Ordinance 1713 - Laserfiche WebLink

w • • 0 the cost and expense of such improvement . Section 3 : That there is hereby established a local improvement district , to be called "Local Improvement District No. 3/c " , which said district shall include the following de- scribed property, to-wit : Lots Twenty-one (21 ) to Forty (40) of Block 677 ; Lots one (1 ) to twenty (20) of Block 678, Division "C" ; Lots one (1 ) to fifteen (15) of Block 722 ; Lots sixteen (16) to thirty (30) of Block 723 ; cots one (1) to sixteen. (16) of Block 732 ; lots one (1) to sixteen (l ) of Block 7W and Lots Seventeen (17) to twenty-eight (29) of Block 773 , Division "Fl" ; also a strip of land 132 feet wide on the west side of Nassau Street from the south line of Pacific Avenue to a point 550 feet south, all in Plat of Everett. Section 4 : A special fund is hereby created to be called "Local. Improvement District Fund No.s _" , 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 ex- pense of such improvement . Out of the said fund shall be paid the bonds , interest thereon, and the entire cost of said improvement . Section 5 : That the cost and expense of such improve- ment shall be defrayed by special assessments payable in five equal annual installments , with interest thereon at the rate of aif _. er cent per annum under the mode of "Payment by Bonds" , as defined by law and the ordinances of said city. Bonds bearing interest at the rate of six per cent per annum , payable on or before seven years from date of issue shall be issued in payment of the cost and expense of said im- provement ; or the city of Everett may at its election sell said