Ordinance 2823 - Laserfiche WebLink

% Section 3: There is hereby established a Local Improvement District to be called "Local improvement District No. 5 ,3 " which district shall include the following describe property, located in Lverett, Snohomish County, Washington, to-wit: Lots 1 to 16 inclusive, Block 825, Plat of Everett Division "H" ; Lots 17 to 25 inclusive, Block 826, Plat of Everett, Division "H" ; Lots 26 , Block 826, Plat of Everett, Division "H" , less the Vest 6 feet thereof; Lots 27 to 32 inclusive , Block 826, Plat of Everett , Division "H" . Section 4: A special fund is hereby create to be called "Local Improvement DistriEt Fund =To. 3 9 , " which shall consist in the aggregate of the several amounts assessed, levied and collected on the several lots and parcels of land in said Local Improvement District, and the proceeds of the sale of bonds in maid district, for the purpose of defraying the cost and expense of suca improvement . Out of said funds 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 contribute, by the Federal Government under VPA.for labor. Section 5: The costs and expenses of such improve- •ment shall be defrayed only in the manner set forth in this ordin. nc The cost of such improvement to be borne b- the property in said district shall be defrayed by special assessment , payable in Five ( 5) amnual installments with interest at the rate of Fi v c percent per annum, under the -...ode of payment by bones es provided by law and the ordinances of said city. Bonds bearing interest at the rate of f/YE per cent per annum, pay- able on or before 5EvS,v ^ years from date of issue shall be issued in payment of costs and expenses tinalimax of such improve- ment 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. Mayor Attest: City Clerk Passed: :Tilly 12, 1939 Published: my 15, 1939 .