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the principal of and interest on all of such water revenue bonds of <br /> the city as the same shall become due. It is hereby provided, how- <br /> ever, that such subordinated transfers, taxes or payments in lieu of <br /> taxes shall not include pro rata budget charges on such gross revenue <br /> for city departments where such charges will be a reasonable dis- <br /> tribution and share of actual cost. <br /> Section 2. It is hereby found and declared that it is <br /> necessary for this ordinance to be adopted prior to the time of sale <br /> of said $750,000 of water revenue bonds. Therefore, an emergency is <br /> hereby declared to exist, and this ordinance is hereby declared to <br /> be in full force and effect from and after its passage, approval <br /> and publication. <br /> INTRODUCED and READ FOR THE FIRST TIME at a regular meeting <br /> of the City Council this 28th day of November, 1961. <br /> PASSED UNANIMOUSLY by the City Council of the City of <br /> Everett, Washington, at a regular meeting of said Council duly held <br /> this 5th day of December, 1961, and APPROVED by the Mayor on said date. <br /> CITY OF RETT, W INGTON <br /> By <br /> Mayor <br /> ATTEST: <br /> t,; /-.7-71,, ' /L.c__.,L <br /> City Clerk <br /> APPROVED AS TO FORM: <br /> City Attorney <br /> PASSED: December 5, 1961 <br /> PUBLISHED: December 2 ', 1961 <br /> 3. <br />