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• • <br /> • <br /> parcels of land in said Local Improvement District and the proceeds of the <br /> sale of bonds, or installment notes, in said district for the purpose of defraying <br /> such costs and expenses of said improvements as are provided for in Section 3 <br /> above. Out of said funds shall be paid the bonds, or installment notes, the <br /> interest thereon and the entire costs of such improvements. <br /> Section 6: The costs and expenses of such improvement shall be defrayed <br /> by special assessment payment in ten (10) annual installments with interest <br /> thereon at the rate not to exceed 8% per annum, under the mode of payment <br /> by bonds, or installment notes, as provided by law and by the ordinances of <br /> the City of Everett. <br /> Section 7: This ordinance shall become effective upon becoming valid. <br /> TEST: MAYOR <br /> uL"Y4�1"Y City Clerk <br /> Passed: 07 - - 7/ <br /> Valid: c7 - ` 7 / <br /> Published: / <br />