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paper of the City not more than forty (40) nor less than <br /> thirty (30) days prior to such redemption date, and by <br /> mailing a like notice at the same time to Seattle- <br /> Northwest Securities Corporation at its main office in <br /> Seattle, Washington, or to the successor in business of <br /> such firm, if any, at its main office. In addition, <br /> such notice of redemption shall also be mailed to <br /> Moody' s Investors Service, Inc . and to Standard & Poor' s <br /> Corporation at their main offices in New York, New York, <br /> or to their successors in business, if any, at their <br /> main offices, but none of such mailings shall be a <br /> condition precedent to the call of the Bonds for redemp- <br /> tion. Interest on any bonds so called for redemption <br /> shall cease on such redemption date unless the same <br /> shall not be paid in full upon presentation made pur- <br /> suant to such call . <br /> The City further reserves the right to use at any <br /> time any surplus Revenue of the System available after <br /> providing for the payments required by paragraphs First <br /> through Seventh, inclusive, of Section 5 of this ordi- <br /> nance, or other available funds, to purchase any of the <br /> Bonds in the open market for retirement only, if the <br /> same may be purchased at a price not exceeding that at <br /> which they could be called for redemption on the first <br /> succeeding date on which they may be called, plus <br /> accrued interest; provided, that Bond No. 1 may be <br /> purchased in the open market for retirement only at any <br /> time prior to maturity from prepayments of Assessments <br /> in Utility Local Improvement District No. 1 paid into <br /> the Revenue Bond Fund. <br /> * * * <br /> Section 11 . Form of Bonds. The "City of Everett <br /> Water and Sewer Revenue and Refunding Bonds, 1983" shall <br /> be in substantially the following form: <br /> UNITED STATES OF AMERICA <br /> (No. 1 ) ($1, 505, 000) <br /> No. $5, 000 <br /> STATE OF WASHINGTON <br /> CITY OF EVERETT <br /> WATER AND SEWER REVENUE AND REFUNDING BOND, 1983 <br /> The City of Everett, a municipal corpora- <br /> tion organized and existing under and by <br /> virtue of the laws of the State of Washington <br /> (herein called the "City" ) , hereby acknowl- <br /> edges itself to owe and for value received <br /> promises to pay to bearer, solely from the <br /> sources herein referred to, the principal sum <br /> of <br /> (ONE MILLION FIVE HUNDRED FIVE <br /> THOUSAND DOLLARS) <br /> FIVE THOUSAND DOLLARS <br /> -2- WMD25 83/05/17 <br />