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ORDINANCE NO. (800- qt <br /> AN ORDINANCE of the City of Everett, Washington, <br /> authorizing' the revision of investments <br /> purchased pursuant to Ordinances 1139-85 and <br /> 1433-88 to provide for the payment of the <br /> principal of and interest on certain <br /> outstanding Water and Sewer Revenue and <br /> Refunding Bonds of the City. <br /> WHEREAS, the City of Everett, Washington (the "City") , by <br /> Ordinance No. 1139-85 authorized the issuance of $46,730, 000 <br /> principal amount of its Water and Sewer Revenue Refunding Bonds, <br /> 1985 (the "1985 Bonds") for the purpose of providing funds <br /> required to advance refund certain outstanding bonds of the City; <br /> and <br /> WHEREAS, the City, by Ordinance No. 143--88 authorized the <br /> issuance of $41,945, 000 principal amount of its Water and Sewer <br /> Revenue and Refunding Bonds, 1988 (the "1988 Bonds") for the <br /> purpose of providing funds required to advance refund certain <br /> outstanding bonds of the City; and <br /> WHEREAS, Section 10 of Ordinance No. 1139-85 and Section 14 <br /> of Ordinance No. 1433-88 provide that the City may set aside in a <br /> special account certain Government Obligations (as hereinafter <br /> defined) , sufficient in amount to provide funds to pay, when due, <br /> the interest, principal and premium, if any, on part or all of <br /> the Defeased Bonds (as hereinafter defined) advance refunded by <br /> the 1985 Bonds and the 1988 Bonds and to redeem and retire such <br /> Defeased Bonds as provided in such ordinances; and <br />