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Ordinance 2340
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Ordinance 2340
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2/23/2024 2:27:31 PM
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Ordinances
Ordinance Number
2340
Date
11/8/1927
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complete improvement in accordance with plans to be prepared by <br /> the City Engineer; also the cost of acquiring by purchase or con- <br /> demnetion, or both, any right-of-way necessary for the construc- <br /> tion of such improvement. <br /> Section 2: That the City issue and sell in the manner <br /> provided by statute its serial negotiable coupon bonds, matur- <br /> ing and numbered from one (1) upward consecutively in a sum not <br /> to exceed 40 for the purpose of raising funds to carry <br /> into effect the foregoing proposition. Said bonds shall bear in- <br /> terest at not to exceed the rate of six per cent (66) per annum; <br /> said interest to be payable semi-annually; that the various annual <br /> maturities of said bonds shall commence with the second year af- <br /> ter the date of issue and shall, as nearly as practicable, be <br /> in such amounts as will, together with interest on all out-stand- <br /> ing bonds, be met by an equal annual tax levy for the payment of <br /> said bonds and interest . Said bonds shall run for a period of <br /> twenty-five (25) years and shall be of the denomination of Five <br /> Hundred dollars W500.00) each, and shall be payable at the of- <br /> fice of the City Treasurer of Everett, Snohomish County, Washing- <br /> ton. Said bonds shall be payable out of a sinking fund as fpro- <br /> vided by law. <br /> Section 3: That said proposition be submitted to the vo- <br /> ters of Everett at a special bond election to be held thereon on <br /> December 3, 1927, and notices for the submission of said proposi- <br /> tion shall be given as provided by law. <br /> Section 4: The propositions submitted to be voted on in <br /> the following manner, to-wit: <br /> Every voter at such election desiring to vote in favor <br /> of said proposed issue of bonds for said above mentioned pro- <br /> position as described in this ordinance, shall vote a ballot <br /> containing the following statement of the proosition by <br /> placing an "X" in the square on said ballot opposite and at <br /> -2- <br />
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