Ordinance 831-81 - Laserfiche WebLink

Project 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 Interim Financing Bonds, 1982, " shall be dated January 1, 1982, shall be in coupon form in the denomination of $5, 000 each, or in registered form in denominations of $5, 000 or multiples of $5, 000, shall bear interest at an annual rate of 10. 50 percent, payable January 1, 1983 and semiannually thereafter on the first days of each July and January, and shall be numbered and mature on July 1, 1984. Both principal of and interest on the Bonds shall be payable in lawful money of the United States of America at the office of the Treasurer of the City in Everett, Washington, or, at the option of the holder, at either of the fiscal agencies of the State of Washington in the cities of Seattle, Washington and New York, New York. The Bonds shall be obligations only of the Revenue Interim Financing Bond Fund and shall be payable and secured as provided herein. The Bonds shall not be general obligations of the City. Section 4. Registration of Bonds. Title to any Bond, unless such Bond is fully registered in the manner hereinafter provided, and to any interest coupon shall pass by delivery. The City shall maintain books for the registration and for the transfer of Bonds. At the option of the holder, any Bond may be registered as to principal alone or as to both principal and interest on the registration books of the City upon presentation thereof to the Director of Administration and Finance of the City who shall make notation of such registration thereon. No transfer of any Bond so registered shall be valid unless made on said books at the request of the registered owner or his duly authorized agent in writing. Such transfer may be to bearer and thereby transferability by delivery shall be restored, subject, however, to successive registrations and transfers as before. The principal of any Bond -6- BD339 81/12/22