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S. r <br /> expense of such improvement. <br /> Section 3: That there is hereby established a local <br /> improvement district to be called "Local Improvement District No. <br /> _\q ". Said district shall include the following property: all <br /> the property between the termini of said improvement abutting upon, <br /> adjacent, vicinal or proximate to such portions of said street as <br /> above set forth, to a distance back from the marginal lines thereof <br /> as provided by law, and the property included within said local <br /> improvement district and none other shall be considered and held to <br /> be the property specially benefited by said improvement. <br /> Section 4: A special fund is hereby created to be called <br /> "Local Improvement Fund, District No...ell " , which shall consist in <br /> 7-- <br /> the aggregate of the several amounts assessed, levied and collected <br /> upon the several lots or parcels of land in said improvement <br /> district, and the proceeds of the sale of all of the bonds of said <br /> district. Out of said fund shall be paid the bonds , the interest <br /> thereon, and the entire cost of said improvement. <br /> Section 5: That the cost and expense of such improvement <br /> shall be defrayed by special assessments payable in• _ equal <br /> annual installments , with interest at the rate of per cent per <br /> annum, under the mode of "Payment by bonds" as defined by law and <br /> the ordinances of said city. Bonds bearing interest at the rate of <br /> per cent per annum payable on or before , , years from <br /> the date of issuance shall be issued in payment of the cost and <br /> expense of such imp went, or the city of Everett may, at its <br /> election, sell said bonds and make payment in cash in the manner <br /> provided by the ordinances of said city. <br /> _22 ________. <br /> MAY(i • 1913 laya r• <br /> Passed <br /> Attest _ = -' _ <br /> Clerk. <br /> Published MAY R •: 913 <br />