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-i • '` <br /> Section 3: <br /> • The assessment roll as herein approved and confirmed shall be filed <br /> with the Treasurer of the City of Everett for collection and said City Treasurer <br /> is hereby authorized and directed to publish notice as required by law <br /> stating that said roll is in his hands for collection and payment of any assessment <br /> thereon or any portion of said assessment can be made at any time within <br /> thirty days from the date of the first publication of said notice without penalty, <br /> interest or cost, and that thereafter the sum remaining unpaid may be paid <br /> in equal annual installments with interest thereon hereby fixed at the rate of <br /> seven and one-half (72) percent. The first installment of assessments on <br /> said assessment roll shall become due and payable during the thirty-day period <br /> succeeding the date one year after the date of first publication by the City <br /> Treasurer of notice that the assessment roll is in his hands for collection <br /> and annually thereafter each succeeding installment shall become due and <br /> payable in like manner. If the whole or any portion of the assessments remains <br /> unpaid after the thirty-day period, interest upon the whole unpaid sum shall <br /> be charged at the rate of six (6) percent per annum and each year thereafter <br /> one of said installments, together with interest due on the whole of the unpaid <br /> balance, shall be collected. Any installment not paid prior to the expiration <br /> of the said thirty-day period during which such installment is due and payable <br /> shall thereupon become delinquent. All delinquent installments shall be <br /> subject to a penalty charge of 5% per annum on the delinquent principal. The <br /> collection of such delinquent installments will be enforced in the manner provided <br /> by law. <br /> Section 4: <br /> This ordinance shall become effective upon becoming valid. <br /> Section 5: <br /> The City may issue and sell bonds on the account of this Local Improvement <br /> District, the interest rate to be determined on market conditions at the time <br /> of sale. This provision shall supercede Section 9 of Ordinance No. 4322. <br /> W e. c...,,,e . <br /> ATTEST: MAYOR <br /> EPUTy City C erk <br /> Passed: / - - 7 / <br /> Valid: 7 _ _ ) <br /> Published: i - j,L - 7 <br />