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A, a <br /> seven (7) per cent, per annum under the mode of payment by <br /> bonds, as provided by law and the Ordinances of said city. Bonds <br /> bearing interest at the rate of seven (7) percent per annum, <br /> payable on or before twelve (12) years from date of issue, shall <br /> be issued in payment of the cost and expense of such improvement, <br /> or the City of Everett may, at its election, sell said bonds and <br /> make payment in cash in the manner provided by the ordinances of <br /> said city. <br /> Section 6: An emergency is declared to exist and this <br /> ordinance shall take effect and be in full force and effect im- <br /> mediately after the passage and publication of this ordinance. <br /> Mayor. <br /> Attest: riy <br /> City Clerk. <br /> • Pass : DI/ember 13, 1927 <br /> Published: December 15, 1927 <br />