Ordinance 1919 - Laserfiche WebLink

F 1 Section 2: That the cost and expense of such improvement in- 2 cludin :: all necessary incidental expenses, shall be borne by and 3 assessed against the property included in the assessment district 4 herein created in accordance with law. The City of Everett shall 5 not be liable in any manner for any portion of the costs and expens- 6 es of such improvement . 7 Section 3: There is hereby established a Local Improvement Dis- 8 tract to be called Local Improvement District No . 355 , v ai ch 9 District shall include the following described property: 10 11 Lots 20 tO 28 Inc. B1k. 771 , Div . "H" . 12 Lots 1 to 13 Inc. Blk. 772, " 13 Lots 1 to 16 Inc . ilk. ?32, " " 14 Also that tract beginning at the S. W. Corner of P acific Ave. and Nassau St . Div. "H" ; thence south along Nassau St. 550 ft . ; 15 thence west at right angles 132 ft . ; thence north at right angles 550 ft . to Pacific Ave. , thence east along the south line of 16 Pacific Ave. 132 ft . to point of beginning. 17 Section 4: A special fund is hereby created to be called Local 18 Improvement District Fund No . 355 , which shall consist in the 19 aggregate of the several amounts assessed, levied and collected on 20 the several lots and parcels of land in said Local Improvement Dis- 21 trict ; and the proceeds of the sale of the bonds of the said Dis- 22 trict for the purpose of defrayin g the costs and expenses of such 23 improvement. Out of said Fund shall be paid the bonds, the interest 24 thereon, and the entire cost of such improvement . 25 26 Section 5: The cost and expense of such improvement shall be 27 defrayed by special assessments payable in ten annual installments 28 ` ith interest thereon at the rate of not more than seven per cent 29 per annum, under the mode of payment by bonds as provided by law and 30 the ordinances of said City. Bonds bearing interest at the rate of 31 not more than seven per cent per annum payable on or before twelve .2-