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the City Council to be effective on or before the time of delivery <br /> of such Parity Revenue Bonds and/or any increase in contractual <br /> rates for water to be effective on or before the time of delivery <br /> of such Parity Revenue Bonds and/or increased earnings and revenue <br /> to be derived from the sale of water under new contracts which <br /> contracts must be executed on or before the time of delivery of <br /> such Parity Revenue Bonds . <br /> Section 13 . Nothing herein contained shall prevent the <br /> city from issuing revenue bonds or warrants (coupon or otherwise ) <br /> the payment of the principal of and interest on which is a charge <br /> upon the gross revenue of the System junior or inferior to the <br /> payments required to be made out of such gross revenue into the <br /> Bond Redemption Fund and Reserve Account or from refunding any <br /> outstanding revenue bonds or warrants (coupon or otherwise) the <br /> payment of the principal of and interest on which is a charge upon <br /> the gross revenue of the System at or prior to their maturity. <br /> Section 14. The Bonds shall be in substantially the <br /> following form: <br /> UNITED STATES OF AMERICA <br /> NO. S1,000 <br /> STATE OF WASHINGTON <br /> CITY OF EVERETT <br /> WATER REVENUE BOND, 1957 <br /> KNOW ALL MEN BY THESE PRESENTS: <br /> That the City of Everett, a municipal corporation of <br /> the State of Washington, hereby acknowledges itself to owe <br /> and for value received promises to pay to bearer on the first <br /> -17- <br />