Ordinance 1783 - Laserfiche WebLink

ment district, to be called "Local Improvement District No. which district shall include the following described property,to-wit: All the property bounded on the east by a line at right angles to the Fourteenth Street Dock and 1072 feet west of the Norton Avenue trestle as now constructed upon the ground; on the south by a line parallel to and 200 feet south of the south line of the Fourteenth Street Dock; on the west by a line at right angles to the Fourteenth Street Dock and 1600 feet west of the east line of the Norton Avenue trestle as now constructed upon the ground; on the north by a line parallel to and 200 feet north of the north line of the Fourteenth Street Dock. Section 4: A special fund is hereby created to be called "Local Improvement District Fund No. .;31 ", which shall consist 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 all of the bonds of said district, for the purpose of defraying the cost and expense of such improvement. Out of said fund shall be paid the bonds, interest thereon, and the entire cost of said improvement. Section 5: That the coat and expense of such improvement shall be defrayed by special assessment, payable in five equal annual installments, with interest thereon at the rate of not more than seven per cent per annum, under the mode of "Payment by Bonds" as defined by law and the ordinances of said city. Bonds bearing inter- eat at the rate of not more than seven per cent per annum payable in seven 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 elec- tion sell said bonds and make payment in cash, in the manner provided by the ordinances of said city. f passed M 9 Mayor.— Attest `---�--�- \ City C erk. Published MAR 22 1917