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to compute assessments which may be deemed to fairly reflect the <br /> special benefits to the properties being assessed. <br /> Section 6 . Local improvement district warrants may be <br /> issued in payment of the cost and expense of the improvement <br /> herein ordered to be assessed, such warrants to be paid out of <br /> the Local Improvement Fund, District No . 724 , hereinafter <br /> created and referred to as the Local Improvement Fund, and, <br /> until the bonds referred to in this section are issued and <br /> delivered to the purchaser thereof , to bear interest from the <br /> date thereof at a rate to be established hereafter by the City <br /> Treasurer, as issuing officer, and to be redeemed in cash and/or <br /> by local improvement district bonds herein authorized to be <br /> issued, such interest-bearing warrants to be hereafter referred <br /> to as " revenue warrants . " In the alternative, the City here- <br /> after may provide by ordinance for the issuance of other short- <br /> term obligations pursuant to Chapter 39 . 50 RCW. <br /> The City is authorized to issue local improvement district <br /> bonds for the District which shall bear interest at a rate and <br /> to be payable on or before a date to be hereafter fixed by <br /> ordinance . The bonds shall be issued in exchange for and/or in <br /> redemption of any and all revenue warrants issued hereunder or <br /> other short-term obligations hereafter authorized and not <br /> redeemed in cash within twenty days after the expiration of the <br /> thirty-day period for the cash payment of assessments without <br /> interest on the assessment roll for the District . The bonds <br /> shall be redeemed by the collection of special assessments to be <br /> - 4 - <br />