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ORDINANCE NO. 7-3 /6 <br /> AN ORDINANCE of the City of Everett, Washington, <br /> providing for the issuance and sale of $31,000 <br /> of water revenue bonds of the city to pay part <br /> of the cost of certain additions and improve- <br /> ments to and extensions of the water supply <br /> and distribution system of the city as authorized <br /> by Ordinance No. 3631 thereof; providing the <br /> date, form, terms and maturities of said bonds; <br /> providing and adopting certain covenants and <br /> protective features safeguarding the payment <br /> of the principal of and interest on said bonds; <br /> confirming the sale thereof; and declaring an <br /> emergency. <br /> WHEREAS, pursuant to Ordinance No. 3633 of the City of <br /> Everett, passed and approved September 10, 1957, the city issued <br /> its water revenue bonds dated October 1, 1957, in the total principal <br /> sum of $3,850,000, for the purpose of providing funds to acquire, con- <br /> struct and install certain additions and improvements to and extensions <br /> of the water supply and distribution system of the city described and <br /> authorized by Ordinance No. 3631 of the city, passed and approved <br /> August 20, 1957; and <br /> WHEREAS, pursuant to Ordinance No. 3754 of the city, passed <br /> and approved March 15, 1960, the city issued its water revenue bonds <br /> dated April 1, 1960, in the total principal sum of $115,000, for the <br /> purpose of providing funds to pay part of the cost of acquiring, <br /> constructing and installing said additions and improvements to and <br /> extensions of the water supply and distribution system of the city <br /> described and authorized by said Ordinance No. 3631; and <br /> WHEREAS, it now appears that the additional sum of $31,000 <br /> will be necessary to complete paying the cost of acquiring, con- <br /> structing and installing such additions, improvements and extensions; <br /> and <br />