Ordinance 941-83 - Laserfiche WebLink

and as it may later be added 'to, extended and improved, for as long as the Bonds remain outstanding. Y. The words "Term Bonds" mean any Parity Bonds identified as such in the ordinance authorizing the issuance thereof, the payment of which is provided for by a requirement for mandatory deposits of money into a Sinking Fund Account in the Revenue Bond Fund. Section 2 . Plan of Additions to the System. The City has heretofore specified and adopted the plan for the acquisition, construction and installation of certain additions and betterments to the sewage collection and treatment facilities of the System in Section 1 of Ordinance No. 782-81. The City may make such changes in or additions to the foregoing plan as may be found necessary or desirable, as long as such changes do not substantially alter the purposes of the plan. The estimated cost of the plan of additions and betterments and all costs incidental thereto, is hereby declared to be as nearly as practicable the sum of $26, 430, 000, of which amount approximately $12, 823, 500 is to be provided out of the proceeds of the sale of the Bonds and the remainder from expected grants, contributions from the Alderwood, Mukilteo and Silver Lake Water Districts, and from other cash now or hereafter on hand and avail- able therefor. Section 3 . Issuance of the City of Everett Water and Sewer Revenue and Refunding Bonds, 1983 . The City shall issue the Bonds in the principal amount of $15, 655, 000 for the purpose of provid- ing part of the funds necessary to pay the costs of the Project, to refund the 1982 Interim Financing Bonds, and to pay the expenses incidental to the issuance of the Bonds. The Bonds shall be designated the "City of Everett Water and Sewer Revenue and Refunding Bonds, 1983, " shall be dated May 1, 1983, shall be in -7- WMD20 83/05/02