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the bonds, interest thereon and the entire cost of such <br /> improvement , <br /> 1 <br /> 2 section 5 : The cost and expense of such improvement <br /> 3 shall be defrayed by special assessments payable in five <br /> 4 annual installments with interest thereon at the rate of <br /> 5 not more than seven percent per annum, under the r,iode of <br /> 6 payment by bonds as provided by law and the ordinances of <br /> 7 said city. Bonds bearing interest at the rate of not more <br /> 8 than seven per cent (7%) per annum, payable on or before <br /> 9 seven years from date of issue, shall be issued in pay- <br /> 10 II' merit of the cost and expense of such improvement of' the <br /> 11 City of Everett may, at its election, sell said bonds <br /> 12 end make payment in cash in theinanner provided by the <br /> 13 ordinances of said city. <br /> 14 <br /> 15 Mayo r. <br /> 16 <br /> Passed, 12-7-' 20 . ._ _...._- <br /> 17 <br /> 181 <br /> Attest : <br /> 19 `ity Cler <br /> 20 ' <br /> Published:_ 1am-'20 -..� <br /> 21 <br /> 22 <br /> 23 <br /> 24 <br /> 25 <br /> 26 <br /> 27 <br /> 28 <br /> 29 <br /> 30 <br /> �»3- <br /> 31 <br />