Ordinance 1859 - Laserfiche WebLink

MP A section 2: That the cost and expense of such improvement , including all necessary incidental expenses, shall be borne by and assessed against the property included in the Assessment District herein created in accordance with law. The City of Everett shall not be liable in any manner for any portion of the costs and expenses of such improvement. section 3: There is hereby established a Local Improvement District to be called Tocal Improvement District No. 3 9 / whihh district shall include the following described property: Lots 17 to 32 Inclusive in ;lock 803, T,verett Tand Company' s First Addition. Lots 1 to 16 inclusive in Block 804 Everett Land Company' s ,irst Addition. Section 4: A special fund is hereby created to be called Local Improvement District Fund No 3`71- / which shall consiet in the aggregate of the several amounts assessed, levied and collected on the several lots and parcels of land in said local Improvement District , and the proceeds of the sale of the bonds of the said district for the purpose of defraying the cost and ex- , penses of such improvement. Out of said fund shall be paid said,"/ bonds the interest thereon and the entire cost of such improvement. Section 5 : The cost and expense of such improvement shall be defrayed by special assessments payable in five.:. equal annual installments with interest thereon at the rate of not more than 7% per annum under the mode of payment by bonds, as pie i .i-deiby law and the Ordinances of said city. Bonds bearing interest at the rate of not more than seven per cent (7 per cent) peraannum payable on or before se rene CO ) years from date of issue shall be issued in payment of the cost and expense of such improvement, or the City of Everett may at its election sell said bonds and make payment in cash in the manner provided by the Ordinance of said City. • D_ D. " errill Passed: Tcad 9 mayor. • upe 10, 1 attest: Louis Leah 'Published: June 12 1919