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Ordinance 1914
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Ordinance 1914
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1/17/2025 2:34:26 PM
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Ordinances
Ordinance Number
1914
Date
3/23/1920
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' t ` <br /> • <br /> 1 Section 2: That the cost and expense of such improvement, in- <br /> 2 eluding all necessary and incidental expenses , shall be borne by <br /> 3 and assessed against the property included in the assessment Dis- <br /> 4 trict herein created, in accordance with law. The City of Everett <br /> 5 shall not be liable in any manner for any portion of the costs and <br /> 6 expenses of such improvement. <br /> 7 <br /> Section 3: There is hereby established a Local Improvement <br /> 8 <br /> District to be called Local Improvement District No . 346, which Dis- <br /> 9 <br /> trict shall include the following described property : <br /> 10 <br /> Lots Eleven to sixteen inclusive (11 to 16 Inc. ) of Block 543.An <br /> 11 <br /> unplatted tract in Block 543, and lots seventeen (17) to thirty-two <br /> 12 <br /> (32) inclusive of Block 544 all in Division "I" of Everett . Lots 17 <br /> 13 <br /> to 32 inclusive in Block 498 and Lots 1 to 16 inclusive in Block <br /> 14 <br /> 499, both of Capitol Hill Second Addition. <br /> 15 <br /> 16 Section 4: A special fund is hereby created to be called Local <br /> 17 Improvement District Fund N o . 346, which shall consist in the <br /> 18 aggregate of the several amounts assessed, levied and collected on <br /> 19 the several lots and parcels of land in said Local Improvement Dis- <br /> 20 trict ; and the proceeds of the sale of the bonds of the said Di s- <br /> 21 trict for the purpose of paying the costs and expenses of such <br /> 22 improvement . Out of said Fund shall be paid the bonds, the inter- <br /> 23 est thereon, and the entire cost of such improvement. <br /> 24 Section 5 : The cost and expense of such improvement shall be <br /> 25 <br /> defrayed by special assessments payable in ten annual installments <br /> 26 <br /> with interest thereon at the rate of not more than seven per cent <br /> 27 <br /> per annum, under the mode of payment by bonds as provided by law and <br /> 28 the ordinances of said City. Bonds bearing interest at the rate of <br /> 29 <br /> not more than seven per cent per annum payable on or before twelve <br /> 30 <br /> years from date of issue, shall be issued in payment of the cost <br /> 31 <br /> and expense of such improvement or the City of Everett, may, at its <br /> -2- <br />
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