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• ' . <br /> • • <br /> block 551, Vonitor Addition; lots 1 to 11, inclusive, block 628, Replat <br /> of block 62 ; north one-third of block 552, Monitor Addition; . <br /> Section 4: A special fund is hereby created to be called <br /> "Local Improvement District Fund Yo. which shall consist in <br /> the aggregate of the several amounts assessed, levied, and collected <br /> on the several lots and p -reels of land in said local improvement <br /> district, and the proceeds of the sale of all of the bonds of said <br /> district, for the purpose of defraying the cost and expense of such <br /> iIprovement. Outof said fund shall be paid the bonds, interest thereon, <br /> and the entire cost of said improvement. <br /> Section 5: That the cost and expense of such improvement <br /> shall be defrayed by special assessents payable in five equal annual <br /> installments, with interest thereon at the rate of seven per cent per <br /> annum, under the mode of "Payment by Bonds", as defined by law and the <br /> ordinances of said city. Bonds bearing interest at the rate of seven <br /> per sent per annum, payable on or before seven years from date of issue <br /> shall be issued in payment of the cost and expense of said improvement, <br /> or the city of Everett may at its election sell said bonds and make <br /> payment in cash, in the manner provided by the ordinances ofsaid city. <br /> Mnvor. <br /> Passed nu n1 <br /> Attest <br /> City Ole k. <br /> Published __.______ _________g__,_ <br />