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• <br /> expenses of such improvement, Out of said fund shall be paid the <br /> bonds, the interest thereon and the entire cost of sUch improve- <br /> ment. <br /> Section 5: The cost and expenses of such improvement shall <br /> • be defrayed by special assessments payable in equal annual <br /> installments with interest thereon at the rate of not more than <br /> seven per cent per annum under the mde of payment by b onds, <br /> as provided by law and the ordinances of said city. Ponds bearing <br /> interest at the rate of not more than seven per cent per annum <br /> payable on or before seven years from date of issue shall be <br /> issued in payment of the cost and expense of such improvement, or <br /> the city of Everett may at its election sell said bonds and make <br /> payment in cash in the manner provided by the ordinances of <br /> said city. <br /> • , <br /> D. p. Merrill <br /> Mayor. <br /> Passed: Dec. 9th, 1919 <br /> Attest : Louis Leah <br /> City Clerk. <br /> Published: Dec.. 11 , 1919. <br />