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ORDINANCE NO. W-f/ <br /> AN ORDINANCE of the City of Everett, Washington <br /> authorizing the issuance and sale of water and <br /> sewer revenue interim financing bonds in the <br /> principal amount of $7, 430, 000 for the purpose of <br /> providing interim financing of part of the funds <br /> required for constructing a water filtration plant <br /> and making other additions and improvements to the <br /> water system of the City; adopting a plan for <br /> making certain of such additions and improvements; <br /> providing the date, form, terms and conditions <br /> under which such bonds shall be issued, and <br /> approving the sale of such bonds; creating a <br /> special bond redemption fund for the payment of the <br /> principal of and the interest on said bonds; and <br /> providing and adopting certain covenants and <br /> protective features safeguarding the payment of the <br /> principal of and interest on said bonds. <br /> WHEREAS, the City of Everett, Washington, (the "City" ) has <br /> heretofore, by Ordinance 536-78, combined its water and sewer <br /> systems; and <br /> WHEREAS, Ordinances 637-79, 644-79, 660-80, 697-80, and <br /> 713-80 passed September 26, 1979, October 31, 1979, February 6, <br /> 1980, June 4, 1980, and July 23, 1980, respectively, specified and <br /> adopted plans of additions and improvements to and extensions of <br /> such water and sewer system; and <br /> WHEREAS, additional improvements to such water and sewer <br /> system are provided for in Section 2 of Ordinance No. -SJ; and <br /> WHEREAS, in order to provide interim financing to pay part of <br /> the cost of those additions and improvements specified in Ordi- <br /> nance No. r3o- j, it is deemed necessary and advisable that the City <br /> now issue and sell its water and sewer revenue interim financing <br /> bonds in the aggregate principal sum of $7, 430, 000; and <br /> WHEREAS, it appears to the Council of the City of Everett <br /> that it is in the best interests of the City and its inhabitants <br /> that the bonds authorized herein be issued; <br /> NOW, THEREFORE, the City of Everett does ordain: <br /> Section 1 . Definitions. As used in this ordinance, the <br /> following words shall have the following meanings: <br /> (a) The words "Additional Interim Financing Bonds" shall <br />