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Section 4. Issuance of the City of Everett Water and Sewer Revenue Refunding Bonds, <br /> 1993. The City shall issue and sell the 1993 Bonds in the aggregate principal amount of not to <br /> exceed $34,000,000 for the purpose of refunding the Refunded 1988 Bonds, and to pay the <br /> expenses incidental to the refunding and to the issuance of the 1993 Bonds. <br /> The 1993 Bonds shall be dated November 1, 1993, shall bear interest payable January 1, <br /> 1994, and semiannually thereafter on the first days of each succeeding July and January, and shall <br /> mature on July 1 in such years and amounts, at such rates in such principal amount and with such <br /> provisions for Term Bonds and such redemption provisions as shall be fixed by resolution of the <br /> Council subsequent to final passage of this ordinance. <br /> The 1993 Bonds shall be sold as a single issue designated "City of Everett Water and <br /> Sewer Revenue Refunding Bonds, Series 1993"; shall be in the denomination of$5,000 each or <br /> any integral multiple thereof, provided that no such Bond shall represent more than one maturity; <br /> shall be fully registered as to both principal and interest; and shall be numbered separately in the <br /> manner and with any additional designation as the Bond Registrar deems necessary for purposes <br /> of identification. <br /> The fiscal agencies of the State of Washington in the cities of Seattle, Washington, and <br /> New York, New York, shall act as registrar for the 1993 Bonds (collectively, the "Bond <br /> Registrar"). The Bond Registrar shall maintain the Bond Register. Both principal of and interest <br /> on the 1993 Bonds shall be payable in lawful money of the United States of America. Interest on <br /> the 1993 Bonds shall be paid by check or draft mailed on the date such interest is due to the <br /> registered owners or nominees of such owners at the addresses appearing on the Bond Register as <br /> of the 15th day of the month preceding the interest payment date. The principal of the 1993 <br /> Bonds shall be payable upon presentation and surrender of such Bonds by the registered owners <br /> or nominees of such owners at the principal offices of either of the fiscal agencies of the State of <br /> Washington in the cities of Seattle, Washington, or New York, New York, at the option of such <br /> owners. <br /> -12- Fwwoae.ooc 93/10/26 <br />