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Stradling Draft 2/27/2025 <br /> <br />NG-U9ZQVMF2/4912-7822-6452v4/200676-0008 <br /> <br /> <br /> <br />CITY OF EVERETT, WASHINGTON <br />ORDINANCE NO. ________ <br /> <br />AN ORDINANCE of the City of Everett, Washington, relating to the <br />combined water, sanitary sewer, and storm and surface water drainage systems of <br />the City (the “Water & Sewer System”); specifying, adopting and ordering the <br />carrying out of a system or plan of additions to and betterments and extensions of <br />the Water & Sewer System; providing for the issuance of one or more series of <br />Water & Sewer Revenue bonds in an aggregate principal amount not to exceed <br />$181,000,000 for the purpose of providing funds necessary: (a) to pay or reimburse <br />all or a portion of the costs of carrying out certain projects comprising a portion of <br />the Plan of Additions, (b) to provide for meeting the debt service Reserve <br />Requirement, if necessary, and (c) to pay the costs of issuance of the bonds; fixing <br />or setting parameters with respect to certain terms and covenants of the bonds; <br />appointing the City’s designated representative to approve the Sale Terms for the <br />bonds; and providing for other related matters. <br /> <br /> <br />Passed March __, 2025 <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />This document prepared by: <br />Stradling Yocca Carlson & Rauth LLP <br />Seattle, Washington