Ordinance 2197 - Laserfiche WebLink

41 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 af Everett. Section 3 : There is hereby established a Local Improvement District to be called Local Improvement District No 0271 which district shall include the following described property, to -wit: Lots 1 to 32 Inc, Block 626, Plat of Everett. Section 4 : That a special fund is hereby created to be called Local Improvement District Fund No 422 , 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 improvement shall be defrayed by special assessment, payable in five;(5)) equal annual installments with interest thereon at the rate of seven ( 7) percent 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, payable on or before seven (71 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. aor Passed: March 31, 1925 Attest: 4E7_ City Clerk Published: April 2, 1925