Ordinance 1952 - Laserfiche WebLink

• 1 moneys in such 7' nicipal Market ;revenue Bond :Fund" , and from no 2 other source. The payment of such bonds and the coupons as they fall 3 due is hereby declared to be the only charge which has been made 4 upon said Fund, or which will ever be made thereon until all of such 5 bonds shall have been fully paid. 6 The City of "Everett hereby binds itself not to sell, lease 7 or in any manner dispose of the Public Market herein provided for an 8 its additions, betterments and extensions until all obligations out.. 9 standing against and payable from the special fund hereby created. 10 shall have been fully paid, or in case it shall sell or dispose of 11 the same before payment , it shall not make any sale or disposition 12 without then or theretofore providing that from the proceeds of any 13 such sale or disposition there shall have been paid into such special 14 fund a sum sufficient in amount to discharge the interest and prin.. 15 ciy,al on all bonds issued hereunder and then remaining unpaid, and it 16 shall not in any event sell or disposeof such Public Market, or any 17 substantial part thereof, for a sum less than enough to pay the bonds 18 then outstanding and unpaid, and the interest thereon. 19 The City of Everett further binds itself to establish and 20 maintain rates for such goods, wares and merchandise, as are sold by 21 the City, and the rentals received for space in said Public Market as 22 will provide sufficient revenue to permit such sums being paid into 23 such :Fund as the City has pledged to be set aside semi-annually for 24 interest and annually for principalas herein provided, to be app- 25 lied to the payment of principal and interest on such bonds herein 26 authorized or until such bonds have been paid in full. 27 28 Section 6 ; There is hereby created in the Treasury of Evere t 29 30 aspecial fund to be know as the General Municipal Market Fund." 31 into said Fund shall be paid the proceeds of the sale of the bonds -6-