable in <br /> Ten (10) annual installments with interest at the rate of („ _ <br /> per cent per annum, under the mode of payment by bonds as provided <br /> by law and the ordinances of said Cit y. Bonds bearing interest a t <br /> the rate of Der cent per annum, payable on or before <br /> / years from date of issue, shall be issued in payment <br /> of the cost and expense of such improvement a ssessed against the <br /> property in said district, or the City of _;verett may, at its <br /> election, sell the bonds end r aka payment in cash in the manner <br /> provided in the ordinances of said City. <br /> -ayor <br /> Attest: <br /> City Clerk <br /> Passed: q /' 2-/,7/ <br /> ub1ished: 2/ -i47// <br />