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• <br /> the same respectively become due and payable . <br /> The city further irrevocably covenants that all of such <br /> taxes so collected will be paid into said Bond Redemption Fund in <br /> amounts sufficient to pay such principal and interest at least <br /> thirty days prior to the dates upon which any such interest or <br /> principal and interest shall become due and payable, and that no <br /> part of such Fund shall be used for any other purpose than the <br /> payment of the principal of and interest on said bonds . The full <br /> faith, credit and resources of the city are hereby irrevocably <br /> pledged for the annual levy and collection of such taxes and the <br /> prompt payment of such principal and interest as aforesaid. <br /> Section 6. The City Clerk is hereby authorized and directed <br /> to advertise these bonds for sale in the manner required by law, and <br /> upon the sale thereof the proper city officials are hereby authorized <br /> and directed to do everything necessary for the prompt execution, is- <br /> suance and delivery of said bonds and for the proper use and application <br /> of the proceeds of such sale. <br /> Section 7. This ordinance is declared to be one necessary <br /> for the immediate preservation of the public peace, property, health <br /> and safety of the people of the City of Everett, Washington. An emer- <br /> gency is hereby declared to exist, and this ordinance is hereby declared <br /> to be in full force and effect from and after its passage, approval and <br /> publication as provided by law. <br /> PASSED UNANIMOUSLY by the City Council of the City of <br /> Everett, Washington, at a regular meeting of said Council duly held <br /> -6- <br />