Ordinance 527-78 - Laserfiche WebLink

. . , accordance with the special benefits derived from the improvement without regard to the zone and termini method of spreading assessments. The City shall not be liable in any manner for any of the remaining expense and costs of the improvement except as provided in Chapter 144, Session Laws of 1923 or acts amendatory thereto, and the ordinances of the City of Everett. Section 4: A special Local Improvement District fund is hereby established as Fund No. 74,0 entitled "Alley within the 500 Block, Colby Avenue to Wetmore Avenue, Alley L.I.D." for the design, construction and associated activities required to construct the improvements. Section 5: That there is hereby established a LOCAL IMPROVEMENT DISTRICT TO BE KNOWN AS "LOCAL IMPROVEMENT DISTRICT NO. 700" WHICH DISTRICT SHALL INCLUDE THE FOLLOWING described property located in Everett, Snohomish County, Washington: All of Block 110, Legion Park Addition Replats of Blocks 110 and 111, according to the Plat thereof recorded in Volume 12 of Plats, page 122, records of Snohomish County, Washington. Section 6: THAT A SPECIAL FUND IS HEREBY CREATED TO BE KNOWN AS "LOCAL IMPROVEMENT DISTRICT FUND NO. 700" WHICH SHALL CONSIST IN THE AGGREGATE OF THE SEVERAL AMOUNTS LEVIED, ASSESSED AND COLLECTED ON THE SEVERAL LOTS, TRACTS, AND PARCELS OF LAND IN SAID LOCAL IMPROVEMENT DISTRICT AND THE PROCEEDS OF THE SALE OF BONDS OR IN- STALLMENT NOTES IN SAID DISTRICT FOR THE PURPOSE OF DEFRAYING THE COSTS AND EXPENSES OF SUCH IMPROVEMENT. OUT OF SAID FUNDS SHALL BE PAID THE BONDS OR INSTALLMENT NOTES, THE INTEREST THEREON AND THE ENTIRE COST OF SUCH IMPROVEMENT. Section 7: THE COSTS AND EXPENSES OF SUCH IMPROVEMENT SHALL BE DEFRAYED BY SPECIAL ASSESSMENT PAYABLE IN FIVE (5) EQUAL INSTALLMENTS WITH INTEREST, UNDER THE MODE OF PAYMENT BY BONDS OR INSTALLMENT NOTES AS PROVIDED BY LAW AND THE ORDINANCES OF THE CITY OF EVERETT. BONDS -2-