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ORDINANCE NO.
<br /> An ordinance providing for the issuance of .l,100,O00.00
<br /> special Water Revenue Fund Bonds, in accordance with the proposition
<br /> submitted by Ordinance No. 1663 of Everett, passed on June 29, 1915,
<br /> to the voters of said Everett at a special election held within
<br /> said Everett on August 24, 1915, and adopted by said voters at said
<br /> election, providing for the form and tenor of such bonds, the date
<br /> thereof and order of retiring the same, and the payment of the prin-
<br /> cipal and interest thereof, and the establishing of a fund for the
<br /> payment of such principal and interest, and ratifying and confirming
<br /> the sale of said bonds to Carstens & Earles Incorporated, and declar-
<br /> ing an emergency.
<br /> WHEREAS, at a special election held in the city of Everett,
<br /> state of Washington, on August 24, 1915, under and pursuant to
<br /> Ordinance No. 1663 of said city, passed June 29, 1915, more than
<br /> three-fifths of the qualified voters of said city voting at said elec-
<br /> tion voted in favor of the acquirement, by purchase or dondemnation,
<br /> by said city04the present water system in the city of Everett owned
<br /> by the Everett Railway, Light & Water Company, and in favor of the
<br /> proposition of issuing special water revenue fund bonds of said city
<br /> to raise money to pay for such purchase and construction, and
<br /> WHEREAS, said bonds were duly advertised for sale, and the
<br /> bid of Carstens & Earles, incorporated, was the best bid received for
<br /> said bond`, which said bid was duly accepted by said city by Resolu-
<br /> tion No. 2336, adopted march 9, 1916, and
<br /> WHEREAS, the said city has condemned the said water system
<br /> and by the terms of the decree of condemnation payment therefor is to
<br /> be made August 10, 1916,
<br /> NOW THEREFORE, THE CITY OF EVERETT DOES ORDAIN:
<br /> Section 1: That the mayor and city clerk of the city of
<br /> Everett be and they hereby are authorized and directed to issue s_:ecial
<br /> water revenue fund bonds of said Everett in the sum of : 1, 100,O00.00,
<br /> bearing interest at the rate of 51 per cent. per annum, payable semi-
<br /> annually, evidenced by interest coupons, said bonds to be of the
<br /> denomination of . 500.00 each, and to be numbered consecutively
<br /> from 1 to 2,200, both inclusive, and to be dated July 1, 1916,
<br /> said bonds, both principal and interest, to be payable out of the
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