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• <br /> * <br /> Section 5. The costs and expenses of such improvement shall <br /> be defrayed by special assessments, payable in ten equal annual <br /> installments, with interest thereon at the rate of seven (7) per <br /> cent. per annum, under the mode of payment by bonds, as provided <br /> by law and the ordinances of the cit y.of Everett. Bonds bearing <br /> interest at the rate of seven ( 7) per cent. per annum, payable on <br /> or before twelve years from date of issue shall be issued in pay- <br /> ment of the cost and expense of such improvement, or the City of <br /> Everett may at its election, sell said bonds and make payment in <br /> cash in the manner provided by the ordinance of said city. <br /> Mayor <br /> Passed: une 30, 1925 <br /> Attest• <br /> Deputy City Clerk. <br /> Published July 2, 1925 <br />