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4 ti <br /> 41P <br /> ance with special benefits received. <br /> section 4: A special fund is hereby created to be called <br /> .Local Improvement District Fund No. 442 , which shall consist in <br /> the aggregate of the several amounts assessed, levied, and col- <br /> lected on the several lots, and parcels of land in said Local <br /> Improvement District, and the proceed ti of the sale of the bonds <br /> of the said District, for the purpose of defraying the costs <br /> and expenses of such improvement. Out of said fund shall be paid <br /> the bonds, the interest thereon and the entire cost of such im- <br /> provement. <br /> Section 5: The costs and expenses of such improvement <br /> shall be defrayed by special assessments, payable in five equal <br /> annual installments, with interest thereon at the rate of seven <br /> per cent. (7%) per annum, under the mode of payment b bonds, as <br /> provided by law and the ordinances of said city. Bonds bearing <br /> interest at the rate of seven per cent. (7%) per annum, payable <br /> on or before seven years from date of issue shall be issued in <br /> payment of the cost and expense of such improvement, or the city <br /> of Everett/may at it§/election, sell said bonds and make payment <br /> in cash in the manner provided by the ordinances of said city. <br /> Ma or. <br /> /2 <br /> Attest: ���. — - ty Clerk. <br /> Passed: Ari1. 27, 1926 <br /> Published: April 29, 1926 <br />