Ordinance 2198 - Laserfiche WebLink

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 Improvement District to be called Local Improvement District Do 423 , which shall include the following described property, to-wit: Lots 17 to 32 Inc., Block 10 Terrace .:addition. Lots 1 to 16 Inc. , Block 11 Terrace Lddition. Section 4 : A special fund is hereby created to be called Local Improvement District Fund NO 423 , 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 District, and the proceeds of the sale of the bonds of the said District, for the purpose of defraying the costs and expenses of such improvement. Cut 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 ( 5) equal 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) percent per annum, p' yable 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 m nner provided by the ordinances of said city. 007, ) Iayor assed: April 14, 1925 Attest: � City Clerk Published: April 16, 1925