Ordinance 831-81 - Laserfiche WebLink

The City has further bound itself to maintain the System in good repair, working order and condition, to operate the same in an efficient manner and at a reasonable cost, and to fix, maintain and collect rates and charges for as long as any of the bonds of this issue are outstanding that will make available, for the payment of the principal thereof and interest thereon as the same shall become due, Net Revenue (as defined in the Bond Ordinance) in an amount which, together with Assessment Income (as defined in the Bond Ordinance) will be equal to at least 1.25 times the maximum amount required to be paid out of the Revenue Bond Fund (as defined in the Bond Ordinance) and the Revenue Interim Financ- ing Bond Fund in any year hereafter to pay the principal of and interest on all of such bonds and any Parity Bonds then outstand- ing. The pledge of Revenue of the System and other obligations of the City under the Bond Ordinance may be discharged at or prior to the maturity or redemption of the bonds of this issue upon the making of provisions for the payment thereof on the terms and conditions set forth in the Bond Ordinance. Reference to the Bond Ordinance and any and all modifications and amendments thereof is made for a description of the nature and extent of the security for the bonds of this issue, the funds or revenues pledged, and the terms and conditions upon which such bonds are issued. This bond, unless registered other than to bearer, is a fully negotiable instrument, transferable by delivery. It is hereby certified and declared that this bond and the bonds of this issue are issued pursuant to and in strict com- pliance with the Constitution and laws of the State of Washington and ordinances of the City, and that all acts, conditions and things required to be done precedent to and in the issuance of this bond have happened, been done and performed. IN WITNESS WHEREOF, the City has caused this bond to be executed in its name by the manual signature of the Mayor, to be attested by the facsimile signature of the City Clerk, the corpo- rate seal of the City to be impressed or imprinted hereon, and the interest coupons attached hereto to be signed with the facsimile signatures of said officials, this first day of January, 1982 . CITY OF EVERETT, WASHINGTON By (manual signature) Mayor ATTEST: (facsimile signature) City Clerk The interest coupons attached to the Bonds shall be in sub- stantially the following form: -21- BD339 81/12/22