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4 <br /> with interest thereon at the rate ofsix L.%�- per cent per annum, under the <br /> mode of payment by bonds, as provided by law and the ordinances of said City. <br /> Bonds bearing interest at the rate of not exceeding six ( 6%) per cent <br /> per annum payable on or before twelve (12) years from date of issue shall <br /> be issued in payment of not to exceed fifty-five (55%) per cent of the costs <br /> and expenses plus Clerk and Treasurer's fees of such improvement , or the <br /> City of Everett may at its election sell said bonds and make payment in cash <br /> in the manner provided by the ordinances of said city. <br /> Section 6 . It appearing that the Federal Grant from the United States <br /> to the City of Everett for this improvement is dependent upon the furnishing <br /> of the unemployed with employment as quickly as possible, an emergency is <br /> hereby declared to exist and this ordinance shall take effect immediately <br /> upon its passage and publication. <br /> Mayor <br /> Attest: <br /> City Clerk <br /> Passed : November 27th, 19?5. <br /> Published: November 28th, 1935. <br /> -3- <br />