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1 Section 7: THE COSTS AND EXPENSES OF SUCH IMPROVE- <br /> 2 MENT SHALL BE DEFRAYED BY SPECIAL ASSESSMENT PAYABLE IN <br /> 3 FIFTEEN (15) EQUAL INSTALLMENTS WITH INTEREST THEREON, <br /> 4 UNDER THE MODE OF PAYMENT BY BONDS OR INSTALLMENT NOTES <br /> 5 AS PROVIDED BY LAW AND THE ORDINANCES OF THE CITY OF <br /> 6 EVERETT. BONDS OR INSTALLMENT NOTES BEARING INTEREST <br /> 7 AT A RATE TO BE NEGOTIATED BY THE CITY TREASURER IN THE <br /> 8 BEST INTEREST OF SAID LID FUND, PAYABLE ON OR BEFORE <br /> 9 SEVENTEEN (17) YEARS FROM THE DATE OF ISSUE SHALL BE <br /> 10 ISSUED IN PAYMENT FOR THE COSTS AND EXPENSES OF SUCH <br /> 11 IMPROVEMENT OR THE CITY OF EVERETT MAY, AT ITS ELECTION, <br /> 12 SELL SAID BONDS OR INSTALLMENT NOTES AND MAKE PAYMENTS <br /> 13 IN CASH IN THE MANNER PROVIDED BY ORDINANCE OF SAID <br /> 14 CITY. <br /> 15 <br /> Section 8: THE CITY OF EVERETT AUTHORIZES THE <br /> 16 <br /> ISSUANCE OF WARRANTS IN PAYMENT OF THE COST AND EX- <br /> 17 <br /> PENSES OF THE HEREIN CREATED LOCAL IMPROVEMENT DISTRICT <br /> 18 <br /> 19 NO. 695, PAYABLE OUT OF THE LOCAL IMPROVEMENT DISTRICT <br /> 20 FUND NO. 695. THE WARRANTS SHALL BEAR AN INTEREST AT <br /> 21 A RATE TO BE NEGOTIATED BY THE CITY TREASURER IN THE <br /> BEST INTEREST OF SAID LID AND SHALL BE REDEEMED EITHER <br /> 22 <br /> 23 IN CASH OR BY LOCAL IMPROVEMENT BONDS AS AUTHORIZED <br /> 24 <br /> HEREIN. <br /> CITY OF EVERETT / y <br /> 25 )2 / �t c-"C-ct. <br /> 26 ATTEST: MAYOR <br /> 27 CITY :CLERK <br /> 28 PASSED: a- (I- 7 s' <br /> 29 <br /> VA LID : " 7 <br /> 30 <br /> PUBLISHED : `/ ; 4 7' S) <br /> 31 <br /> 32 <br />