Ordinance 2868 - Laserfiche WebLink

.- • Lots 9, 10 , 11, 12, 13 and 14, Dlock 315, Riverdale Addition to Lverett ; South 50 feet of West 'half of Block 315, Riverdale Addition to Everett ; Lots 17 to 24 inclusive , Block 315, Riverdale Addition to Everett; Lots 1 to 8 inclusive, Block 326 Young' s U. P . Addition to Bverett ; Lots 25 to 32 inclusive , Block 326, Young's U. P . Addition to Everett. Section 4: A special fund is hereby created to be called "Local Improvement District fund No. '/ 9 " which shall consist in the aggregate of the several amounts assessed, levied and collected on the several lots and parcels of land in the said local improvement district , and the proceeds of the sale of bonds in said district, for the purpose of defraying the cost and expense of such improvement. Out of said fund shall be paid the bonds and interest thereon, and the cost of materials, fixed estimate and all other expenses in connection with said improvement , except the amount contributed by the Federal Government under WPA. for labor. Section 6: The costs and expenses of such improve- ment shall be defrayed only in the manner set forth in this ordinance . Thecost of such improvement to be borne by the property in said district shall be defrayed by special assess- ment, payable in Five (5) annual installments with irest at the rate of .5 per cent per annum, under the mode of payment by bonds as provided by law and the ordinances of said city. Bonds bearing interest at the rate of per cent per annum, payable on or before '7 years from date of issue shall be issued in payment of he cost and expense of such improvement assessed against the property in said district, or the City of Everett may, at its election, sell the bonds and make payment in cash in the manner provided by the ordinances of said City. Nayor Attest: City Clerk. $ ) ! '/ Pam ! s- a 0