Ordinance 1701 - Laserfiche WebLink

Y . w ORDINANCE NO, teal An ordinance amending Section 5 of Ordinance No, 1651, of the city of Everett, passed April 20, 1915, and published April 23, 1915, and entitled "An ordinance providing for the improvement of Everett Avenue from Broadway to Walnut Street, by clearing and grubb— ing, grading, regrading, parking, construction of concrete curbs, gutters, cement walks, complete drainage system, installation of fire hydrants, paving with asphalt upon a suitable concrete founder. tion, grading and raking parking strips, and doing other work in connection therewith that may be necessary to complete said improve. ment, creating a local improvement district, creating a local improvement district fund therefor, and providing that payment for said improvement be made by special assessments on the property in said district by the mode of'Payment by Bonds' " and dec .aring an emergency. THE CITY OF EVERETT DOES ORDAIN: Section 1: That Section 5 of ordinance No. 1651 of the city of Everett, passed April 20, 1915, and published April 23, 1915, and entitled as above set forth, be, and the same is hereby amended to read as follows: Section 5: That the cost and expense of such improvement shall be defrayed by special assessments, payable in ten equal annual installments, with interest at the rate of seven per cent per annum, under the mode of 'Payment by Bonds' as defined by law and the ordin— ances of said city. Bonds bearing interet at the rate of seven per cent per annum, payable on or before twelve years from the date of issue shall be issued in payment of the cost and expense of such improvement, or the city of Everett day, at its election, 8411 such bpnds, and make payment in cash, in the manner provided by the ordin. ances of said city.