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V ' . <br /> • <br /> City Attorney. Unless otherwise provided by ordinance relating <br /> to a specific local improvement district, the obligations thus <br /> authorized may bear a fixed rate of rates or a variable rate or <br /> rates of interest which may be based on a bank prime or the most <br /> recent prime rate of interest published in the Wall Street <br /> Journal, but in any event shall not exceed a net effective <br /> interest rate of (Z % per annum. Such short-term obligations <br /> shall be dated as of the date of their issuance and shall not be <br /> outstanding, together with any other short-term obligations <br /> issued to redeem the same, for longer than the time permitted by <br /> chapter 39 . 50 RCW. Such short-term obligations shall be <br /> registered in accordance with Ordinance No. 980-83 , as now in <br /> affect or hereafter amended, if so required in order to exempt <br /> the interest thereon from federal income taxation, and the City <br /> Treasurer may designate which short-term obligations are those <br /> described in Section 3 (d) of Ordinance No. 980-83 as <br /> "obligations not usually subject to trading. " <br /> The short-term obligations may be paid from the proceeds of <br /> local improvement district bonds or consolidated local <br /> improvement bonds, from assessment payments, from the proceeds <br /> of the issuance of other short-term obligations, or from other <br /> City funds made available for that purpose. The short-term <br /> obligations shall be drawn on the local improvement fund created <br /> for the applicable local improvement district and, unless <br /> - 2 - <br />