Ordinance 2275 - Laserfiche WebLink

11%, 1/ ' 40 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 expen- ses of such improvement, except as provided in chapter 141, Session Laws of 1923 and Ordinance No. 2126 of the city of Everett. Section 3: There is hereby established a Local Improvement District to be called Local Improvement District No. 450 , which district shall include the following described property: Fractional Lot 21, Fractional Lot 22, Fractional Lot 23, Frattional Lot 25, Lot 26, Fractional Lot 27, Lots 30,31,32,33, 33A,34,34A, 35,35A,56, 36A, 37 and 37A, all in Maple Heights Addition. Section 4: A special fund is hereby created to be called Local Improvement District Fund No. 450 , which shall consist in the aggregate of the several amounts assessed, levied and collect- ed on the several lots, and parcels of land in said. Local Improve- ment District, and the proueeds of the sale of the bonds of said. District, for the purpose of defraying the costs and expenses of such improvement, out of said Fund shall be paid the bonds, the inter- est 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 in- stallments, with interest thereon at the rate of seven per cent(T ) 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 (7) years 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 make payment in cash in the manner provided by