Ordinance 2176 - Laserfiche WebLink

Broadway in what is known as the 2iverside District. The selection of the exact location of said tracts within the limits above described to be left to the discretion of the Bark Board by and with the consent of the City Council. That the city use the surplus remaining out of the funds raised from said issue of bonds in the sum of 4;e30,000.00 after the said purchase of the above tracts of land for improvill,o the same and installing equip- ment to make the same suitable for the purpose of childrensT play ,'rounds. Section Z3: That the city issue and sell in the manner provided by statute, its serial, negotiable, coupon bonds maturing end numbered from one upward consecutively in the sum of ;30, 000:0; for the purpose of raising funds to carry into effect the foregoing proposition. Said bonds shall bear interest at not to exceed the rate of six (6) percent per annum. Said interest to be ooayable semi-annually. That the various annual mattriti es of said bonds shall commence with the secOnd year after the date of issue a.ad shall, as nearly as practicable be in such amounts as will, together with interest on all outstanding bonds be met by an ecrual annual tax levy for the payment of said bonds and interest. Said bonds shall run for a L.244:4) period of s: _rtyears and shall be of the denomination of 100.00 each and shall be payable at the office of the City Treasurer of Everett, Snohomish County, Washington . said bonds shall be payable out of a sinking fund as provided by law. Section That said_ proposition be submitted to the voters of Everett at a special bond election to be held thereon on December, 6th, 1924, and notices of the submission of said proposition shall be given as required by law. Section Am The proposition submitted shall be voted on in the following menner, to-wit: Every voter at such election desiring to vote in favor of said proposed issue of bonds for park pur _roses and childrena , play