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• <br /> CITY STEAM IICATING COMPANY OF EVERETT <br /> EVERETT, WASHINGTON <br /> October 15,1931. <br /> To the Mayor and Commissioners, <br /> City of Everett ,Washington. <br /> Gentlemen: <br /> • <br /> Confirming our conversation of yesterday,the • <br /> City Steam Heating Company. of Everett hereby agrees to <br /> file application immediately with the American Surety <br /> Company for a Surety bond in the amount of $3000.00 with <br /> the conditions and terms as embodied in the form pub- - : <br /> mitted to the City yesterday. <br /> It is mutually understood and agreed between the <br /> City Steam Heating Company of Everett and the City of <br /> Everett,through its commissioners, that if such a bond <br /> can be obtained from the above named surety company or <br /> any other acceptable surety company for a premium not • <br /> in excess of two per cent of the face of the bondlthe <br /> premium will be paid and the bond delivered to the City <br /> of Everett. <br /> It is further mutually understood and agreed that <br /> some mutually agreeable sliding scale of surety bond <br /> principal surswill be arranged so that there will be a <br /> definite ratio between the franchise tax in any one year • 1 <br /> and the probable limit of liability arising from failure <br /> to pay water bills in the same year and the mount of the <br /> face of the syrety bond for the same year. <br /> Yours very truly, <br /> City Steam Heating Company of <br /> Everett, • <br /> CA") <br /> Earl W.Murphy,President. <br /> • <br />