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0 . <br /> Section 3: There is hereby established a Local Improvement <br /> District to be called Local Improvement District No. -='1 , <br /> which district shall include the following described property: <br /> Lots 12 to 14, Inc. Block 3106 16th Street Addition. <br /> Lots 12 to 22, Inc. Block 311. 16th Street Addition. <br /> Lots 12 to 22, Inc. Block 312. 16th Street Addition. <br /> Lots 1 to 5, Inc. Block 3276 16th Street Addition. <br /> Lots 1 to 11, Inc. Block 3286 16th Street Addition. <br /> Lots 1 to 11, Inc. Block 329. 16th Street Addition. <br /> Section 4: A special fund is hereby created to be called <br /> Lotsl Improvement District Fund No. 491 , which shall con- <br /> Sint in the aggregate of the several amounts assessed, levied and <br /> Collected on the several lots and parcels of land in said local <br /> improvement district, and the proceeds of the sale of the bonds <br /> of said district, for the purpose of defraying the costs and ex- <br /> penses of such improvement . Out of said fund shall be paid the <br /> bonds, the interest thereon and the entire cost of such improve- <br /> ment. <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 i provement, or the City of Everett <br /> may, at its election, sell said bonds and make payment in cash: in <br /> the manner provided by the ordinances of said city. <br /> elr , <br /> ayor. <br /> City Clerk. <br /> Passed: May. 7. 1929 . ...4 <br /> Published* May 9., .1.929, <br />