Ordinance 2162 - Laserfiche WebLink

411 W 'ly, shall be borne by and assessed against the property within that portion of the enlarged district known as Direct Benefit District No .1 and described as follows: All that property between a point 186 feet more or less south of the south line of 19th St . produced W'ly and a point 13 ft . north of the Monument line of 14th St . and within 90 ft . of the marginal lines of the Norton avenue Extension. That 60% of the expense of the improvement from 22nd St . to a point 186 ft . south more or less of the S. line of 19th Street . produced W'ly shall be borne by and assessed against the property within that portion of the enlarged district known as Direct Benefit District No.2 and described as follows: All that property between the south line of 22nd St . pro- duced W'ly and a point 186 ft . south of the south line of 19th St . produced W'ly and within 90 ft . of the marginal lines of the Norton Avenue extension. That 40% of the expense of said improvement shall be borne by and assessed against the remaining portion of said enlarged district known as the Indirect Benefit Dig trict. Section 4 : A special fund is hereby created to be called Local Improvement District Fund No. 411, which shall consist in the aggregate of the several amounts, assessed, levied and collected on the several lots and parcels of laird 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 expense of such improvement . Out of said fund shall be paid the bonds, interest thereon and the entire cost of said improvement . Section 5 : That the cost and expense 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)