Ordinance 2870-05 - Laserfiche WebLink

City shall issue and sell its water and sewer revenue bonds in the aggregate principal amount of $35,000,000 (the "Bonds"). (c) Bond Details. The City shall now issue and sell the Bonds in the amount of not to exceed $35,000,000. The Bonds shall be designated as the "City of Everett, Washington Water and Sewer Revenue Bonds, 2005" (the "Bonds"); shall be dated as of their date of issue; shall be fully registered as to both principal and interest; shall be in the denomination of $5,000 each, or any integral multiple thereof, provided that no Bond shall represent more than one maturity; shall be numbered separately in such manner and with any additional designation as the Bond Registrar deems necessary for purposes of identification; and shall bear interest from their date payable semiannually on the first days of each June and December, commencing on December 1, 2005, and shall mature on December 1 in the years and principal amounts set forth and approved in the Bond Purchase Contract executed by the Chief Financial Officer pursuant to Section 15 of this ordinance. The Bonds shall be obligations only of the Revenue Bond Fund and shall be payable and secured as provided herein. The Bonds shall not be general obligations of the City. Section 4. Registration Exchange and Payments. (a) Bond Registrar/Bond Register. The City hereby specifies and adopts the system of registration approved by the Washington State Finance Committee from time to time through the appointment of state fiscal agencies. The City shall cause a bond register to be maintained by the Bond Registrar. So long as any Bonds remain outstanding, the Bond Registrar shall make all necessary provisions to permit the exchange or registration or transfer of Bonds at its principal corporate trust office. The Bond Registrar may be removed at any time at the option of the Chief Financial Officer upon prior notice to the Bond Registrar and a successor Bond -14- P:\CMW\CMW6WH 09/06/05