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, 730 MO-a 1,1 RECORD OF CITY COUNCIL
<br /> . interest at whioh they will poncho.all of said bond,or any one or more of said bonds. Bidders—man- -- --- --
<br /> b.for said bonds by offers of prem..on laid bonds at tha stoted max.=rata.or by offer rt.tate said
<br /> a bonds at a rate lertor than the.ated max.um rate or by offers Of premium on rt.....6 rote lower
<br /> ., then t.stated max..rate; provided,however.th.se.Sinking Fund Calorteele.may,if,.its
<br /> ,, 'oration.it shall deem it for t.best interests of the City.te do.give preference to a lower rate of
<br /> ..., ore.re er . o a. ton .y op. le rate o interest said bonds. Sq.bid muot n6 ao- D
<br /> ! oompanied by a certified o.ok upon soree responeihie beim.t.<WY of Everett,In an.ount equ.to .!
<br /> two per aent.of the 61.provided,however,that if t.rtate Tye...of the State of Wa..gton,or !
<br /> , ,ertmlortert.of Publ.Land.of said nate ehell Did for Bald bonds,no d.oalt shall be requ.ed with hic
<br /> , or their bid.
<br /> Sone of oeid bondo will be delivered to.pme.aser tiMeor until.equaL amount of said w.ror.t.
<br /> , ..I have be.Zenon up.d canoodle..d as fast ao said general irt.and current aspen.fond w.-
<br /> r..8 of t.City of Everett.6 t...Irt and°smelled.equ.amount of said bondo will be leaped..1
<br /> ...vexed in exchange therefor. T.audaeoeftil bidder win be requ.ed to ma..d enter ittes a GontrAct
<br /> ' ,with t.City of..ett.sgreeing,at his option,to procure and deliver sell gen..fu.end own.
<br /> ' expense fund warrants end trte ln exchange therefor sn equ.emort.of said bo.e.or that he will turn-
<br /> ,ish in aelvenee of t.delivery to T.of said bonds.amount of money ouffielent to take.8.6 velid
<br /> ...ding warrants biteet es they ore presented for payment after all has been made therefor. It
<br /> ; moat be understood that the mount of bon.,with socr.d.terost th.eon up to the ta.of delivery,
<br /> !may be eq..1 to but shall never exceed the amount Of warruds given in ex...therefor or tenon up end
<br /> [oanoeiled.lieu thereof.with 1ntereet thereon to t.ea.,t.e: an.in no Gam shall asid bonds be
<br /> ' !!disposed of.r loso than p.And emartaarl interest. In ease tne Anmenesee•of said bonds elects to furn-
<br /> 'I.the oitv areas..with money with.1.to tn.up end canoed oe16 warrants,.May do oo uPon t.
<br /> ,vencition that se fest as the wen..ere.rttined by t.Treartmer end by him e.celied.asUal amount
<br /> ',.of se.no..will 1,..3.1.v.r.to the pur.aser thereof. And the Sinking Y.c1 Com.oeion is authorized
<br /> ,ond empOwered to ent.into a contra.with t.s.comful bidder for said bo.s,won.oh ter.end con-
<br /> !!...ions as in its discretion may be neoessary and proper for t.sertwity of the moneyo end.nds th.
<br /> ,mew be f.nished by the purohaser of suoh bondo for the Tempo.of taxi..and eemsaiiina oeid wmer.to
<br /> !,so that sell bends Gan be issued:and generally to Garry out.d accompli.t.fUnding of ertid val.
<br /> !outste.i.warrants in pursusnoe of t.terms of s.d Ordinance No.1266. The Sinking Fond Commission
<br /> ',may award a oontraot for the purelurte of sell bondo to t.be.and meat...age.b.der;re.rving,
<br /> !however,the right at power,in ease it deems it estt ii its sisststion so to di,ti relent ony and all
<br /> bids. And the City of Everett.2ther reserves it.right,in ca.its City Oounoil mill detommlne Bo tO
<br /> '!do,to ca.a S.SI..Yu.comission of se.City to...ender...a cancel warrants held.the ei.-
<br /> Inn fend ao an investment.and to receive in exch..th.efon.mount of said bon.which,with 8.
<br /> 1,accrued interest thereon.will equ.t.amount of Bald warr.ts with accrued i.e..then.. said az-
<br /> ohange to be ma..t.seen rate and Dries.the lowest and bort b.that may be reoals..r said
<br /> bonds. And t.warrants now.sold Sinking Ywd will not be fwd.otheralse than by a.t.ough such
<br /> exch.,tor bort..
<br /> The sale,ezehenge and dispositier.of B.6 bo.s is sWject to the ratifieation and v.idation of
<br /> !!,the a.ve den...ammart indebtedneso to.funded,and to the a.horization of..ia loan by a three- ,
<br /> ;,flftho vote of the eie.ors of oold eity v.I.at a open..eleotion to be hald for said purpose on
<br /> ,I June IS.iSli.
<br /> She City or Sy tt hos cu.Mfaulted in eit.r principal or Interest,hay.g artaya met Its
<br /> coligations promptiM
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