Ordinance 241-73 - Laserfiche WebLink

. 1 Section 9 : The costs and expenses of such improve- ment shall be defrayed by special assessments payable in 2 twenty (20) equal annual installments with interest there- on, under the mode of payment by bonds or installment 3 notes as provided by law and the ordinances of the City of Everett. Bonds and installment notes bearing interest at 4 a rate to be negotiated by the City Treasurer in the best interest of the said LID fund, payable on or before twenty- 5 two (22) years from the date of issue shall be issued in payment of the costs and expenses of such improvement or 6 the City of Everett may, at its election, sell said bonds or installment notes and make payments in cash in the man- 7 ner provided by ordinance of said city. 8 Section 10 : The City of Everett authorizes the issuance of bonds and payments of the cost and expenses 9 of the herein-created LOCAL IMPROVEMENT DISTRICT NO. 694 payable out of LOCAL IMPROVEMENT DISTRICT FUND NO. 696 . 10 The warrants shall bear an interest at a rate to be nego- tiated by the City Treasurer in the best interest of said 11 LID and shall be redeemed either in cash or by Local Im- provement bonds as authorized herein. 12 13 CITY OF EVERETT 14 Vii (i). Ct___________ 15 Mayor 16 17 ATTEST: 18 19 Deputy Clerk 20 PASSED : ,Tunic 6, /97� 21 VALID: Tit ni&'//, ty,,3 •PUBLISHED: Tuwr/2, / 973 22 - 23 24 25 - 26 27 28 29 30 31 32