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Section 5 : The costs and expenses of such improve- <br /> ment shall be defrayed by special assessments, payable in <br /> equal annual installments, with interest thereon at the rate of <br /> r cent per annum under the mode of payment by bonds, <br /> 1 as provided by law and the ordinances of said City. Bonds bearing <br /> 2 <br /> interest at the rat of seven (7) per cent per annum, payable on <br /> tt <br /> 3 or before twelve L421 from date of issue shall be issued <br /> 4 <br /> in payment of the cost and expense of such improvement, or the <br /> 5 j City of Everett may at its election, sell said bonds and make <br /> 6 payment in cash in the manner provided by the ordinances of said <br /> 7 City. <br /> 81I <br /> 9 <br /> Mayor <br /> 10 <br /> 11 <br /> Passed: Oc 25r , 1923 <br /> 12 <br /> 13 I Attest:. �� <br /> City Clerk <br /> I <br /> 14 Published: Bct . 25th , 195 . <br /> 15 <br /> 16 <br /> 17 <br /> 18 <br /> 19 <br /> 20 <br /> 21 <br /> 22 <br /> 23 <br /> 24 <br /> 25 <br /> 26 <br /> 27 <br /> 28 <br /> 29 <br /> 30 <br /> • • j <br /> 31 . r <br />