Ordinance 1029-84 - Laserfiche WebLink

Company, Seattle, Washington, of such call at least ten days prior to the call date . The Notes shall not be subject to redemption prior to their maturity date. Both principal of and interest on the Notes shall be payable solely out of the "Local Improvement Fund, District No . 709, " from the proceeds of local improvement district bonds authorized to be issued by Ordinance No . 812-81, as amended by Ordinance No . 940-83 , or other short- term obligations to be deposited in such fund and/or prepaid special benefit assessments deposited in such fund, and from the Local Improvement Guaranty Fund of the City, and shall be pay- able in lawful money of the United States of America at the office of the City Treasurer in Everett, Washington, or at either fiscal agency of the State of Washington in Seattle, Washington, or New York, New York . The City Council declares and finds that the fixing of the above interest rate is in the best interests of the City. Section 3 . The Notes shall be printed or lithographed on good bond paper or may be in typewritten or multicopied form in a form consistent with this ordinance and state law. The Notes shall be signed by the Mayor and City Clerk, one of whose signa- ture may be a facsimile, and shall have the seal of the City affixed thereto or printed thereon. Section 4 . The City covenants that it will spend the proceeds of the Notes with due diligence to completion of the purpose specified herein and will make no use of the proceeds of the Notes or other funds of the City at any time during the term of the Notes which will cause the Notes to be arbitrage obliga- tions within the meaning of Section 103 (c) of the United States Internal Revenue Code of 1954 , as amended, and the applicable regulations promulgated thereunder . Section 5 . Harper , McLean & Company, Seattle, Washington, has submitted an offer to purchase the Notes at a price of - 4 -