Ordinance 2203 - Laserfiche WebLink

410 City Engineer, which plans and specifications are hereby adopted and approved. Section 2 : That the cost and expense of such improve- ment including all necessary incidental expenses shall be borne by and assessed against the property included in t''e assessment district herein created in accordance with law. The City of Everett shall not be liable in any manner for any portion of the costs and expenses of such improvement, except as provided in Chapter 141, Session laws of 1923 and Ordinance No.2126 of the City of Everett. Section 3 : There is hereby established a Local Improve- ment District to be called Local Improvement District No which district shall include the following described property,to-wit: Lots Block Addition 1-8 Inc 669 Plat of Everett. A " Tunnel Addition B n " ff 8A It Plat of Everett. 18A " " " C " Tunnel Addition D ff ff ff 19-26 Inc " Plat of Everett. Section 4 : That a special fund is hereby created to be called Local Improvement District Fund No , which shall consist in the aggregate of the several amounts assessed, levied and collected on the several lots, tracts and parcels of land in said Local Improvement District and the proceeds of the sale of all of the bonds of said district, for the purpose of defraying the cost and expenses of such improvement . Out of said fund shall be paid the bonds, interest thereon and the entire cost of such improvement . Section 5 : That the costs and expenses of such improve- ment shall be defrayed by special assessment, payable in ten (10) equal annual installmaZts with interest thereon at the rate of seven ( 7) percent per annum, under the mode of paymea t by bonds, as provided by law and the ordinances of said city. Bonds bearing interest at the rate of seven (7) percent per annum, payable on or -2-