Ordinance 2381 - Laserfiche WebLink

1 That sixty poi gent, (-6*%) Elf the expense of said improve- ment shall be bale by and .assessed. kagainst the property within that portion of the enlarged district known as the Direct Bene- fit District and described as follows: All that property between the termini of the proposed improvement and within ninety (90) feet of the marginal lines of the .Norton Avenue Extension. what forty vier cent . (405) of the expense of said improve- ment shall be borne by and assessed against the remaining por- tion of said enlarged district known as the Indirect Benefit Dis- trict. Section 4 A sreoial fund is hereby created to be called Local Improvement District Fund No,, i- 7,5"- , which shall con- sist in the aggregate of the :several amounts assessed, levied and collected on the several lots, tracts and parcels of land in said Local Improvement District and the proceeds of the sale of all the bonds of said district for the purpose of defraying the cost and expenses of such improveme4I.. Out of said fund shall be paid the bonds, interest thereon and the entire cost of such im- provement . Section 5: The oast Aid expense of such improvement shall S be defrayed by special 'assii0ents, payable in Fork equal annual in- stallments,with interept t cin at, the rate of seven (7) per cent . per annum, under the =mode of pio,siet "bar bonds as provided by law and the ordinances Sf said city. ,ds bearing interest at the rate of seven (7) por` pett�.a< per anmam; _ payable on or before tev mTe "1 ('.7) years from date f igpue, shah. ,be issued in payment of the cost and expense of $`e.oh<Aprovement, or the city of Everett may, at its election, . sd .:l° said bonds and make payment in cash in the manner provided by the irdinances` of said city. /Lt-f,Z:itZ Mayor. s _4;-2 City Cleric. Pass • Y� / Y�' Publis� -L ,---j; y.7'