Laserfiche WebLink
issue of bonds designated "City of Everett, Water and Sewer <br /> Revenue and Refunding Bonds, 1992" (the "1992 Bonds" ) issued in <br /> the aggregate principal amount of $ ; and <br /> WHEREAS, the City pursuant to the Bond Ordinance has duly <br /> authorized the execution and delivery of this Agreement and the <br /> irrevocable pledge of the moneys and obligations to be deposited <br /> with the Refunding Trustee hereunder to the payment of the <br /> Refunded 1988 Bonds; <br /> NOW, THEREFORE, in consideration of the mutual covenants <br /> hereinafter contained, and for the benefit of the owners and <br /> holders of the Refunded 1988 Bonds, the parties hereto covenant <br /> and agree as follows : <br /> Section 1 . Definitions . Capitalized terms used herein <br /> shall have the same meanings set forth in Section 1 of the Bond <br /> Ordinance, unless the context clearly indicates otherwise . <br /> Section 2 . Provisions for Refunding the Refunded 1988 <br /> Bonds . The City agrees, simultaneously with the delivery of the <br /> 1992 Bonds, to irrevocably deposit with the Refunding Trustee <br /> $ of the proceeds thereof for credit to the 1992 <br /> Advance Refunding Fund, together with $ from the <br /> Revenue Fund. <br /> The Refunding Trustee shall immediately apply such amounts <br /> to purchase, on behalf of the City, the direct noncallable <br /> obligations described in Appendix A-1 attached hereto (collec- <br /> tively, the "Acquired Obligations" ) for credit to the 1992 <br /> Advance Refunding Fund, and to establish the beginning cash <br /> B-2 Fwwoo3.ooc 92roern <br />