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r* p <br /> r <br /> Section 2: That the cost and expense •of such improvement, <br /> including all necessary and incidental expenses, shall be borne by <br /> and assessed against the property included in the assessment <br /> district hereafter created in accordance with law. <br /> The city of Everett shall not be liable in any manner for <br /> any portion of the cost and expense of such improvement. <br /> Section 3: That there is hereby established a local improve- <br /> ment district to be called Local Improvement District No. ,,`11p <br /> which said district shall contain the following described property: <br /> All the property between the termini of said improvement abutting <br /> upon, adjacent, vicinal, or proximate to such portion of said <br /> Twenty-first Street as above set forth to a distance back from <br /> the marginal lines thereof as provided by law, and the property <br /> included within said local improvement district' and none other shall <br /> be considered and held to be. all the property specially benefited by <br /> said improvement. <br /> Section 4: That there is hereby created a local improvement <br /> district fund to be called Local Improvement Fund District No./.`llo <br /> which shall. consist in the aggregate of the several amounts assessed <br /> levied and collected upon the several lots or parcels of land in <br /> said local improvement district, and the proceeds of the sale of the <br /> bonds of said district for the purpose of paying the cost and expense <br /> of said improvement. Out of said fund shall be paid the bonds, <br /> interest thereon, and entire cost of said improvement. <br /> Section 5: That the cost and expense of such improvement shall <br /> be defrayed by special assessments payable in ten (10) equal annual <br /> installments , with interest at the rate of seven (7 ) per cent per <br /> annum, under the mode of 'payment by• bonds' ,as defined by law,and <br /> the charter and ordinances of said city. Bonds bearing interest <br /> at the rate of seven (7 ) per cent per annum, payable on or before <br /> five years from the date of issue, shall be issued in payment of <br /> the cost and expense of such improvement, or the city of Everett <br />