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• <br /> Section 5: That the cost and expense of such improvement <br /> shall be defrayed by special assessment payable in ten equal <br /> annual installments with interest thereon at the rate of not more <br /> than seven per cent per annum under the mode of "Payment by <br /> Bonds" as defined by law and the ordinances of said city. Bonds <br /> bearing interest at the rate of not more than seven per cent per <br /> annum payable on or before twelve years from date of issue shall <br /> be 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 ordinances <br /> of said city. <br /> Mayor. <br /> Passed July3r ,1oi7 <br /> Attest ��-•--�-� _ <br /> City Cler <br /> Published July gt11,J1917 , <br />