Ordinance 2779 - Laserfiche WebLink

1 -•► wf 'r All property between the .pest margin of Virginia Lvenu- extended and East line of State Street, and for a distance of Tw. Hundred ( 200) feet Torth of the Forth margin of Hewitt Avenue and a distance of to Hundred (200) feet South of South margin o Hewitt Avenue. Said property in said direct benefit district shall bear Fifty-five Percent ( 551 of the entire cost of said improve rent , plus fixed estimate? ( except the cost to be borne by the indirect benefit district ) . Said indirect benefit district shall include all the following described property, to-wit: All property between the 'Jest margin of Virginia Ivenu; and the East line of State Street and between parallel lines Two Hundred (200 ) feet and _ our Hundred (400 ) feet Worth of the North margin of Hewitt Avenue and between parallel lines Two Hundred ( 200) feet and Four Hundred (400 ) feet South of the South Margin of Hewitt :venue; also all that Property between the East margin of Broadway and rest margin of Virginia Avenue extended and for a distance of Four Hundred (400) feet North. of Worth line of Hewitt Avenue end for a distance of Four Hundred (400) feet South of the South margin of Hewitt Avenue. Said property in said indirect benefit district shall bear not to exceed Seventeen Thousand Dollars ( 17 ,000.00) of the entire cost of said improvement. Section 4 : A special fund is hereby created to be called "Local Improvement District fund No. ," which sha 1 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 bond. of said district for the purpose of defraying the cost and expen e of such improvement. Cut of said fund shall be paid the bonds and interest thereon, and the entire cost of said improvement, except the amount contributed by the federal government under PdA. Section 5: The cost and expense of such improvemen shall be defrayed in the manner set forth in tt is ordinance. The cost of said improvement to be borne by the Property in said enlarged district shall be defrayed by special assessment, payable in Ten (10) annual installments, with interest thereon at the rate of Fi v E Per cent per annum, under the mode of payment by bonds as provided by law and the ordinances of said City. Bonds bearing interest et the rate of FIVE per cent per annum, payable on or before Twelve (12) 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 sell the bonds and make payment in cash in the manner provided by law and the ordinances of said City. Mayor Attest: -" -� City Clerk �- Passed: - I ° - 3 Published: g - I - 35l