Ordinance 2219 - Laserfiche WebLink

4 liable in any manner for any portion of the costs and expenses of such improvement. Section 3. There is hereby established a Local Improvement District to be called Local Improvement District No. 432 , whic h district shall include the following described property: Lotgl. to 16 Inc. in Block 409, St. Nicholas Add. Lots 17 to 32 Inc. in Block 410, St. Nicholas Add. Section 4. A special fund is hereby created to be called Local Improvement District Fund No. 43 , 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 Dis- trict, and the proceeds of the sale of the bonds of said District, for the purpose of defraying the costs and expenses of such imlm ove- ment, 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 annual instal- lments, 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 sev- en (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 the ordinances of said city. ( Mayor . Attest: Ci y lerk. ` Published: „1 17 , 1