Ordinance 500-78 - Laserfiche WebLink

Section 3: That the cost and expenses of the improvement, including but not limited to, all necessary and incidental expenses or fees or property acquisition costs, shall be borne by and assessed against the property included in the assessment district herein created. The costs and the expenses of the improvement to be assessed against the property, including the assessment district herein created, shall be assessed in accordance with the special benefits derived from the improvement with 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: That there is hereby established a LOCAL IMPROVEMENT DISTRICT TO BE KNOWN AS "LOCAL IMPROVEMENT DISTRICT NO.698" WHICH DISTRICT SHALL INCLUDE THE FOLLOWING described property located in Everett, Snohomish County, Washington: The south one-half of Block 10 and 11 and the north one-half of Block 12 and 13, Plat of Queen Anne Addition to Everett. Section 5: THAT A SPECIAL FUND IS HEREBY CREATED TO BE KNOWN AS "LOCAL IMPROVEMENT DISTRICT FUND NO. 698" 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 INSTALLMENT 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 INSTAL- LMENT NOTES, THE INTEREST THEREON AND THE ENTIRE COST OF SUCH IMPROVEMENT. Section 6: THE COSTS AND EXPENSES OF SUCH IMPROVEMENT SHALL BE DEFRAYED BY SPECIAL ASSESSMENT PAYABLE IN TEN (10) 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-