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V <br /> Section 4 : That it is proposed that the city of <br /> Everett, for the purpose of providing funds for the payment of the <br /> above mentioned additions, betterments and extensions as set forth <br /> in section on 1 of this Ordinance shallissue its special water revenue <br /> 1 ! fund b ondein the sum of $350,000.00, payable out of the revenues <br /> 2 of the water system only, bearing interest at a rate not to exceed <br /> 3 six percent ( 6%) per annum, Payable semi-annually and payable by <br /> 4 the City setting aside, semi-annually out of the said revenues of <br /> 5 said water system and paying into a special revenue bond interest <br /> 6 fund No.2, hereinafter mentioned, a sufficient sum tc pay the <br /> 7 interest on said bonds as the said interest becomes due and also <br /> 8 by setting aside out of the revenues of said water system ani paying <br /> 9 into a special water revenue bond fund No.2 a sufficient sum <br /> p 6 quarterly, beginning with the tenth year after date of issue of said <br /> 11 bonds, to pay the principal on all of said bonds as the same mature; <br /> 12 said bonds shall be in the denomination of I'1.ve Hundred ($500.00) <br /> 13 Dollars each and shall mature as follows, to- *i t: <br /> 14 <br /> bonds No. 1 to 140 Incl.shall mature eleven years from date of issue. <br /> 15 " n 141. 280 " twelve n a n n u <br /> " " 281 420 n n n thirteen n Is <br /> 16 ri " 421 560 " n r► f o'.zrteen " i4 <br /> n n 561 700 " " " fifteen rI st it n a <br /> 17 <br /> 18 Said bonds shall be payable at the fiscal agency of the State of <br /> 19 • Washington, in the City of New York, N.Y, shall be issued LITT. conform- <br /> 20 ity to and as provided by the laws of the State of Washington and shall <br /> 21 be in such form and bear such date as may hereafter be prescribed. by <br /> 22 the city vouncii of the city of Everett* <br /> 23 Section 5 : That a special election shall be and <br /> 24 is hereby called to be held in the Uity of Everett on the 7th day of <br /> 25 November,1922 in the various election precincts into which the City <br /> 26 is divided for the purpose of voting thereat by the qualified <br /> 27 electors of said city upon the proposition of the ratification or <br /> 28 <br /> 29 <br /> w 3w <br /> 30 <br /> 31 <br />