Ordinance 2650 - Laserfiche WebLink

• Lot Block Addition 17 to 26 Inc . 290 Hilton's 2nd Addition 17 to 19 Inc . 303 Division N 14 to 16 Inc . 304 Division N 26 to 32 Inc . 311 Hilton's 2nd Addition 1 to 7 Inc. 312 Hilton's 2nd Addition 3 to 10 Inc . 318 Remington's Addition 23 to 30 Inc . 319 Remington's Addition Section 4. A special fund is hereby created to be called Local Improvement District Fund No. 11 , 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 , the proceeds of the sale of bonds of the said district and the monies allocated to the city of Everett by Federal grant , for the purpose of defraying the costs and expenses of such improvement . Out of said fund shall be paid the bonds, interest thereon, and the entire cost of such improvement . Section 5. The costs and expenses of such improvement shall be defrayed from funds allocated to the city of Everett by Federal grant and by special assessment not to exceed fifty-five (55 ) per cent thereof plus clerk and treasurer's fees, payable in ten equal annual installments , with interest thereon at the rate of ( ) per cent per annum, under the mode of payment by bonds, as pro- vided by law and the ordinances of the city. Bonds bearing interest at the rate of (___%) per cent per annum, payable on or before twelve years from date of issue, shall be issued in payment of the cost and expense of such im- provement, or the city of Everett at its election may sell said bonds and make payment in cash in the manner provided by the ordinances of said city. Mayor Attest: City Clerk Passed : August 7 , 1935. Published : August 7, 193E. -2-