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shall be defrayed by special assessments, payable in five equal <br /> annual installments,with interest thereon at the rate of seven <br /> (7 ) per cent, per annum, under the mode of payment by bonds, as <br /> provided by laws and the ordinances of said city. Bonds bearing <br /> interest at the rate of sevens (7) per cent . per annum, payable) <br /> on or before seven (7) years from date of issue shall be issued <br /> in payment of the cost and expense of such improvement, or the <br /> city of Elrerett may, at its election, sell said bonds and makeAtr <br /> payment in cash in the manner provided fle the ordinances of said <br /> city. e <br /> Mayer, <br /> At t e <br /> ity JierY. <br /> Passed: October 10, 1928. <br /> Published: October 12, 1928 . <br />