Ordinance 2806 - Laserfiche WebLink

Beginning at intersection of North Section line of Section 18, Township 29 North, Range 5 East ,,r. TT. with West boundary line of Grand ,venue ; thence South along said West boundary of Grand Avenue 260.98 feet to point of beginning; thence continue on sane course 55 feet ; thence angle right 90 degrees for 205.09 feet, more or less , to point 151.87 feet Easterly from center line of main track of Great Northerh Railway Company; thence Northerly on a line parallel to and a distance 151.87 feet from said center line 55.06 feet, more or less, thence East 199 .16 feet to point of beginning. Section 4: A special fund is hereby created to be called Local Improvement District Fund No. 535 , which shall consist in the aggregate of the several amounts assessed, levied - and collected on the several lots and parcels of lend in the said Local Improvement District, and the proceeds of the sale of bonds of 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 INPA for labor. Section 5: The costs and expenses of such improvement 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 assessment , payable in Five (5) annual installments with interest at the rate of 5 per cent per annum, under the mode of payment by bonds as provided by law end the ordinances of said City. Bonds bearing interest at the rate of 5 5- percent per annur payable on or before SgATenc 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. n'a Tor Attest: City Clerk Passed: February 7 , 1939 . Published: Farut.ry=- , 1939 .