Ordinance 2173 - Laserfiche WebLink

41 improved by complete construction of a sewer and its necessary appurtenances and doing all other work necessary to make a complete improvement , according to the plans and specifications, prepared under the direction of the City _anineer, which plans and specifica- tions are hereby adopted and approved. Section : That the cost and expense of such improvement including all necessary incidental expenses shall be 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 . Section 3 : There is hereby established a Local Improve- ment District to be called Local Improvement District No 412 which district shall include the followin>, described property,to-wit : Lot B Block 17, South Park Addition. Lots 1 to 32 Inc . in Block 17, South Park Addition. Section 4 : • A special fund is hereby created to be called Local Improvement -District Fund No 412 , 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 five (b ) 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, payable on or before seven( 7)