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Local Improvement District, and the proceeds of the sale of the <br /> bonds of the said District, for the purpose of defraying the <br /> costs and expenses of such improvement. Out of said Fund shall <br /> be paid the bonds, the interest thereon and the entire cost of <br /> such improvement. <br /> Section 5 ; The costs and expenses of such improvement <br /> 3 shall be defrayed by special assessments, payable in ten (10) <br /> equal annual installments, with interest thereon at the ratexa <br /> of seven per cent (7%) per annum under the mode of payment by <br /> bonds, as -required- by law and the Ordinances of said City. Bonds <br /> ` bearing interest at the rate of seven percent (7%) per annul, <br /> payable on orbefore twelve (12) years from date of issue shall be <br /> issued in payment of the cost and expense of such improvement, or <br /> /0 the City of Everett may at its election, sell said bonds and <br /> make payment in cash in the manner provided by the Ordinance of <br /> 12 said City. <br /> 1314 <br /> mayor. IL -- <br /> 5 ' <br /> 16 <br /> Passed: J my 25th , 1922 <br /> 17 <br /> 18 � Attest: ���-' ..,.. <br /> City Clerk. <br /> 19 <br /> 20 Publ.i <br /> 21 <br /> 22 <br /> 23 <br /> 24 <br /> 25 <br /> 26 <br /> 27 <br /> 28 <br /> 29 <br /> ®3r. <br /> 30 <br /> 31 <br />