Ordinance 1828 - Laserfiche WebLink

limits; -- Beginning at the northeast corner of 16th street and Baker Ave, thence north along the east line _of Baker Ave. 350 feet; thence east at right angles to the east line of Baker Ave. 2g5.76 feet; thence south parallel to the east line of Baker Ave. 245 feet to the south line of the alley in Block 311, 16th at. addition to Everett; thence west along the south line of the alley in said Block 311, 72 feet; thence south at right angles to the south line of said alley, 105 feet to the north line of 16th street; . thence west along the north line of 16th street to thepoint of beginning. Section 4. A special fund is hereby created to be known as "Local Improvement. District Fund No. 338 , which shall consist in the aggre- gate of the several amounts assessed, levied, and collected on the several lots and parcels of land in said local improvement district, and the pro- ceeds of the sale of all the bonds of said district, for the purpose of paying the cost and expense of such improvement. Out of said fund shall be paid the bonds, the interest thereon, and the entire cost of said im- provement. Section 5. The cost and expense of said improvement shall be defrayed by special assessments payable in ten equal annual instalments, with inteo est thereon at a rate not to exceed seven per cent per annum, under the mode of "Payment by Bonds" as provided by law and the ordinances of said city. Bonds bearing interest at a rate not to exceed seven per cent per annum, payable on or before 12 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 payments in cash in the manner provided by the ordinances of said city. Passed MAY 7 1918 Mayor Attest City lark Published. MAY 9 1918