Ordinance 2518 - Laserfiche WebLink

4110r , • of said district for the purpose of defraying the cost and expense of such improvement. Out of said fund shall be paid the bonds, interest, thereon and the entire cost of .such improvement.. • Section 5: The cost and expense • ofsuch improvement shall be defrayed by special assessment payable in ten equal annual installments,", with?. interest thereon=at the rate of six per cent _ per annum, under the mode of *Payment by Bonds" as provided by law and the ordinances of said city, bonds bearing interest at the rate of six 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 improvement, or the City of Everett may, at its election, sell said bonds and make payment in cash in the manner provided by the ordinances of said city. Section 6: In view of the fact that the pavement on Colby Avenue from Pacific Avenue to 23rd Street is mit in an unusually bad condition and in view of the further fact that it would be much less detrimental to the merchants along Colby Avenue to have the street torn up in the Spring time rather than. in the summer time and in behalf of public safety, an emergency is hereby declared to exist and this ordinance shall become effective immediately upon its passage and publication. ,or Mayo ATTEST: City Clerk Passed: March 24th, 1931. Published: March 25th, 1931.