Ordinance 1781 - Laserfiche WebLink

- MP . OPDIYANCF NO. An ordinance providing for the rate of interest to be charged on certain local improvement assessments and local improvement bonds, and amending Prdinance No. 1747 relating to the improvement of 7-all Street, and rrdinance No. 1778 relating to the improvement of Baker Avenue, and declaring an emersency. L THE CITY O 77FRETT DOES ORDAIN: Section 1: That section 5 of ordinance No. 1747 of the city of Everett, relating to the improvement of "'all Street, be and hereby is amended to read as follows: Section 5: That the cost and expense of such improvement shall be defrayed by special assessments payable in ten equal annual install- ments with interest thereon at the rate of not more than seven per cent per annum under the mode of "Payment by Bonds" as defined by law and the ordinances of said city. Bonds bearing interest at the rate of not more than seven per cent per annu , payable on or before twelve years from date of issue shall be issued in payment of the cost and. expense of such improvement, or the city of Everett may at its election sell said bonds and make payment in catill, in the manner provided by the ordinances of said city. " Section 2: That eection 5 of ordinance No. 1778 cf the city of Everett, relating to the improvement of Faker Avenue, be and hereby is amended to read as follows: a section 5: That the cost and expense of such improvement shall be defrayed by special assessments payable in ten equal annual install- ments with interest thereon at the rate of not more than seven per cent per annum under the Lode of "Payment by Bonds" as defined by law and the ordinances of said city . Bonds bearing interest at the rate of not more than seven per cent per annum, payable on or before twelve years from date of issue shall be issued in payment of the cost and expense 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.