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• <br /> • <br /> 1 thereon, and the entire cost of such improvement. <br /> 2 <br /> Section 5: The cost and expense of such improvement shall be <br /> 3 defrayed by special assessments payable in ten annual installments <br /> with interest thereon at the rate of not more than seven per cent <br /> 5 per annum, under the mode of payment by bonds as provided by law and <br /> 6 the ordinances of said City. Bonds bearing interest at the rate of <br /> 7 <br /> not more than seven per cent per annum payable on or before twelve <br /> 8 <br /> years from date of issue, shall be issued in payment of the cost <br /> 9 and expense of such improvement or the City of Everett may, at its <br /> 10 <br /> election, sell said bonds and make payment in cash in the tanner <br /> 11 <br /> provided by the ordinances of said City. <br /> 12 <br /> 13 01/(7 :3Zi"�/ <br /> 14 Mayor. -' <br /> 15 <br /> 16 Passed: August 31 st i 192O <br /> 17 <br /> Attest <br /> 18 <br /> 19 Published: Sept . and, 192O. <br /> 20 <br /> 21 <br /> 22 <br /> 23 <br /> 24 <br /> 25 <br /> 26 <br /> 27 <br /> 28 <br /> 29 <br /> 30 <br /> 31 <br /> -3- <br />