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Section 3: <br /> There is created and established a local improvement district to be called <br /> Local Improvement District No. 722 of the City (the "District"), the <br /> boundaries or territorial extent of which District being more particularly <br /> described in Exhibit "B" attached hereto and by this reference incorporated <br /> herein. <br /> Section 4: <br /> The total estimated cost and expense of the improvement is declared to be <br /> $276,800. The entire cost and expense, less the proceeds of any state or <br /> federal grants received by the City therefor, shall be borne by and assessed <br /> against the property specially benefited by such improvement included in the <br /> District embracing as nearly as practicable all property specially benefited <br /> by such improvement. <br /> Section 5: <br /> In accordance with the provisions of RCW 35.44.047, the City may use any <br /> method or combination of methods to compute assessments which may be deemed to <br /> fairly reflect the special benefits to the properties being assessed. <br />