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• <br /> • <br /> NOW, THEREFORE, THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1. As used in this ordinance, the following words <br /> shall have the meanings hereinafter set forth: <br /> a. The word "Bonds" shall mean the $115,000 par value of <br /> water revenue bonds of the city issued for the purposes authorized <br /> in Ordinance No. 3631 of the city and this ordinance. <br /> b. The word "System" shall mean the existing water supply <br /> and distribution system of the city as the same may be added to, <br /> improved and extended out of the proceeds of the sale of the Bonds <br /> and as it may later be added to, improved and extended for as long <br /> as any of the Outstanding Parity Bonds, the Bonds, and any Future <br /> Parity Bonds are outstanding--which additions, improvements and ex- <br /> tensions may include the sanitary sewage disposal system of the city <br /> should the same ever be combined with the System in the manner au- <br /> thorized by law. <br /> "Outstanding <br /> c. The words/ Prior Lien Bonds" shall mean the outstanding <br /> water revenue bonds of the city issued under date of July 1, 1952, of <br /> which issue there are now outstanding bonds in the total principal <br /> amount of $985,000. <br /> d. The words "Outstanding Parity Bonds" shall mean the <br /> outstanding water revenue bonds of the city issued under date of <br /> October 1, 1957, of which issue there are now outstanding bonds in <br /> the total principal amount of $3,780,000. <br /> The Outstanding Prior Lien Bonds and the Outstanding <br /> Parity Bonds are the only revenue bonds of the city out- <br /> standing at this time for the payment of the principal of <br /> and interest on which the gross revenue of the System has <br /> been pledged. <br /> e. The words "Bond Redemption Fund" shall mean the fund of <br /> the city created by Section 5 of Ordinance No. 3633 entitled "Everett <br /> -2- <br />