Ordinance 3700-19 - Laserfiche WebLink

(d) Any headings preceding the text of the several articles and sections of this ordinance, and any table of contents or marginal notes appended to copies hereof, shall be solely for convenience of reference and shall not constitute a part of this ordinance, nor shall they affect its meaning, construction or effect; and (e) All references herein to "articles," "sections" and other subdivisions or clauses are to the corresponding articles, sections, subdivisions or clauses hereof. Section 2. Authorization of Bonds and Bond Details. For the purpose of refunding the 2014 Bonds and paying costs of issuance, the City shall issue and sell its limited tax general obligation refunding bonds in the aggregate principal amount of not to exceed $26,000,000 (the "Bonds"). The Bonds shall be general obligations of the City, shall be designated "City of Everett, Washington, Limited Tax General Obligation Refunding Bonds, 2019"; shall be dated as of their initial date of delivery; shall be fully registered as to both principal and interest; shall be in the denomination of $5,000 each, or any integral multiple thereof, provided that no Bond shall represent more than one maturity; shall be numbered separately in such manner and with any additional designation as the Bond Registrar deems necessary for purposes of identification; and shall bear interest from their date, payable on June 1, 2020, and semiannually thereafter on the first days of each June and December at rates set forth in the Approved Bid, and shall mature on December 1 in the years and principal amounts set forth in the Approved Bid and as approved by the Chief Financial Officer pursuant to Section 11 of this ordinance. The Bonds of any of the maturities may be combined and issued as term bonds, subject to mandatory redemption as provided in the Notice of Sale for the Bonds and the Approved Bid. -6- 502395238 v2