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. <br /> M , <br /> .. • . '✓ <br /> Sec. 3: That there is hereby established a local <br /> improvement district to be called Local Improvement District No.Z7 0 <br /> which said district is described as follows: All the property <br /> between the termini of said improvement abutting upon, adjacent, <br /> vicinal, and proximate to such portion of said alley to a distance <br /> back from the marginal lines thereof as provided by law, and the <br /> property included within said local improvement district and none <br /> other shall be considered and held to be all the property specially <br /> benefited by said improvement. <br /> Sec. 4: A special fund is hereby created, to be called <br /> Local Improvement Fund, District No. 2— , which shall consist <br /> in the aggregate of the several amounts assessed, levied and col- <br /> lected on the several lots and parcels of land in said local <br /> improvement district, and thr proceeds of the sale of all bonds <br /> of said district. Out of said fund shall be paid the bonds , inter- <br /> est thereon, and the entire cost of said improvement. <br /> Sec. 5: That the cost and expense of such improvement <br /> shall be defrayed by special assessment, payable i: equal <br /> annual installments , with interest at the rate of `7 per cent <br /> per annum, under the mode of 'payment by bonds' , as defined by law <br /> and the charter and ordinances of said city. Bonds bearing inter- <br /> / <br /> est at the rate oper cent per annum, payable on or before.,,, <br /> years from the da issuance, shall be issued in payment of the <br /> cost and expense h improvement, or the city of Everett may, <br /> at its election, sell said bonds and make payment in cash, and in <br /> such case warrants beaing interest at the rate of per cent per <br /> annum shall be issued in payment of such im.provem nt. <br /> Mayor. <br /> Passed <br /> Attest , <br /> ty lerk. <br /> Published k, ,,;V b ,— ..5�-t /_____ <br />