Ordinance 2160 - Laserfiche WebLink

► .40 . ► Section 2 : 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 Improvement District to be called Local Improvement District No 409 , which district shall include the following described property, to-wit: Lot Block Addition 17 to 19 Inc 308 Division "U" 14 to 16 " 309 " " 3 to 10 " 313 Remington 's 1st Add. 23 to 30 " 314 " " " Section 4 : A special fund is hereby created to be called Local Improvement District Fund No 409 , 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 yistrct,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 (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 Opdinan ces of said C1.ty• Bonds bearing interest at the rate of seven (7 ) percent per annum, payable 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 paymea t in cash in the manner provided by the ordinances of said c y. d4//f Passed: Oct ®- 9 • _4 yor /_ Attest : �a CitrUle k Published: October La, 1924