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40 <br /> 0 <br /> such improvement; out of said fund shall be paid the bonds, the <br /> interest thereon and the entire cost of such improvement. <br /> Section 5: The costs and •expenses of such improvement shall <br /> be defrayed by special assessments, payable in five equal annual <br /> installments, with interest thereon at the rate of seven (7) per- <br /> cent . per annum under the mode of payment by bonds, as provided <br /> by law and the Ordinances of said city. Bonds bearing interest <br /> at the rate of seven (7) per cent , per annum, payable on or before <br /> seven ( 7 ) years from date of issue shall be issued in payment of <br /> the cost and expense of such improvement, or the City of Everett <br /> may, at its election, sell said bonds and make payment in cash <br /> in the manner provided by the ordinances of said city. <br /> Ar_40e) Ii&ef.A.L> <br /> Mayo r. <br /> Attes <br /> City lerk. <br /> Passed: July 23, 1929 <br /> Published: July 25, 1929. <br />