Ordinance 78-70 - Laserfiche WebLink

• • Section 4: That there is hereby established Local Improvement Dis- trict No. 686 , which district shall include the following property located in Everett, Snohomish County, Washington, to-wit: Lots 18 through 32 inclusive in Block 2 , all of Block 3 , and Lots 5 through 16 inclusive in Block 5 , said Blocks as contained in the Plat of Beverly Viewlands Division No. 1 as recorded on Page 3, Volume 12 of Plats , records of Snohomish County, Washington, except that portion deeded for state highway. Section 5 : That a special fund is hereby created to be known as "Local Improvement Fund No. 686 , " which shall consist in the aggre- gate 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 purposed of defraying such costs and expenses of said improvements as are provided for in Section 3 above . Out of said funds shall be paid the bonds , or installment notes , the interest thereon and the entire costs of such improvements . Section 6: The costs and expenses of such improvement shall be de- frayed by special assessment payable in ten (10 ) equal annual in- stallments with interest thereon at the rate of six percent (6%) per annum, under the mode of payment by bonds , or installment notes , as provided by law and by the ordinances of the City of Everett. Bonds , or installment notes , bearing interest at the rate of six percent (6%) per annum payable on or before twelve (12) years from date of issue , shall be issued in payment of the costs and expenses of such improvement; or the City of Everett may, at its election, sell said bonds , or installment notes , and make payment in cash in the manner provided by the ordinances of said City. u Rs :ER C. ANDERSON MAYOR ATTEST: 4111 , L ' L Deputy City Clerk Passed: •—(p --10 Valid : " 7 - 7G Published: $ ' — 7 6