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• <br /> Section 5: The cost and expense of such improvement shall be <br /> defrayed by special assessments payable in five equal installments <br /> with interest thereon at the rate of not more than 7 per cent <br /> per annum under the mode of payment by bonds , as provided by <br /> law and the Ordinances of said city. Bonds bearing interest at the <br /> rate of not more than seven per cent ( 7 per cent) per annum <br /> payable on or before seven (7) years from date of issue shall be <br /> issued in payment of the cost and expense of such improvement, <br /> or the City of Everett may at its election sell said bonds and <br /> make payment in cash in the manner provided by the drdinance s <br /> of said City. <br /> D. P. Merrill <br /> Trayor <br /> passed: S t 3. 19]9 <br /> Attest: �n ,eah _ _ <br /> City Clerk <br /> Published: Sept, 25, 1919 <br />