Ordinance 2681 - Laserfiche WebLink

. • • ection 3: There shall be levied each year a tax upon all the taxable property situate within said. City of Everett sufficient in amount to pay the principal and. interest of said bonds as the same accrue, and the full faith end credit of said City is pledged to the levy and collection of said tax and the payment of the principal and interest of said bonds. ,eection 4: he Mayor and iity Clerk are hereby authorized and directed to enter into an agreement with the First :ational Bank of :-verett in substantially the form of the proposed agreement in regerd to said bonds, which agree- ment is on file A.th the City Clerk, and are hereby authorized to take any action necessary to carry out the terms of said agreement . Section 5: That unless arrangements are made for the extension of the maturity of said. bonds herein referred to, said City will, on June 1, 1936, be forced to default in pay- ment of same, and it is necessary for the preservation of the credit of said City and for the public peace and safety, that this ordinance take effect immediately, and an emergency is therefore hereby declared to exist, and this ordinance Shall take effect immediately upon its passage and publication. gassed and approved this 5th day of May , 1936. Mayor Attest: City Clerk Published: May 6-1.k, 1936.