Ordinance 2465 - Laserfiche WebLink

4 in the aggregate of the several amounts assessed, levied and collect- ed on the several lots and parcels of land in said local improvement district, and the proceeds of the sale of the bonds of the said dis- trict, for the expenses of such improvement . Out of said fund shall be paid the bonds, the interest thereon and the entire coat of such improvement. section 5. The costs and expenses of such improvement shall be defrayed by special assessments, payable in ten equal annual instalments, with interest thereon at the rate of seven ( 7 ) 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 seven (7i'o) per cent . per annum, payable on or be- fore 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. .An emergency is declared to exist and this or- dinance shall take effect immediately upon its passage and public- ation. ayor `p Att City Clerk Passed October 22, 1929. Published October 24, 1929.