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• <br /> Section 4 A special fund is hereby created to be called <br /> Local Improvement District Fund No. 498 , which shall consist <br /> in the aggregate of the several amounts assessed, levied_ and col- <br /> lected. on the several lots and parcels of'land in said local imp <br /> provement district, and the proceeds of the sale of the bozos of. <br /> the said district, for the purpose of defraying the costs and ex : <br /> penses of such improvement. Out of said fund `shall be paid <br /> the bonds, the interest thereon and the entire cost ` of such imp'; <br /> provement. <br /> section 5: The costs and expenses of such improvement <br /> shall be defrayed'' "by .special assessments, payable in ten eciaal <br /> annual installments, with interest thereon at the rate of seven <br /> ( 7) per cent per annum, t rider; the mode of payment b,y bonds, <br /> as provided by law and. the ordinances of said city. Bonds bear- <br /> ing interest at the rate of seven (7) per cent. per annum, pay., <br /> able on or before twelve years from date of- issue, 'shall be .is- <br /> suss in payment of the cost and expense ,of such ,improvement, or <br /> the City of Everett may at its election, sell said bonds and make <br /> payment in cash in the manner provided 'by the ordinances of said <br /> city, <br /> Mayor, <br /> City . lark. <br /> Passed: August 13, 1929 <br /> Published: August 16, 1929 <br />