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r <br /> Local Improvement District Fund No. 481 , which shall consist w <br /> in the aggregate of the several amounts assessed, levied and <br /> collected on the several lots and- parcels of land in sid local <br /> improvement district, and the proceeds of the sale of all the <br /> bonds of said district, for the purpose of defraying the cost an& <br /> expense of such improvement. ,, Out of said fund shall be :aid <br /> the bonds, interest" thereon and the entire cost of said improve- <br /> ment. <br /> Section 5: jshat the cost and expense of said improve- <br /> ment shall be defrayed by special assessments, payable in ten <br /> (10) equal annual installments with interest thereon at the <br /> rate of seven ( 7) per cent. , under the mode of -payment by bonds <br /> as defined by law and the ordinances of said city. Bonds bear- <br /> ing interest at the rate of seven -:('`l) per cent. per annum, payable <br /> on or before twelve (12) years from date of issue, shall be is- <br /> sued in payment of the cost and expense of such improvement <br /> or the city of Everett may, at its election, sell said bonds <br /> and make payment in cash in the manner provided by the ordinan- <br /> ces of said city. <br /> /7---r2)W(,ea.,,f.Z,_.Y <br /> • • <br /> City0 ark. <br /> Passed: Aii iA41_....14,,_ 1Q28 <br /> Published: August 16, 1928. <br /> i <br />