Ordinance 922-83 - Laserfiche WebLink

issued by Ordinance No. 887-82 to "oe 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 payable in lawful money of the United States of America at the office of the City Treasurer or , at the option of the holder , 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, lithographed or typed on good bond paper in a form consistent with this ordi- nance and state law. The notes shall be signed by the Mayor , attested oy the City Clerk , and shall have the seal of the City affixed thereto. Section 4. Seattle-First National Bank of Seattle, Washington, has submitted an offer to purchase the note at a price of par . The City Council, deeming that it is in the best interests of the City that such offer be accepted, accepts the same. The City shall furnish the printed or typewritten notes and the approving legal opinion of Roberts & Shefelman, munici- pal bond counsel of Seattle, Washington, at the City's expense. Bond counsel shall not be required to review nor express any opinion concerning the completeness or accuracy of any official statement, offering circular or other sales material issued or used in connection with the notes, and bond counsel 's opinion shall so state. The notes shall immediately upon their execution be delivered to Seattle-First National Bank, Seattle, Washington, upon payment therefor in accordance with such offer . The principal proceeds received from the sale of the notes shall be paid into the "Local Improvement Fund, District No. 711, " and used to pay the costs of carrying out the improvements - 4 -