Ordinance 2830 - Laserfiche WebLink

.. y • . Section 3: t1ackxx There is hereby established a local improvement district to be called Local Improvement District No. 5l2 , which district shall include the following described property, located in Everett, Snohomish County, Washington, to-wit : That portion of Block 1, Friday's Second Addition to ' verett , lying between the South line of 35th Street and a line 205 feet from and parallel to the South line of 35th Street; That portion of Block 2, Friday's Second Addition to Everett , lying between the South line of 35th Street and a line 205 feet from and parallel to the South line of 35th Street Lots 1 to 8 inclusive, Block 3, Friday's First Addition to Everett; Lots 25 to 32 inclusive , Block 4, Friday's First Addition to Everett ; Lots 9 to 24 inclusive, Block 825, Plat of Everett , Division "H" ; Lots 9 to 24 inclusive, block 826, Plat of Everett , Division "H" Section 4: A special fund is hereby created to becalled Local Improvement District Fund No. 50 , which shell 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 5 : The costs and expenses of such improve- ment shall be defrayed only in the manner set forth in this ordinance. The cost 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 interest at the rate of r 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 5 percent per annum, payable on or before 7 years from date of issue shall be issued in payment of the 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. Attest: PTayor • ti'i__r_1-67 .r,,. Passed:,_entember 5, 1939 Published: September 6, 1939