Ordinance 1658 - Laserfiche WebLink

prepared under the direction of the city engineer and on file in the office of the city engineer, which said plans and specifications are hereby adopted and approved. Section 2: That the cost and expense of such improvement, including all necessary and incidental expenses, shall be borne by and assessed aginst the property included in the assessment district herein created in accordance with law. The city of . verett shall not be liable in any manner for any portion of the cost and expense of said improvement. Section 3: That there is hereby established a local improvement district to be called "Local Improvement District No..W " which said district shall include all of Block 397 of The .saint Nicholas Addition toAverett. Section 4: A special fund is hereby created to be called "Local Improvement Fund District No. Y " , which shall consist in the aggregate of the several amounts assessed, levied and collect- ed on the several lots and parcels of land in said local improvement district for the purpose of defraying the cost and expense of said 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 installments, with interest at the rate of 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 r, per cent per annum, payable on or before ten years from date of is., sue, shall be issued in payment of the cost and expense of such improvement. Or the city of Averett may, at its election, jell said bonds and makepayment in cash, in the manner provided by the ordin- ances of said city. Passed MAY 1 R 1915 Attestcy. ) k , a0471<' City Clerk. Published MAY 2 0 1915