Ordinance 3045 - Laserfiche WebLink

a rate not exceeding two and one-half per cent per annum, and be payable, both principal and interest, solely out of the revenues of the water supply system of said City; said bonds bei_ng payable as follows : December 1, 1947 91,000.00 December 1, 1952 ,;.'91,000.00 December 1, 1948 91,000.00 December 1, 1953 91,000.00 December 1, 1949 91,000.00 December 1, 1954 91,000.00 December 1, 1950 91,000.00 December 1, 1955 91,000.00 December 1, 1951 91,000.00 December 1, 1956 91,000.00. Section 3. The City of Everett hereby reserves the right to redeem any or all of the unmatured outstanding bonds of this issue, in inverse numerical order, on any interest payment date on and after five years from date of said bonds, by giving thirty days ' notice of such intended redemption by publication in the official newspaper of said City, and such publication to be not less than thirty days nor more than forty days prior to the date of call , and interest on such bonds so called for redemption shall cease on the date said bonds are called for payment . Section 4. That said refunding bonds hereby authorized shall be in substantially the following form, except as to dates of payment: "No. ,1,000.00 UNITED STATES OF AMERICA STATE OF WASHINGTON CITY OF EVERETT EVERETT 1945 WATER REVENUE REFUNDING BOND KNOW ALL MEN BY THESE PRESENTS that the City of Everett, a municipal corporation of the State of Washington, acknowledges itself to owe, and for value received hereby promises to pay to bearer the sum of ONE THOUSAND DOLLARS, on the 1st day of December, 19 , together with interest thereon from date hereof until paid at the rate of per cent per annum, payable semiannually on the 1st days of June and December of each year, as evidenced by and upon presentation and -2-