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of Everett, said block being bounded as follows: On the north by the <br /> south line of California Street, on the east by the west line of <br /> Colby Avenue, on the south by the north line of Hewitt Avenue, on the <br /> west by the east line of :Hoyt Avenue, and the property included within <br /> said district and none other shall be considered and held to be <br /> the property specially benefited by said improvement. <br /> Section 4: A s ecial fund is hereby created, to be called <br /> 'Local Improvement Fund District Teo. �5 ' and shall consist in the <br /> aggregate of the several amounts a ssessed, levied and collected <br /> upon the several lots and parcels of land in said improvement dist— <br /> rict, 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 such improvement. <br /> Section 5: That the cost and expense of such improvement <br /> shall be defrayed by special assessment payable in ecual <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 /> y,er cent per annum payable on or before , years from the <br /> • <br /> date of issuance shall be issued in payment of the cost and expense <br /> of such improvement, or the city of Everett may, at its election, sell <br /> said bonds and make payment in cash, in the manner provided by the <br /> ordinances of said city. <br /> Mayor. <br /> 'passedFEB 18190 <br /> Attest 3f <br /> erk. <br /> Published FEB 01913 <br />