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ORDINANCE No. <br /> 2900. <br /> AN ORDINANCE authorizing and directing the purchase by <br /> the City Treasurer of Everett of certain Local Improvement bonds , <br /> and declaring an emergency. <br /> THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1: The City Treasurer is hereby authorized <br /> and directed to purchase for the benefit of the Local Improvement <br /> Contingent Fund heretofore established, and to the extent only of <br /> the cash available in the said Local Improvement Contingent Fund , <br /> any delinquent Local Improvement District Bonds of the City of <br /> Everett, other than those bonds issued under the Guaranty Laws <br /> of the State of Washington, which may be offered to him at the <br /> price of 10¢ on the dollar of principal, without interest. The <br /> principal of said outstanding bonds is 33,554.76. <br /> Section 2: Payment for the purchase of said Local <br /> Improvement District Bonds shall be made only from the moneys in <br /> the Local Improvement Contingent Fund , and all bonds so purchased <br /> by him shall be held by the City Treasurer as an investment for <br /> said Local Improvement Contingent Fund and subject to the order <br /> of the City Council. <br /> Section 3 : An emergency is declared to exist and <br /> this ordinance shall take effect upon its passage and publication. <br /> nayor <br /> Attest : <br /> City Clerk <br /> Passed: February llth, 1941. <br /> Published: 'ebruary 12tr., 1941 . <br />