Ordinance 2181 - Laserfiche WebLink

• Section 2 : That the cost and expense of such improvement including all necessary incidental expenses shallbe borne by and assessed against the property included in the 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 Chatter 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 No 416 , which district shall include the following described property, to-wit: Lots 1 to 32 Inclusive, T3lock 559, Plat of Everett. Section 4 : 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 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 . Out 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 (10) 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 twelve (12) 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. Yea." -o Passed: i ecembe _.. .hi mow Attest : y er Published: Deceruber 11, 1924