Ordinance 1705 - Laserfiche WebLink

4 • not be liable in any manner for any portion of the cost and expense of such improvement. Section 3: There is hereby established a local improvement district to be called "Local Improvement District No. 3` ", which district shall include the following described property, to-wit: All property between the termini of said improvement abutting upon, adjacent, vicinal or proximate to such portion of said 'rwentysecond Street as above set forth to a distance back from the marhinal lines thereof two hundred feet, being more particularly described as fol- lows: Lots nine (9) to twenty-four (24) inclusive, Block four hundred thirty-two (432) , and Lots one (1) to eight (8) inclusive, and twenty-five (25) to thirty-two (32) inclusive, Block four hundred eighty-two (482) , all in Plat of Everett. Section 4: A special fund is hereby created to be called "Local Improvement District Fund No.i13 ", 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 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 such improvement. Section 5: That the cost and expense of such improvement shall be defrayed by special assessments payable in ten equal annual install- ments, with interest thereon at the rate of seven per 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 seven per cent per annum, payable on or before t°° elve years from date of issue shall be issued in payment of the cost and expense of said improvement; or the city of Everett may at its election sell said bonds and make payment in cash, in the manner provided by the ordin- ances of said city. Passed ( F01 _) ,) Mayor, Attest e City Clerk, Published FEB 1 7 1916 1