Ordinance 3946 - Laserfiche WebLink

Issue Call Date Premium October 1, 1957 October 1, 1967 $104 per $100 par value April 1, 1960 October 1, 1969 $104 per $100 par value December 15, 1961 December 15, 1971 $103 per $100 par value; and WHEREAS, the October 1, 1957, April 1, 1960 and April 1, 1961 bonds are all payable out of the special fund of the City known as the "Everett Water Revenue Bond Redemption Fund" (herein called the "1957 Bond Redemption Fund") created by Ordinance No. 3633 of the City; and the December 15, 1961 bonds are payable out of the special fund of the City known as "Everett 1961 Water Revenue Bond Redemption Fund" (herein called the "1961 Bond Redemption Fund") created by Ordinance No. 3850 of the City; and WHEREAS, Section 6 of said Ordinance No. 3945 provides in part as follows : "Immediately upon receipt of payment in full for the Bonds, the following amounts of the proceeds of the sale thereof shall be paid into or credited to the following special funds of the City: 1957 Bond Redemption Fund, $3,475,000, or such lesser amount as may be necessary to fulfill the requirements of Section 1 of Ordinance No. 3946 [this ordinance} of the City 1961 Bond Redemption Fund, $760,000, or such lesser amount as may be necessary to fulfill the requirements of Section 1 of Ordinance No. 3946 [this ordinance] of the City" and WHEREAS, the above amounts of money so paid into and credited to the above-named bond redemption funds, together with the money now on hand in said funds and in the reserve accounts created in such funds 2.