Ordinance 2681 - Laserfiche WebLink

ORDIN._!NCE No. 2681 AN O:: DIN . CE, providing for the reduction of interest rate and extension of date of payment of <<140, 000.00 principal amount of Everett 5-eneral pater Supply `3onds, dated June 1, 1916, issued under Ordinance _ o. 1727 of the pity of Everett; authorizing the siayor and City Clerk to enter into a contract therefor with the a:,ners of said bonds, and declaring an emergency. }RES , there will mature on June 1, 1936, general water supply bonds dated June 1, 1916, issued under Ordinance No. 1727 of the City of verett in the principal sum of 537, 000.00; and IHERES , there will only be sufficient funds on hand to pay the interost accruing on said bonds and <; 397, 000.00 on the principal thereof; and HEREAS , the First _national bank of Everett is the owner of bonds of said issue in the principal sum of 140, 000.00 and is willing to agree to an extension of date of maturity of said bonds and reduction of interest rate thereon; and ':ti.:;.:.a , it is to the best interest of said ity to enter into such agreemont ; NOW, `1fi:EREFO B, the City of Everett does ORDAIN: Section 1: The date of maturity of - verett General Water Supply Bonds, dated June 1, 1916, issued under ordir , _ice No. 1727, owned by the First ITationa,l Bait: of Everett in the total principal sum of wl40, 000.00, shall be -nd the sane are hereby extended from the present due date as follows: Bonds numbered 56 to 75 inclusive; 93 to 100 inclusive ; 166 to 171 inclusive; 177 to 186 inclusive ; 205 to 208 inclusive ; 217 to 220 inclusive; 264 to 274 inclusive ; aZ5 to 34�4 inclusive ; 351; 353; 355; 356; 365; 366 and 367 in the principal sum of 00,000.00 000.00 June 1, 1937; Bonds numbered 368 to 374 inclusive ; 379 to 398 inclusive ; 404 to 413 inclusive; 453; 484 to 525 inclusive, in the principal sum of p40, 000.00 June 1, 1938; Bonds numbered 526 to 574 inclusive; 621; 622; 649 to 658 inclusive ; 766; 767; 849 to 858 inclusive ; 873; 878; 880; 882; 1051; 1052 and 1053 in the principal sum of ,, 40, 000.00, Jane 1, 1939; Bonds numbered 1054 to 1060 inclusive ; 1111 to 1120 inclusive ; 1131 to 1150 inclusive; 1176; 1177 and 1178 in the principal sum of #:20, 000. D0, June 1, 1940;