Ordinance 2224 - Laserfiche WebLink

ORDINANCE NO. 2224 An Ordinance amending Ordinance No. 2206 of the amity of Everett, entitled: "An ordinance providing for the improvement of Maple ave- nue from llth street to 15th street by the installation of a 2 inch water main and its necessary appurtenances and doing all other work necessary to make a complete improvement, creating an assess- ment district, creating a local improvement district fund therefore f'nd providing that payment for said improvement be made by special assessment on the property in said district under the mode of pay- ment by bonds. " by changing the number of annual. inst -llment payments from tea. (1 to five (5) and by changing the maturity of said bonds from on or before twelve years from date of issue to on or before seven years from date of issue. THE CITY OF EVERETT DOES ORDAIN: Section 1. That Section 5 of Ordinance No. 2206 of the City of Everett be amended so as to read as follows, to-wit: "Section 5. The costs and expenses of such improvement shall be defrayed by special assessments, payable in five (5) annual in- stallments, with interest thereon at the rate of seven (7 ) per cent. per annum under the mode of payment by bonds, as provided by law and the ordinances of said city. Bonds bearing interest at the rate of seven ( 7) per cent. per annum, payable on or before seven 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 and make payment in cash in th e manner provided by the Ordinances of said city. Section 2. An emergency is declared to exist and this or- dinance shall take effect immediately upon its passage and publica- tion. 17 V Mayor. Passed: Se e , 1 _ 5 Attest : Ci le . Published: uc to ;er 1, 145