Ordinance 3816 - Laserfiche WebLink

the Bonds, and any Future Parity Bonds are outstanding that will make available for the payment of the principal of and interest on all of such bonds as the same shall become due an amount equal to at least 1.25 times the maximum amount required in any calendar year hereafter for the payment of all of such principal and interest, after normal costs of maintenance and operation of the System have been paid but before depreciation. b. The provisions of Sections 5, 6, 8, 9, 10, 11, 12 and 13 of Ordinance No. 3633 are hereby incorporated in this ordinance as if set forth herein and by such incorporation are made applicable to the Bonds where so indicated, and are hereby made a part of this ordinance with respect to the Bonds as though fully set forth herein. c. The city hereby reserves the right to issue Future Parity Bonds under the same terms, conditions and requirements and with the same limitations and restrictions as provided in Section 12 of Ordinance No. 3633 for the issuance of revenue bonds on a parity with the Outstanding Parity Bonds and the Bonds. Section 8. The Bonds shall be in substantially the follow- ing form: UNITED STATES OF AMERICA NO. $1,000 STATE OF WASHINGTON CITY OF EVERETT WATER REVENUE BOND, 1961 KNOW ALL MEN BY THESE PRESENTS : That the City of Everett, a municipal corporation of the State of Washington, hereby acknowledges itself to owe and for value received promises to pay to bearer on the first day of October, 19 , the principal sum of ONE THOUSAND DOLLARS 9.