Ordinance 2391 - Laserfiche WebLink

• Section 2: That the cost and expense of such improve- ment, including all necessary incidental_ expenses, shall be borne by and assessed against the property included in the assessment district herein created in accordance with law. The city of Everett shall not be liable in any manner for any portion of the costs and expenses of such improvement, except as provided in charter 141, Session Laws of 1923, and Ordinance To. 2126 of the city of Everett. Section 3: There is hereby established a Local Improve- • , - Th_strict to be, called Local Improvement District No. 480 , which district shall include the following described property: Lots 17 to 32, Inc., Block 326, Young' s U. 2. Addition. Section 4: A special fund is hereby created to be called Local Improvement District Pund o. iad , which shall consist in the aggregate of the several amounts assess.s4, levied and col- lected on the several lots and parcels of land in. said Local Im- provement District, and the proceeds of the sale of the bonds of said district, for the purpose of defraying the costs and expen_ . ses of such improvement , out of said fund shall be paid the bonds, theinterest thereon and the entire cost of such improvement . Section 5: The costs and expenses of such improvement shall be defrayed by special assessments, payable in five equal annual installments, with interest thereon at the rate of seven ( 7) per cent , per annum under the mode of payment by bonds, as provided by. law and the ordinances of said city. Bonds bear- ing interestat the rate of seven -( 7 ) per cent , per annum, pay- , able on or before seven (7) yeai4 from date of issue Shall be issued in payment of the cost and expense of such improvement, or the city of Everett may, at its election, sell said bonds and mah6 payment in cash in the manner proviaed by the ordinances of said city. rayor. A s qr11;3 •'; Passed: PAUgUtl 14, 19128 - Published:A&gust 16, ..„ ‘• ,