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Section 4 : That a special fund is hereby created to <br /> be called. Local Improvement District Fund. No. 402 which shall <br /> consist in the aggregate of the several amounts assessed, levied <br /> and collected on the several lots, tracts and parcels of land in <br /> said. Local Improvement District and the proceeds of the sale of all <br /> of the bonds of said district, for the purpose of defraying the cost <br /> and expenses of such improvement . Out of said fund shall be paid the <br /> bonds, interest thereon and the entire cost of such improvement. <br /> Section b : The costs and expenses of such improvement <br /> shall be defrayed by special assessment, payable in ten (10) equal <br /> annual installments with interest thereon at the rate of six (6 ) <br /> per cent per annum under the mode of payment by bonds, as provided by <br /> law and the Ordinances of s^ id city. onds 'gearing interest at the <br /> rate of six CC ) percent per annum, payable on or before twelve (12) <br /> years from date of issue shall be issued in payment of the cost a <br /> expense of such improvement , or the City of averett may at its election, <br /> sell said bonds and make payment in cash in the manner provided by <br /> the ordinances of said. city. <br /> fl*)(S,IiVY;%4r7' <br /> Mayo I <br /> Passed• r� <br /> Attest: mac,, <br /> City Cork <br /> publishe 3.: Apri <br /> l 17th, 1924 <br />