Ordinance 1437 - Laserfiche WebLink

r • ' 4 r the direction of the city engineer and on file in the office of the commissioner of public works. Sec. 2: That the cost and expense of such improvement, including all necessary and incidental expenses, shall be borne by and assessed against the property included in the assessment district hereafter created, in accordance with law. The city of Everett shall not be liable in any manner for any portion of the cost and expense of said improvement. Sec. 3: That there is hereby established a local improvement district to be called local improvement district No.;?:I which said district is described as follows: All the property between the termini of said improvement, abutting upon, adjacent, vicinal or proximate to such portion of said Oakes Avenue as above set forth to a distance back from the marginal likes thereof as provided by law, and the property included within said local improvement district and none other shall be considered and held to be all the property specially benefited by said improvement. Sec. 4: A special fund is hereby created, to be called local improvement fund district No., which shall consist in the aggregate of the several arr.ounts /assessed, levied, and collected upon the several lots or 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 said improvement. Sec. 3: That the cost and expense of such improvement shall be defrayed by special assessment, payable in /a equal 7 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 per cent per annum, payable on or before /? years from the d to of issue, shall be isued in payment of the cost and expense of such improvement, or the city of Everett may, at its election,