Ordinance 2014 - Laserfiche WebLink

40 , 410 and binding to all intents and purposes upon said Everett. 1 Section 4 : The City Council of the City of Everett 2 will provide annually by Ordinance or Resolution for the levy 3 and extension on the tax rolls of said city and for the collection 4 thereof of a direct personal tax in addition to all other County, 5 State or town taxes to be levied according to law, which shall 6 be sufficient to meet the interest on all of said bonds promptly 7 as the same matures, and from and after the year 1934 will 8 also levy an additional tax which shall be sufficient to create 9 a sinking fund for the payment of the principal of said bonds 10 at maturity, and the said Ordinance or Resolution shall not 11 be repealed until, the levy herein provided for shall be fully 12 paid, or the bonds, both principal and interest shall be paid 13 and cancelled and no part of the moneys or fund derived from 14 the levy and collection of such tax as specified in this section 15 shall be diverted to any other purpose than the payment of the 16 principal and interest on said bonds, and the faith, credit, 17 and property of said Everett are hereby pledged for theannual 18 levy and collection of such taxes and the regular payment of the 19 semi-annual interest on said bonds and the payment of the 20 principal of said bonds at the maturity thereof. 21 Section 5 : That the contract for the purchase of 22 said bonds as heretofore enteredinto between Carstens & Earles, 23 Incorporated, and John E. Price & ComPany, as purchasers and 24 Everett as seller, be, and the same is hereby ratified and con 25 firmed and the officers of said city are hereby authorized and 26 directed to deliver said bonds to said purchasers in accordance 27 with the terms of said contract. 28 Section 6 t That the City Treasurer shall keep a 29 register of all said bonds, which register shall show the number, 30 date, amount, interest, to whom delivered and when and where 31 .5_