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Section 3: There is hereby established a local
<br /> improvement district to be called Local Improvement District
<br /> Ho. 515, which district shall include the following described
<br /> property, to-wit :
<br /> Lots 1 to 15 inc. , Replat of flock 676, Plat of
<br /> Everett, Jiv. "C";
<br /> F. Lots 19, 20 , 22,• 23 and 24 , Replat of Block
<br /> 676, Plat of Everett, Div. "C";
<br /> F. Lots 2, 3, 4, 5 , 6, 7, 8, 9, 10 , and 11 , Block
<br /> 677 , Plat of verett, jiv. "C";
<br /> Lot 1 , P, Lots 2, 3, 4 , Replat of Block 725, Flat
<br /> of '.verett, Div. "H";
<br /> F. Lots 26 and 27, Replat of Block 725, Plat of
<br /> Everett, Jiv. "H" ;
<br /> Also , a tract of land 120 ft. wide that lies Westerly,
<br /> parallel and adjacent to Bond Street from a point
<br /> on said Aesterly line of Bond Street a distance
<br /> of 776.03 feet from the -north and South Monument
<br /> line of Federal Avenue and Hewitt Avenue to
<br /> Hewitt Avenue.
<br /> Section 4: A special fund is hereby created to
<br /> be called Local Improvement District Fund Jo. 515 , which shall
<br /> consist in the aggregate of the several amounts assessed,
<br /> levied and collected on the several lots and parcels of land
<br /> in said local improvement district, the proceeds of the sale
<br /> of bonds of the said district and the moneys allocated from
<br /> the Washington State Motor Vehicle fund and the Federal grant,
<br /> for the purpose of defraying the costs and expenses of such
<br /> improvement. out of said fund shall be paid the bonds,
<br /> interest thereon and the entire cost of such improvement.
<br /> Section 5: The costs and expenses of such
<br /> improvement shall be defrayed from funds allocated to the City
<br /> of Everett from the Washington State Motor Vehicle Pund and by
<br /> Federal grant, and by special assessments not to exceed
<br /> Thirty percent (30%) thereof, plus fixed estimate , payable
<br /> in Ten (10) equal annual installments, with interest thereon
<br /> at the rate of Five percent (55) per annum, under the mode
<br /> of payment by bonds, as provided by law and the ordinances
<br /> of the city. Bonds bearing interest at the rate of Five percent
<br /> (5%) per annum, payable on or before Twelve (12) years from
<br /> date of issue, shall be issued and sold by the city of Everett
<br /> for the purpose of paying the costs and expense of such improve-
<br /> ment to be paid for by assessments on the property within said
<br /> assessment district, and the cost and expense of such improve-
<br /> ment shall be paid for in cash in the manner provided by the
<br /> ordinances of said city.
<br /> Section 6: That ordinance _ e. 2652 of the City of
<br /> Everett be , and the same is hereby repealed.
<br /> Mayor
<br /> Attest:
<br /> City
<br /> C 1 erg
<br /> Passed: July 27 , 1937
<br /> Published:�uly .g , 1937
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