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Section 4 : A special fund is hereby created to be called <br /> Local Improvement District fund No. 1 which shall consist in <br /> the aggregate of the several amounts assessed, levied and coil ecti d <br /> on the several lots, tracts and parcels of land in said Local <br /> 1 Im;provea.ent ==istrict and the proceeds of the sale of the bon ds of <br /> 2 raid district for the purpose of defraying.; the costs and expenses <br /> 3 of such improvement . Out of said fund shall be -Drid the bonds, <br /> I ^ <br /> 4 j the inzerest thereon and the entire cost of such improvement. <br /> 5 'section J : The costs and expenses of such improvement shall <br /> 6 b e defrayed by special assessments payable in ten equal annual <br /> 7 installments with interest thereon at the rate of seven (7) per <br /> 8 cent per annum, under the mode of payment by bonds as provided by <br /> 9 law, and the ordinances of said city. :ponds bearing interest at the <br /> 10 rate of 7 per annum, payable on or before twelve (12) years from <br /> 11 date of issue, shall be issued in payment of the costs and <br /> 12 expenses of such improvement or the pity of Everett may, at its <br /> 13 election sell said bonds and make payment in cash in the mariner <br /> 14 provided by the ordinances of skid city, <br /> 15 <br /> Mayor <br /> 17 <br /> 18 <br /> Passed: June oth , 192 <br /> 20 Attest : <br /> City Cl rk _._.-_ <br /> 21 <br /> Published: June 7th , 1923 <br /> 22 <br /> 23 <br /> 24 <br /> 25 <br /> 26 <br /> 27 <br /> 28 <br /> 29 _3.. <br /> 30 <br /> 31 <br />