Ordinance 3945 - Laserfiche WebLink

or to the business successor of either or both of said corporations, if any, at its or their main or local office . This bond is one of an issue of eight hundred forty- seven bonds of the City of Everett of like amount, date and tenor except as to number, interest rate and date of maturity, aggregating the total principal sum of $4, 235,000, which bonds are issued pursuant to the laws of the State of Washington, the Charter of the city, and ordinances of the city duly and regularly adopted, for the purpose of providing part of the funds to redeem and retire, with other available money pledged therefor, certain outstanding water revenue bonds of the city. All of the bonds of this issue are payable out of the gross earnings and revenue of the water supply and distribution system of the city and all additions and improvements thereto and extensions thereof. The City of Everett hereby covenants and agrees with the owner and holder of this bond that it will keep and perform all the covenants of this bond and of Ordinance No. 3945 to be by it kept and performed. The City of Everett does hereby pledge and bind itself to set aside from the money in its Water System Fund, and to pay into and maintain in said Bond Redemption Fund and the Reserve Account created therein by said Ordinance No. 3945, the various amounts required by said ordinance to be paid into and maintained in said Fund and Account, all within the times provided by said ordinance. The city has further pledged and bound itself to set aside and pay into said Water System Fund as collected the gross earnings and revenue of its water supply and distribution system and 8 .