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either prior to or during the course of construction and installation ,
<br /> as may be authorized by the City Council.
<br /> Section 2 . The estimated cost of the construction and in-
<br /> stallation of said additions and improvements to the water supply and
<br /> distribution system of the city is hereby declared to be , as near as
<br /> may be , the sum of 1,250,000 , which cost shall be paid from the sale
<br /> of the water revenue bonds of the city hereinafter provided for.
<br /> Section 3 . The city does hereby adopt as an integral part
<br /> of the plan for constructing and installing the above described addi-
<br /> tions and improvements to its water supply and distribution system
<br /> that it shall issue and sell its water revenue bonds in the principal
<br /> sum of $1 ,250,000 for paying the cost of the same .
<br /> Said bonds shall be dated July 1 , 1952, shall be in de-
<br /> shall be numbered from 1 to 1250 inclusive ,
<br /> nominations of $1 ,000 eachjshall bear interest at a rate of not to
<br /> exceed 6% per annum payable semiannually on the first days of January
<br /> and July of each year, and shall mature in order of their number as
<br /> follows :
<br /> July 1, 1954 $25 , 000 July 1, 1964 $72, 000
<br /> July 1, 1955 25 , 000 July 1 , 1965 74,000
<br /> July 1, 1956 25 ,000 July 1 , 1966 75 ,000
<br /> July 1 , 1957 62 ,000 July 1 , 1967 77 ,00 0
<br /> July 1, 1958 63 ,000 July 1 , 1968 79 ,000
<br /> July 1, 1959 65 ,000 July 1, 1969 81,000
<br /> July 1, 196o 66,000 July 1 , 1970 83 , 000
<br /> July 1 , 1961 68,000 July 1 , 1971 84,000
<br /> July 1, 1962 69 ,000 July 1 , 1972 86 ,000
<br /> July 1, 1963 71 ,000
<br /> Both principal and interest of said bonds shall be payable
<br /> in lawful money of the United States of America at the office of the
<br /> City Treasurer in Everett, Washington, or, at the option of the holder,
<br /> at the fiscal agency of the State of Washington in the City of New
<br /> 3 .
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