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the holder , at either fiscal agency of the State of Washington <br /> in Seattle, Washington, or New York, New York . The City Council <br /> declares and finds that the fixing of the above maximum interest <br /> rate and index for varible rates is in the best interests of the <br /> City. <br /> Section 3 . The notes shall be printed, lithographed or <br /> typed on good bond paper in a form consistent with this ordi- <br /> nance and state law. The notes shall be signed by the Mayor , <br /> attested by the City Clerk, one of whose signatures may be a <br /> facsimile, and shall have the seal of the City affixed thereto <br /> or printed thereon. The notes may be registered at the office <br /> of the City Treasurer or either fiscal agency of the State of <br /> Washington as to both principal and interest if necessary to <br /> assure the interest thereon will be exempt from federal income <br /> taxation. <br /> Section 4 . The City shall furnish the printed or type- <br /> written notes and the approving legal opinion of Roberts & <br /> Shefelman, municipal bond counsel of Seattle, Washington, at the <br /> City' s expense . Bond counsel shall not be required to review or <br /> express any opinion concerning the completeness or accuracy of <br /> any official statement, offering circular or other sales mate- <br /> rial issued or used in connection with the notes , and bond coun- <br /> sel ' s opinion shall so state . The notes shall immediately upon <br /> their execution be delivered to the purchaser upon payment <br /> therefor in accordance with its offer accepted by the City <br /> Treasurer . <br /> The principal proceeds received from the sale of the notes <br /> shall be paid into the °Local Improvement Fund, District No . <br /> 709 , ' and used to pay the costs of carrying out the improvements <br /> - 4 - <br />