Ordinance 2716 - Laserfiche WebLink

y . . , I portion of the cost and expense of such improvement , except as provided in Chapter 141 , Session Laws of 1923, .or acts amendatory thereto , and the ordinances of the City of Everett . Section 3: There is hereby established a local improvement district to be called "Local improvement District No. S- x 1. , " which district shall include the following des- cribed property: Lots 1 to 10 inclusive, Block 1 , Headlee ' s First Addition to :: verett Lots 23 to 32 inclusive, Block 2, Headlee ' s First Addition to Everett Lots 1 to 6 inclusive , Block 3, Terrace Addition to everett Lot 4, Block 4 , Terrace Addition to _ verett Northeast Portion of Lot 4 , Block 7, described as follows: Beginning at northeast corner of Lot 4 , Block 7, thence South along the East margin of Lot 4 , 67. 62 feet; thence West 83 feet; thence north 82. 5 feet; thence Easterly along .Jorth margin of Lot 4 to point of beginning. Section 4: A special fund is hereby created to be called "Local improvement District Fund No. " which shall consist in the aggregate of the several amounts assessed, levied and collected on the several lots and parcels of land in the said local improvement district , and the proceeds of the sale of the bonds of the said district for the purpose of defraying the cost and expense of such improvement. Out of said' fund shall be paid the bonds, the interest thereon, the cost of materials and fixed estimate and other expenses in connection with said improvement , except the amount contributed by the Federal Government under WPA for labor. Section 5: The cost and expense of such improvement shall be defrayed only in the manner set forth in Section 2 of this Ordinance . The cost of said improvement to be borne by the property in said district shall be defrayed by special assessment , payable in five annual installments, with interest thereon at the rate of 5 per cent. per annum under the mode of payment by bonds asOrovided by law and the ordinances of said City. Bonds bearing interest at the rate of .,T per cent per annum, payable on or before Seven (7) years from date of issue , shall be issued in payment of the cost and expense of said improvement assessed against the property in said districts or the City of Everett may, at its election, sell the bonds and I make payment ii cash in the manner provided by the ordinances of said City. ilia yo r Attest: City Clerk. rassed: - 37 Published : _ z 7 _3