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Y _ <br /> Section 5. The costs and expenses of such improvement <br /> shall be defrayed in the manner set forth in Section 2 of this or4in- <br /> ance, but the costs of materials, the fixed estimate , and <br /> incidental expenses shall be defrayed by special assessments <br /> on the property in said local improvement District, payable in <br /> five annual installments with interest thereon at the rate of <br /> five per cent (5%) per annum, under the mode of payment by <br /> bonds as provided by la;: and the ordinances of said city,. <br /> Bonds bearing interest at the rate of five per cent per annum, <br /> payable on or before seven (7) years from date of issue, shall <br /> be issued in payment of the costs and expenses of the improvement <br /> assessed against the property in said improvement district or <br /> the City of Everett may, at its election, sell the bonds <br /> and make payment in cash in the manner provided by the ordinances <br /> of said City. <br /> Mayor <br /> Attest: <br /> City Clerk <br /> Passed : June 23 , 193 ; <br /> Published: June 24 , 19 3 ` . <br />