Ordinance 4322 - Laserfiche WebLink

shall consist in the aggregate of the several amounts assessed and levied and collected on the several lots, tracts, and parcels of ' land in said Local Improvement District, and the proceeds of the sale of bonds in said di8trict for the purpose of defraying the costs and expenses of said improvement. SECTION 8: The City of Everett has received easements for the construction of the improvement except from Station 26$50 to Station 29+50 which cannot be acquired until November, 1969. To provide for the construction of the improvement, the project shall be constructed in two sections and shall be let subject to two separate contracts, one covering the whole project less the area from Station 26+50 to Station 29+50 and one covering the project area from Station 26+50 to Station 29+50. SECTION 9: The cost and expenses of such im- provement shall be defrayed by special assessments payable in ten equal annual installments with interest thereon at the rate of 6% under the mode of payment by bonds as provided by Law and the or- dinances of the City of Everett. Bonds bearing interest at the rate of 6% per annum payable on or before twelve years from date of issue shall be issued in payment of the cost and expenses of such improvement, or the City of Everett, may at its election, sell said bonds and make payment in cash in the manner provided by the ordinances of said city. MAYOR Attest:. City Clerk Passed: Published: