Ordinance 2206 - Laserfiche WebLink

Section 3: There is hereby established a liocal Improvement District to be called Local Improvement District No. 426 , which district shall include the following described property: Lots 18 to 34 Inc. Plat of Everett Div. T. Block 226. Lots 1, 2 and 3A; 4 to 17 Inc. Flat of Everett Div. T. Block 227. Lots 1, 213A & 4A; 5 to 17 Inc. Flat of Everett Div. T. Block 230. Lots 18 to 34 Inc. Plat of Everett Div. T. Block 231. Lots 18 to 34 Inc. Flat of Everett Div. T. Block 258. Lots 1 to 17 Inc. Plat of Everett Div. T. Block 259. Lots 1, 2A, 3A, 4A; 5 to 8 Inc. Flat of Everett Div. T. Block 279. N. 25' of 2 & Less N. 251 2,• Plat of Everett Div. T. Block 279. 3 C and 20 to 32 Inc. Plat of Everett Div. T. Block 280. Section 4: A special fund is hereby created to be calld Lo- cal Improvement District Fund No. 426 , 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 improve- mentBut 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 ten annual installments, 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 seven (7) per cent . per annum, payable on or before twelve (12) years from date of issue shall be issued in payment of the cost and expenses of such improvement, or the City of Everett may at its election, sell said bonds and make payment in cash in the manner pro- vided by the ordinances of said city. � ftrririziArA. 4yor. Passed: June 16, 1925 At t e Published: June 18, 1925