Ordinance 2687 - Laserfiche WebLink

six per cent (6 ) per annum, payable semi-annually, both prin- cipal and interest payable solely out of the gross revenues of the water supply system from a special fund designated "1936 Special dater HHevenue bond Fund No. 5" as hereinafter created; said issue of bonds to be in denominations of One Thousand Dollars (41, 000. -0 ) each, numbered from 1 to 1100, inclusive, to mature serially in order of number in from ten to twenty years from date, in installments of Lne Hundred Thirty Thousand Dollars ( 130, 000.00 ) annually; the exact date, maturities, place of payment and form of said bonds to be as the City Council shall hereafter by ordinance prescribe. " 4. That line 10 of Section 3 of said proposed ordinance which read as follows: "due and payable, certain fixed amounts of the gross revenues. be changed to read as follows: "due and payable, certain fixed amounts out of the gross revenues " That line 18 of said section 3, which reads as follows: "maintenance and operation and excepting liens of the special " be changed to read as follows: "maintenance and operation and excepting the lien of the special" 5. That section 4 of said proposed ordinance be changed to read as follows: "Section 4: That the foregoing system or plan for the construction of said additions to and betterments of said water supply system, and the issuance of water revenue bonds to pay therefor, be submitted to the qualified voters of said city for ratification or rejection at a special election to be held therein on the 20th day of June, 1936. That the proposition so to be submitted at said special election shall be in substantially the following form: "Shall the city of Cverett make certain additions to and betterments of the existing water supply system by construct- ; ing a pipe line varying from 36 to 52 inches in diameter, from the outlet of Tunnel . o. 2 at Lake Chaplain and following the present :'o. 2 pipe line to averett at a point near cali- fornia and Harrison Streets in said City, across to City a eser- voir To. 2 and then to a point on 1 orton Hvenue in said City near the plant of the Sound View rule Company, together with all necessary appurtenances and structures, and in ore.er to pay the cost thereof issue its special revenue bonds in the principal sure of not exceeding 1,300,000. bearing interest at a rate of not more than 60 per annum, said bonds being payable solely from the revenues of said water supply system and maturing serially in