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41 <br /> Section 5: The costs and expenses of such improvement shall <br /> be defrayed by special assessments, payable in ten equal annual in- <br /> stallments, with interest thereon at the rate of seven per cent <br /> (7%) per annum under the mode of payment by bonds, as provided <br /> by law and tine Ordinances of said city. Bonds bearing interest <br /> at the rate of seven per cent (7%) per annum, payable on or be- <br /> fore twelve years from date of issue, shall be issued in payment <br /> of the cost and expense of such improvement, or the City of Ev- <br /> erett may, at its election, sell said bonds and make payment in <br /> cash in the manner provided by the ordinances of said city. <br /> <(:41 (7 <br /> llyor. <br /> Passed: <br /> Attest: <br /> y Clerk. <br /> — <br /> published: 6-24-26 <br />