Ordinance 2298-98 - Laserfiche WebLink

Section 7. Form of Bond. The Bond shall be in substantially the following form: UNITED STATES OF AMERICA NO. $ STATE OF WASHINGTON CITY OF EVERETT WATER AND SEWER REVENUE REFUNDING BOND, 1998 INTEREST RATE: FINAL MATURITY DATE: REGISTERED OWNER: BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION, DOING BUSINESS AS SEAFIRST BANK PRINCIPAL AMOUNT: Dollars The City of Everett, Washington, a municipal corporation organized and existing under the laws of the State of Washington (the "City"), hereby acknowledges itself to owe and for value received promises to pay, but only from the sources and as hereinafter provided, to the Registered Owner identified above, or registered assigns, the Principal Amount indicated above and to pay interest thereon from the date hereof or the most recent date to which interest has been paid or duly provided for at the Interest Rate set forth above. Interest on unpaid principal shall be calculated on the basis of a year of 360 days and twelve 30-day months and shall be payable semiannually on the 1st day of each January and July, commencing on July 1, 1998. Principal of the Bond shall be paid on each July 1, in the years and amounts set forth below: Maturity Year Principal Amount 1998 $ 160,000 1999 3,345,000 2000 2,570,000 Both principal of and interest on this bond are payable in lawful money of the United States of America. Upon final payment of all installments of principal and interest thereon, this bond shall be submitted to the Treasurer of the City for cancellation and surrender. This bond is issued under authority of Ordinance No. passed by the City Council on April 29, 1998 (the "Bond Ordinance"), for the purpose of refunding certain outstanding water and sewer revenue bonds of the City. Capitalized terms used in this bond and not otherwise defined shall have the meanings given them in the Bond Ordinance. -14- DOTOQ5 DOC 98/04/28