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WHEREAS, due notice of the above hearing was given in the manner provided <br /> by law, and the hearing was given in the manner provided by law, and the <br /> hearing was held by the City Council on the date and at the time above <br /> II mentioned, and all objections to the proposed improvement were duly considered <br /> ii and overruled by the City Council, and all persons appearing at such hearing <br /> ii <br /> H and wishing to be heard were heard; and <br /> WHEREAS, the City Council has determined it to be in the best interests of <br /> I I <br /> 1 the. City that the improvement as hereinafter described be carried out and that <br /> a local improvement district be created in connection therewith; <br /> NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1: The City Council of the City of Everett, Washington (the <br /> "City") , orders the construction of arterial street improvements and utility <br /> improvements described in Exhibit A attached hereto and by this reference <br /> incorporated herein. <br /> All of the foregoing shall be in accordance with the plans and <br /> specifications therefor prepared by the City Engineer, and may be modified by <br /> the City Council as long as much modification does not affect the purpose of <br /> the improvement. <br /> Section 2: There is created and established a local improvement district <br /> to be called Local Improvement District No. 726 of the. ' City (the <br /> "District"), the boundaries or territorial extent of such District being more <br /> particularly described in Exhibit B attached hereto and by this reference <br /> incorporated herein. <br /> Section 3: The total estimated cost and expense of the improvement is <br /> declared to be $7,300,000. The entire cost and expense, less the proceeds, if <br /> any, of state or federal grants, including $60,000 ( Sixty Thousand and no/100 <br /> dollars ) from City of Everett 1/2 Cent Gas Tax, received by the City <br /> c. <br /> therefor, shall be borne by and assessed against the property specially <br /> benefited by such improvement included in the District which embraces as <br /> nearly as practicable all property specially benefited by such improvement. <br /> j <br />