Ordinance 3955 - Laserfiche WebLink

ORDINANCE NO. 30516- AN ORDINANCE of the City of Everett, Washington, providing for the issuance and sale of $4,200,000 of sewer revenue bonds of the city to pay the cost of certain additions and improvements to and extensions of the sewerage system of the city, fixing the date, form, terms, maturities and covenants of said bonds, providing for the payment of the principal of and interest on said bonds out of the Everett Sewer Revenue Bond Re- demption Fund created by Ordinance No. 3768 of the city, providing and adopting certain covenants and protective features safe- guarding the payment of the principal of and interest on said bonds, and authorizing the sale thereof; and declaring an emergency. WHEREAS, the City of Everett has heretofore made certain additions and improvements to and extensions of the system of sewer- age of the city; and WHEREAS, Ordinance No. 3954, adopted May 28, 1963, specified and adopted a further plan of additions and improvements to and extensions of such system; and WHEREAS, in order to provide funds to pay the cost of such additions, improvements and extensions it is deemed necessary and advisable that the city now issue and sell its sewer revenue bonds in the aggregate principal sum of $4, 200,000; and WHEREAS, the City of Everett, pursuant to Ordinance No. 3768, issued and sold $2,700,000 of sewer revenue bonds under date of September 1, 1960, which ordinance provided that additional sewer revenue bonds could be issued on a parity with such bonds if certain conditions could be met; and WHEREAS, it appears to the Council of the City of Everett that said conditions can be met and that it is to the best interests of the city and its inhabitants that the bonds authorized herein be issued on a parity with such September 1, 1960, newer revenue bonds; and