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. <br /> . <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 /> improvement. Out of said fund shall be paid the bonds, interest <br /> thereon, and the entire cost of said improvement. <br /> Section 5: That the cost and expense of such improvement <br /> shall be defrayed by special assessments payable in five equal annual <br /> installments, with interest thereon at the rate of seven per cent <br /> per annum, under the mode of "Payment by Bonds", as defined by law <br /> and the ordinances of said city. Bonds bearing interest at the rate <br /> of seven per cent per annum, payable on or before seven years from <br /> date of issue shall be issued in payment of the cost and expense of <br /> said improvement; or the city of rverett may, at its election, sell <br /> said bonds and make payment in cash, in the manner provided by the <br /> ordinances of said city. <br /> ____.d.2' <br /> mayor,__ <br /> Passed Alm 1 i9tR <br /> Attest . -- t)-----1"--14-----City Clerk. <br /> Published AUG .! 19f8 <br />