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semiannually thereafter on the first days of each July and Janu- <br /> ary. Payment of the interest due on or before the maturity of <br /> this bond shall be made only upon presentation and surrender of <br /> the coupons representing such interest as the same respectively <br /> become due. <br /> Both principal of and interest on this bond are payable in <br /> lawful money of the United States of America, at the office of the <br /> Treasurer of the City in Everett, Washington, or, at the option of <br /> the holder, at either of the fiscal agencies of the State of <br /> Washington in the cities of Seattle, Washington, and New York, New <br /> York. <br /> The City has reserved the right to redeem the outstanding <br /> bonds maturing on July 1, 1993, in whole, or in part in inverse <br /> numerical order, on July 1, 1992 and January 1, 1993, at par plus <br /> accrued interest to the date of redemption. <br /> Bonds numbered 517 to 1714 inclusive, shall be redeemed in <br /> part by lot at par, on July 1, 1994 , and each July 1 thereafter <br /> in accordance with the following schedule: <br /> Year Amount <br /> 1994 $ 405, 000 <br /> 1995 405, 000 <br /> 1996 505, 000 <br /> 1997 565, 000 <br /> 1998 635, 000 <br /> 1999 710, 000 <br /> 2000 800, 000 <br /> 2001 900, 000 <br /> 2002 1, 015, 000 <br /> solely from the payments made therefor into the 2002 Sinking Fund <br /> Account. <br /> Interest on any bonds so called for redemption shall cease on <br /> such redemption date unless the same shall not be redeemed upon <br /> presentation made pursuant to such call . <br /> Notice of any such redemption shall be given by one publica- <br /> tion thereof in the official City newspaper not more than forty <br /> nor less than thirty days prior to said redemption date, and by <br /> mailing a like notice at the same time to Seattle-Northwest <br /> Securities Corporation or the successor in business thereof at its <br /> main office. In addition, such notice of redemption shall also be <br /> mailed to Moody' s Investors Service, Inc . , and to Standard & <br /> Poor' s Corporation at their main offices in New York, New York, or <br /> to the business successors of such firms, if any, at their main <br /> offices. <br /> This bond is one of an issue of seventeen hundred fourteen <br /> ( 1, 714) bonds of the City of like denomination, date and tenor <br /> except as to number, rate of interest, and date of maturity in the <br /> aggregate principal amount of $8, 570, 000. This issue of bonds is <br /> authorized by Ordinance No. 83o / of the City (herein called the <br /> -27- BD338 81/12/22 <br />