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3 ection 4 : A special fund is hereby created to be <br /> called Local Improvement District Fund No . 367 , which shall <br /> consist in the aggregate of the several amounts assessed, levied <br /> 1 and collected on the several lots, and parcels of land in said <br /> 2 Local Improvement District, and the proceeds of the sale of the <br /> i <br /> 3 i bonds of the saidDistrict , for the purpose of defraying the <br /> 4 costs. and expenses of such improvement . Out of said Fund shall <br /> 5 ue paid thebonds, the interest thereon and the entire cost of <br /> 6 such improvement . <br /> 7 Section 5 : The costs and expenses of such improve- <br /> 8 ment shall be defrayed by special assessments, payable in ten (10) <br /> 9 annual installments, with interest thereon at the rate of not <br /> 10 I more than seven (7) percent per annum under the mode of payment <br /> 11 by bonds, as provided by law and .the Ordinances of said City. <br /> 12 Bonds , bearing interest at the rate of not more than seven (7) <br /> 13 per cent per annum, payable on or before twelve (12) yeard from <br /> 14 ! date of issue shall be issued in payment of the cost and expense <br /> 15 of such improvement, or the City of ': vc rett may at its election, <br /> 16 sell said bonds and make payment in cash in the manner provided <br /> 17 by theordinances of said city. <br /> 18 <br /> 19 Mayor. <br /> 20 If <br /> 21 Passed: rch lets l u <br /> 22 Attest : <br /> ` ` <br /> 23 city Cl r <br /> 24 Published. Marchh33rd1921 . <br /> 25 <br /> 26 <br /> 27 <br /> 28 <br /> 29 <br /> 30 -3. <br /> 31 <br />