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: ection 4 A special fund is hereby created <br /> to be called Local Improvement :District Fund 140. 366 _I which <br /> shall consist in the aggregate of the several amounts assessed <br /> 1 levied and collected on the several lots, tracts and parcbls <br /> 2 of land in said Local Improvement District andthe proceeds <br /> 3 ! <br /> of the sale of all of the bonds of said district , for the <br /> 4 purpose of defraying the cost and expense of such improvement. <br /> 5 Oat of said fund shall be paid the bonds, the interest <br /> 6 ! thereon and the entire cost of such improvement. <br /> 7 <br /> Section 5 : The cost and expense of such improve- <br /> 8 <br /> ment shall be defrayed by special assessments payable in ten <br /> 9 <br /> annual installments with interest thereon at therate of <br /> 10 <br /> xxXlImeltiThberx seven percent (7%) per annum, under the mode of <br /> 11 <br /> payment by bonds as provided by law and the ordinances of said <br /> 12 <br /> city . .bonds bearing interest at the rate of not more than seven <br /> 13 <br /> percent (7%) per annum, payable on or before twelve years from <br /> 14 <br /> date of issue, shall be issued in payment of the cost and <br /> 15 <br /> expense of such improvement or theeity of . erett may, at its <br /> 16 <br /> election, sell said bonds and make payment in cash in the manner <br /> 17 <br /> provided by the ordinances of ea id uity . <br /> 18 <br /> 19 <br /> 20 mayor. <br /> 21 <br /> 22 Passed: March 29th, 1921 . <br /> 23 <br /> 24 <br /> Attest : <br /> 1.-Lt.or <br /> 25 Jublisned: March 31st , 1$21,. <br /> 26 <br /> 27 <br /> 28 <br /> 29 <br /> 30 <br /> -3- <br /> 31 <br />