Ordinance 1727 - Laserfiche WebLink

bonds of said Everett in the sum of 600,000.00, bearing interest at the rate of 5 per annum, payable semi annually, evidenced by interest coupons, said bonds to be of the denomination of 500.00 each and to be- numbered consecutively from i to 1200 in- clusive, and to be dated June 1st, 1916, and all said bonds to be payable June 1, 1936, both principal and interest of said bonds to be payable at the fiscal agency of the State of Washington, in the City and State of New York, and to be payable from the pro- ceeds of an annual tax levied each year upon taxable property of said Everett within the limits of said City, as follows: There shall be levied. each year a tax upon the taxable property of the City of Everett, within the limits of said City, which shall be sufficient to pay the interest on said bonds as the same accrues ; and from and after the year 1928, there shall also be levied annually, a tax sufficient to create a sinking fund for the payment of the principal of said bonds at maturity. Section 2.- That the said general bonds hereby authorized to be issued shall be in substantially the following form: UNITED STATES OF AYERICA STATE OF WASIIINGTON COUNTY OF SNOHOMISH CITY OF EVERETT GENERAL WATER SUPPLY BOND. No. $500. KNOW ALL YEN BY THESE PRESENTS, that Everett, a city and municipal corporation of the State of Washington, acknow- ledges itself to owe and for value received promises to pay to bearer, the sum of Five Hundred Dollars on the first day of June, 1236, with interest thereon from date at the rate of five per century per annum, payable semi-annually on the first days of June and December in each year, on the presentation and surren- der of the annexed interest coupons as they severally become due, -2-