Ordinance 2066 - Laserfiche WebLink

F 1 , 41/ complete improvement according to the plans and specifications prepared under the direction of the City gineer, which plans and specifications are hereby adopted and approved. Section 2 : That the cost and expense of such improvement 1 including all necessary incidental expenses shall be borne by 2 and assessed against the property included in the assessment 3 district herein created in accordance with law, The City of Everett 4 shall not be liable in any manner for any portion of the costs 5 and expenses of such improvement. 6 Section 3 : There is hereby established a Local ImprovemT 7 District to be called Local Improvement District No. 385 8 which shall inclu de the following described property, to-wit : 9 Lots 1 to 15 inclusive, lock 614, ":_ucker ' s 1st, Addition 10 Lots 18 to 32 inclusive,=_1 ock 614, '_tucker's 1st. Addition. I � 11 Section 4 : A special fund is hereby created to be 12 called Local Improvement District .-Lund No,__._385 , which shall 13 ; consist in the aggregate of the several amounts assessed, levied 14 and collected on the several lots, tracts and parcels of land 15 in said Local Improvement District, and the proceeds of the sale 16 of the bonds of said district, for the purpose of defraying the 17 costs and expenses of such improvement . Out of said fund shall be 18 paid the bon ds, the interest thereon and the entire cost of such 19 improvement. Section 5 : The cost and expenses of such improvement 20 l 21 shall be defrayed by special assessments, payable in ten (10) 22 equal annual installments with interest thereon at the rate of 23 six per cent (6 5) per annum, under the mode of payment by bonds 24 as provided by law and the ordinances of said City. Bonds bearing 25 interest at the rate of six per cent ( 6 .%) per annum, payable on 26 or before twelve (12) years from date of issue, shall be issued 27 in payment of the costs and expenses of such improvement, or 28 29 30 -2- 31