Ordinance 2787 - Laserfiche WebLink

1 - F Lots 1 to 8, inc. and 25 to 32, inc. , Block 611, Rucker's 1st Addition to Everett . Lots 1 to 8, inb. and 25 to 32, inc. , Block 612, Rucker's 1st Addition to Everett. Lots 1 to 8, inc. and 25 to 32, inc . , Block 613, Rucker's 1st Addition to Everett. Lots 1 to 8, inc. an l 25 to 32, inc. , Block 614, Rucker s 1st Addition to Everett. Lots 1 to 8, inc. and 23 to 30, inc. , Block 615, Plat of Everett. Section 4: A special fund is hereby created to be called"Local Improvement District Fund No. 5 ,3 / which shall consist in the aggregate of the several amounts assessed, levied and collected on the several lots and parcels of land in said improvement district and the proceeds of the sale of bonds in said district for the purpose of defraying cost and expense of such improvement . Out of said fund shall be paid the bonds, interest thereon and the entire cost of said improvement , except the amount contributed by the federal government under PWA. Section 5: The cost and expense of such improvement shall be defrayed in the manner set forth in this ordinance . The cost of said improvement to be borne by the property in said assessment district shall be defrayed by special assessment payable in ten (10 ) annual installments, with interest thereon at the rate of 5 (4' ) % 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 ( ) _ per annum, Payable on or before Twelve (12) years fror date of issue, shall be issued in payment of the cost and expense of suc improvement assessed against the property in said district or the City of Everett may, at its election, sell said bonds and make payment in cash in the manner provided by law and the ordinances of said City. Cam, Mayor ATTEST: City Clerk Passed: 9 - 2 - 3 Published: 9 - zq- 3`1>