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v + , ' <br /> be calked Local Improvement District Fund 1404,334, which <br /> shall consist in the aggregate of the several amounts <br /> assessed, levied and collected on the several lots, tracts, <br /> 1 <br /> and parcels of land in said Local Improvement .dstrict and <br /> 2 <br /> the proceeds of the sale of all of the bonds of said district, <br /> 3 <br /> for the pur)ose of defraying the cost and expenses of such <br /> 4 <br /> improvement. Ott of said fund shall be paid the bonds, <br /> 5 <br /> interest thereon and the entire cost of such improvement. <br /> 7 Section 5 : the cost and expense of such improvement <br /> 8 shall ce defrayed by special assessments payable in five annual <br /> 9 installments with interest thereon at the rate of not more <br /> 10 than seven per cent per annum, under the mode of payment by <br /> 11 bonds as provided by law and the ordinances of said city. bonds <br /> 12 bearing interest at the rate of not more than seven per <br /> 13 cent (7%) per annum payable on or before seven years from date <br /> 14 of issue, shall be issued in payment of the cost and expense <br /> 15 <br /> of such improvement or the C ity of iverett may, at its <br /> 16 election, sell said bonds and make payment in cash in the <br /> 17 manner provided by the ordinances of said city. <br /> 18 <br /> 19 <br /> 20 Mayor. <br /> 21 Passed: 1 0 <br /> 22 <br /> A ttest: <br /> 23 city tiler , <br /> 24 Published: 11-25-' 0C <br /> 25 <br /> 26 <br /> 27 <br /> 28 -3" <br /> 29 <br /> 30 <br /> 31 <br />