Ordinance 2330 - Laserfiche WebLink

The remainder of the cost of such improvement shall be paid for out of the funds of the Water Department of the city of Everett. The city of Everett shall not be liable in any manner for any por- tion of the costs and expenses of such improvement, except as pro- vided in chapter 141, Session Laws of 1923, and Ordinance No. 2126 of the city of Everett. Section 31 There is hereby established a Local Improve- ment district to be called Local Improvement District No. 464 , which district shall include the following described property, to-wit : Lots 13 to 24, Inc. Block 1. Central Park Addition. Lots 1 to 11, Inc. Block 2. Central Park Addition. Lots 1 to 4 , Inc. Block 22, South Park Addition. Lots 5 to 8, Inc. Block 23, South Park Addition. Lot 1 Block 24, South Park Addition. Lot 1 Block 25, South Park Addition. Section 4: A special fund is hereby created to be called Local Improvement District Fund No, 464 , which shall consist in the aggregate of the several amounts assessed, levied and collected on the several lots, and parcels of land in said Local Improvement District, and the proceeds of the sale of the bonds of said district and the proportionate part of the cost of said improvement to be paid by the Water Department of the city of Everett, for the purpose of defraying the costs and expenses of such improvement. Out of said fund shall be paid the bonds, the interest 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 (5) 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 bearing interest at the rate of seven ( 7) per cent . per annum, payable on or before seven years from date of issue, shall be issued in pay- ment of the cost and expense of such improvement, or the City of