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r . r <br /> • I 4 . , <br /> ORDINANCE NO. 2655 <br /> An Ordinance loaning and transferring to the Water <br /> Construction Fund of the City of Everett the sum of 545,000.00 <br /> from General Water Bond No. 1 Sinking Fund of said City, for <br /> the purpose of paying for the construction of a service pipe <br /> line from the City' s Reservoir No. 2 to the Veyerl aueser <br /> Timber Company Pulp Mill, and providing for the repayment cE <br /> said sum to said. Sinking Fund. <br /> WHEREAS, the City of Everett has heretofore entered <br /> Co. <br /> into a contract with the Weyerhaueser Timber/for the sale of <br /> surplus water from its municipal water supply system, and <br /> in order to comply with the said contract of sale it is <br /> necessary for the City to construct a service pipe line from <br /> its Reservoir to said Pulp Mill; <br /> AND WHEREAS, it is greatly to the advantage of <br /> the said City to comply with the said contract for the sale <br /> of such surplus water, and its municipal water system is in <br /> a thoroughly solvent condition, but at the present time there <br /> is not sufficient cash in the water funds available to pay the <br /> cost of constructing such service pipe line; <br /> .AND WHEREAS, there are ample, funds tat needed at <br /> this time in the General Water Bond No. 1 Sinking Fund of said <br /> City, which can be safely loaned to said water construction <br /> fund, <br /> NOW, THEREFORE, <br /> THE CITY OF EVERETT DOES ORDAIN: <br /> Section 1: That there be borrowed by the Water <br /> Construction Fund of said City of Everett from the General <br /> Water Bond No. 1 Sinking Fund of said City the sum of U45,000.00, <br /> to be used in paying for the constriction or the service pine <br /> from the said Cityis Reservoir No. 2 to the Pulp Mill of the <br /> 1eyerhaueser Timber Company, and the City Treasurer is hereby <br /> -1- <br />