Laserfiche WebLink
3 <br /> Both principal of and interest on this bond are payable in lawful money of the United <br /> States of America. For so long as the bonds of this issue are held in fully immobilized form, <br /> payments of principal and interest thereon shall be made as provided in accordance with the <br /> operational arrangements of The Depository Trust Company ("DTC") referred to in the Blanket <br /> Issuer Letter of Representations (the "Letter of Representations") from the City to DTC. The <br /> fiscal agency of the State of Washington has been appointed by the City as the authenticating <br /> agent, paying agent and registrar for the bonds of this issue (the "Registrar"). Capitalized terms <br /> used in this bond that are not specifically defined have the meanings given such terms in <br /> Ordinance No. of the City (the "Bond Ordinance"). Reference is made to the Bond <br /> Ordinance and any and all modifications and amendments thereto for a description of the nature <br /> and extent of the security for the bonds of this issue, the funds or revenues pledged, and the <br /> terms and conditions upon which such bonds are issued. <br /> This bond is one of an issue of$ of bonds of the City of like date, tenor <br /> and effect, except as to number, amount, rate of interest and date of maturity and is issued <br /> pursuant to the Bond Ordinance [to refund certain outstanding water and sewer revenue <br /> bonds][to finance capital improvements to the combined system of water supply and distribution <br /> and sewage collection, treatment and disposal of the City (the "System")]. [Simultaneously <br /> herewith, the City is issuing its Water and Sewer Revenue [Refunding] Bonds, 2009[A][B] in the <br /> principal amount of$ .] <br /> The bonds of this issue are subject to redemption prior to their stated maturity as stated in <br /> the Approved Bid for the Bonds. <br /> The bonds of this issue are not general obligations of the City. The City hereby <br /> covenants and agrees with the owner and holder of this bond that it will keep and perform all the <br /> covenants of this bond and the Bond Ordinance. <br /> The bonds of this issue are not "private activity bonds" as such term is defined in the <br /> Internal Revenue Code of 1986, as amended (the "Code"). The bonds of this issue are not <br /> "qualified tax-exempt obligations" under Section 265(b) of the Code. <br /> The City does hereby pledge and bind itself to set aside from the Revenue Fund out of the <br /> Revenue of the System and to pay into the Revenue Bond Fund and the Reserve Account the <br /> various amounts required by the Bond Ordinance to be paid into and maintained in such Fund <br /> and account, all within the times provided by the Bond Ordinance. To the extent more <br /> particularly provided by the Bond Ordinance, the amounts so pledged to be paid from the <br /> Revenue Fund out of the Revenue of the System into the Revenue Bond Fund and the account <br /> therein shall be a lien and charge thereon equal in rank to the lien and charge upon said revenue <br /> of the Outstanding Parity Bonds and the amounts required to pay and secure the payment of any <br /> revenue bonds of the City hereafter issued on a parity with Outstanding Parity Bonds and the <br /> bonds of this issue and superior to all other liens and charges of any kind or nature except the <br /> Costs of Maintenance and Operation of the System. <br /> The City has further bound itself to maintain the System in good repair, working order <br /> and condition, to operate the same in an efficient manner and at a reasonable cost, and to <br /> JI <br /> l <br /> -57- P:120287_CMW120287_880 03125/09 <br />