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w <br /> eft* _• " rrr <br /> Ejection 4: A special fund is hereby created to be called <br /> "Local I :provement nistrict Fund To. �/ ", which shall consist in <br /> the aggregate of t-he several arrounts assessed, levied, and collect- <br /> ed on the several lots and parcels of land in said local i :.provement <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 /> i...proveaent. . Cut of said fund shall be paid the bonds, interest <br /> thereon, and the entire cost of said improvement. <br /> section : That the cost and expense of such improvesent <br /> shall be defrayed by special as, essaents payable in ten s,._ual an- <br /> nual installments with interest thereon at the rate of seven <br /> per cent per annum under the mode of "Payment by Ponds" as defined <br /> by law and the ordinances of said city. Ponds bearing interest at <br /> the rate of seven per cent per annum, payable on or before twelve <br /> years from date of issue shall be issued in payment of the cost <br /> and expense c. said iap:rovergent, or the city of Fverett may, at <br /> its election, sell said bonds and a.ake payment in cash in the <br /> r:,anne-r provided by the ordinances of said city, <br /> r . <br /> Passed Ni J <br /> Attest t..1111 <br /> "ity sler . <br /> Published MAY ¶ I; 1916 <br />