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Pr <br /> ► t <br />' I <br /> Deg. 2001 N of SW Cor. Pik 6; th. N 112,51 ; th E. along North <br /> line of Sines Acre Tracts to intersection of alley; th,S to a <br /> point 200 ft North of SE Cor of vi- of Block 6; th.E to point of <br /> beginning. <br /> Section 4 : A special fund is hereby created, to be <br /> called Local Improvement District Pund No. 398 , which shall <br /> 1 <br /> cansist in the aggregate of the several amounts assessed, levied <br /> 2 <br /> and collected on the several lots, tracts and parcels of land <br /> 3 <br /> in said Local Improvement District and the proceeds of the sale <br /> 4 <br /> of the bonds of said district for the purpose of defraying the <br /> 5 <br /> costs and expenses of such improvement . Out of said fund shall be <br /> 6 <br /> paid the bonds, the interest thereon and the entire cost of such <br /> 71 <br /> improvement. <br /> 8 ' <br /> Section 5 : The cost and expense of such improvement <br /> 9 ! <br /> shall be defrayed by special assessments, payable in five ( 5) <br /> equal annual installments with interest thereon at the rate of <br /> 11 <br /> seven (7) per cent per annum under the mode of payment by bonds <br /> 12 ' <br /> as provided by law and the ordinances of said city. Bonds bearing <br /> 13 <br /> interest at the rate of 7% per annum, payable on or before <br /> 14 <br /> seven (7) years from date of issue shall be issued in payment <br /> 15 <br /> of the cost and expense of such improvement or the City of Everett <br /> 16 <br /> may, at its election, sell said bonds and make payment in cash <br /> 17 ;. <br /> 18 <br /> in the manner provided by the ordinances of said city, <br /> 19 , <br /> Jaya/ <br /> 21 <br /> 22 Passed: Nov._.13th_, ;9 3 <br /> 23 / . <br /> 24 Attest: _ *- _ ?. <br /> _____zL::::)._ <br /> City Clerk ; <br /> 25 published Nov lath, 1923 . ____, <br /> 26 <br /> 27 <br /> 28 <br /> 29 <br /> 30 <br /> 31 . <br />