Ordinance 2008 - Laserfiche WebLink

• distance of 973.1 6 feet; thence South 3 degrees 7' 28" W 362,57 feet to a point of curve to left; thence along a curve whose radius is 5704.6 feet for a distance of 197 feet; thence southerly along the east line of the G,IT.IY Cots right-of-way to the point of beginning." 1 That 60 of the expense of said improvement shall 2 be borne by and assessed against the property within that portion ') of the enlarged district known as the direct Benefit District and 4 described as follows: 5 ljll that property between the termini of the above 6 described ailarged District within 90 feet of the marginal line of the Norton Avenue '' tention." 7 That 40 % of the expense of said improvement shall 8 be borne by and assessed against the remaining portion of said 9 10 rilarged District known as the Indirect Benefit District. Section 4 ; A special fund is hereby created to 11 12I be call ed Local Improvement Di. strict I+'und No . 374 which shall 13 consist in the aggregate of the several amounts, assessed, levied 14 and collected on the several lots and parcels of land in said 15 Local Improvement District, and the proceeds of the sale of all 16 of the bonds of said district for the purpose of defraying the 17 cost and eppe1se of such improvement. Out of sei d fund shall 18 be paid the bonds, interest thereon and the entire cost of said 19 i z�zp ro v anent. 20 Section 5 : That the cost and expense of such 21 improvement shall be defrayed by special assessments, payable equal annual installments with interest thereon at 22 in five (�r) 23 the rate of 7% per annum, under the mode of payment by bonds as 24 defined by law and the ordinances of said city. Bonds bearing 25 interest at the rate of 7% per annum, payable on or before 26 seven (7) years from date of issue shall be issued in payment 27 of the cost and expense of such improvement or the city of 28 29 30 31 '?`