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"LOCAL IMPROVEMENT BONDS , DISTRICT NO. of the <br /> city of Everett, State of Washington. <br /> No. <br /> N.B. This bond is issued by virtue of the provisions of the act of <br /> the legislature of the state of Washington, entitled 'An act relat- <br /> ing to local improvements in cities and towns, and repealing certain <br /> acts and parts of acts. ' Approved march 17 , 1911. Section 52 of <br /> which act reads as follows: 'Neither the holder nor owner of any <br /> b 'nd issued under the authority of this act shall have any claim <br /> therefor against the city by which the same is issued except from <br /> the special assessment made for the improvement for which such bond <br /> was issued, but his remedy in case of non-payment shall be confined <br /> to the enforcement of such assessment. A copy of this section shall <br /> be plainly written, printed or engraved on each bond so issued. <br /> Everett, a municipal corporation of the state of Washing- <br /> ton hereby promises to pay to or bearer <br /> lawful money of the United States , with interest thereon at <br /> the rate of per cent per annum, payable annually out of the <br /> fund established by ordinance No. of said city and known as <br /> local improvement fund district No. of Everett, and not other- <br /> wise. Both principal and interest payable at the office of the city <br /> treasurer of said city. A coupon is hereto attached for each install- <br /> ment of interest to accrue thereon, and said interest shall be paid <br /> only on presentation and surrender of such coupon to the city <br /> treasurer, but in case this bond is called for payment before its <br /> maturity each and every coupon representing interest not accrued at <br /> the time this bond is payable under such call shall be void. This <br /> bond is payable on or before the day of 19 and is <br /> subject to call by the city treasurer of said city whenever there <br /> shall be sufficient money in said local improvement fund to pay the <br /> same, and all unpaid bonds of the series of which this bond is one, <br /> I <br /> which are prior to this bond in numerical order, over and above <br /> sufficient for the payment of interest on all unpaid bonds of said ' <br /> series. The city council of said city as the agent of said local <br /> .,= 44 <br />