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ed, levied, and collected on the several lots and parcels of land in <br /> 1 <br /> said Local Improvement District and the proceeds of the sale of the <br /> 2 <br /> bonds, of the said District, for the purpose of defraying the costs <br /> 3 <br /> and expenses of such improvement. Out of said Fund shall be paid the <br /> 4 <br /> bonds, the interest thereon, and the entire cost of such improvement . <br /> 5 <br /> 6 Section 5 : that the cost and expense of such improvement shall <br /> 7 be defrayed by special assessments payable in ten equal, annual <br /> 8 installments with interest thereon at the rate of not more than sever <br /> 9 per cent per annum, under the mode of payment by bonds, asprovided <br /> 10 by law and the ordinances a f said City. Bonds bearing interest at <br /> 11 rate of not more than seven per cent per annum, payable on or before <br /> 12 twelve (12) years from date of issue, shall be issued in payment of <br /> 13 the cost and expense of such improvement, or the City of Everett may,' <br /> 14 at its election, sell said bonds and make payment in cash in the mann- <br /> 15 er provided by the ordinances of said City. <br /> 16 <br /> 17 <br /> j2y o r. <br /> 18 Passed: May 4th, 19'40• <br /> 19 <br /> 20 lit t e s t : �. - <br /> Ca. y Cie h. <br /> 21 Published:_ May 7th, 19d0. <br /> 22 <br /> 23 <br /> 24 <br /> 25 <br /> 26 <br /> 27 <br /> 28 <br /> 29 <br /> 30 <br /> 31 <br /> 5- <br />