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that end, the provisions of this section may be modified or eliminated without any requirement <br />for formal amendment thereof upon receipt of an opinion of the City's bond counsel that such <br />modification or elimination will not adversely affect the tax exemption of interest on any Bonds. <br />Section 12. Form of Bonds. The Bonds shall be in substantially the following form: <br />NO. <br />Interest Rate: <br />Registered Owner: <br />Principal Amount: <br />UNITED STATES OF AMERICA <br />STATE OF WASHINGTON <br />CITY OF EVERETT <br />WATER AND SEWER REVENUE BOND, 2015 <br />CEDE & Co. <br />Maturity Date: <br />E.1 <br />CUSIP No. <br />AND NO/DOLLARS <br />THE CITY OF EVERETT, a municipal corporation organized and existing under and by <br />virtue of the laws of the State of Washington (the "City"), promises to pay to the Registered <br />Owner identified above, or registered assigns, on the Maturity Date identified above, solely from <br />the special fund of the City known as the "Fund 401 — Public Works -Utilities — Bond <br />Redemption Subaccount" (the "Revenue Bond Fund") the Principal Amount indicated above and <br />to pay interest thereon from the Revenue Bond Fund from , 2015, or the most <br />recent date to which interest has been paid or duly provided for or until payment of this bond at <br />the Interest Rate set forth above, payable on December 1, 2015, and semiannually thereafter on <br />the first days of each June and December. <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 />-49- P \20287 CMVV\20287 B32 09/09/15 <br />