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'-Y <br />-j,,....1X,' 216 <br /> Councilman Overstreet asked if the passing of this ordinance would <br /> I I.!.. cause the water and sewer rates to be increased and lir. Jones <br /> replied no,that if anything it would delay any increase. <br /> , . Mayor Moore commented that the city will have to increase water <br /> rates in the future,but if the state did not require a mechanical <br /> 44. se9mc treatment plant, no increase would be made in the sewer <br /> rates. If a mechanical plant was mandated by the etate, it would <br /> , <br /> , , cost the city aboUt 820,000,000 and would cause an increase in rates. <br /> X9'' COUNCIL BILL NO.855-49 <br /> ORDINANCE of the City of Everett,Washington,authorizing <br /> the issuance and sale of water and sewer revenue refunding <br /> '2211R'14 bonds in the principal amount of$46,730,000 for the purpose <br /> of refunding the Water and Seger Revenue and Refunding Bonds, <br /> 1978 of the city,the Water and Sewer Revenue Bond, 1900 of <br /> the city,the Water and Seger revenue Bonds,1982 of the city <br /> „ and the Water and Sewer Revenue and Refunding Bonds, 1987 of <br /> 1 '"2'il, the zitYr authOrizing the application and use of other <br /> available moneys of the city and the acquisition and <br /> safekeeping of certain Acquired Obligations for the purpose <br /> It!V'',4; nf accomblishing such refunding: authorizing the execution of <br /> an agreement with Peoples National Bank of Washington to <br /> serve as refunding trustee for the bonds to be refunded; <br /> 12,i 1'tfl, providing the oovenants,.terms and conditions under which the <br /> refundIng bonds and future parity bonde shall be issUedr and <br /> 2. :;;, provading for the sale of the refunding bonds to <br /> Seattle-Northwest Securities Corporation and Drexel Burnham Lambert,Kirechner Noore and COC. <br />: re''''1 Moved by Councilman Overstreet,seconded by the Councilman Michelson <br /> that this 01011010 to be the final reading of Council Bill <br /> '0'; #055-49 and the City Clerk is directed to call the roll for the <br /> final disposition of the ordinance as amended. <br /> AYES: Michelson,Stephanson,Morrow,Overstreet <br />' q. 't NAYS: None <br /> EXCUSED: Lang.,110000,0.190 <br /> l''''2 ' Ordinance No.1139-85 <br /> on motion,the meKing.0700.001 11_ • 41 <br /> • <br /> . ' <br /> .111e.a. —elPi—oar J.— <br /> C rk <br /> i <br /> Read and approved at printelr <br /> !•4 <br />