1915/12/30 Council Minutes - Laserfiche WebLink

• • • may be necessary.ae authorized by Ordinance eo.1663 or • said city,paeeed Tune 29th,1915.Sail Sonde are payable • • out or the gross earnings or the water eyetem to be ac- quired by the city or Everett.to the extent or one hundred theueand(8100,000)dollar.,to be set acute annually out of sixty per cent of the geese revenues of such water system,said sum to be set aside until said bond.,both • principal and Interest,are paid In full.Said bonds will be of par value of five hundred(*500)dollars each,and will.bear Interest at not exceeding six per cent per annum from date of lame until paid,,payable semi-annually at the !local agency of the state or vaehington,In New York City. The principal of said bends will be payable as follow.: Foe.1 to 140,inclusive,aux years from date of issue. Nos.141 to 280,Inclusive,seven years from date of Issue. 281 to 420,Inclusive,eight years from date oI lesue. Hoe.421 to 560,Inclusive,nine years from date of issue. Hoe.561 to 700,inclusive,ten years from date or 1 Hoe.701•to 850,inclusive,eleven years from date of issue. Hoe.851 to 980,Inclusive,twelve years from date or Issue. Hos.981 to 1110,Inclusive,thirteen years arum date of Issue. Hoe.1111 to 1240,inclusive,fourteen years from date or Ieoue. 110s.1241 to 1370,ieiluelve,fifteen years from date or issue. 005.1371 to 1510,1ncluelve,sixteen year.from date rf lean.. eee.1511 to 1650,Incluelve,seventeen years from date of Issue. .1651 to 1820,Inclusive,eighteen years from date or Isola. Hos.1821 to 2000,1nnlueive,nineteen years from date of locus Fos.2001 to 2200,1nclusive,twenty years from date or Ise. Hide for said bone w111 be received based on the interest rate proposed by the bidder. Each Sid must be acoempanlee by check of the bidder, certified by some responsible bank,for the cum or ten thee.- and(10,000)dollars':the check of the purcheeer to be re- tained until the bonds by St 14,0 been taken up,and such check shall be forfeited to the city In the event that the purchaser or Balt bonds rella to accept and pay for Said bonds In accordance with his Did.