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desirable. <br /> The City shall acquire by purchase, lease or condemnation, <br /> all property, both real and personal, or any interest therein, or <br /> rights-of-way and easements which may be found necessary to <br /> acquire, construct and install the above-described improvements. <br /> The estimated cost of this plan of additions and betterments <br /> and all costs incidental thereto, is hereby declared to be as <br /> nearly as practicable the sum of $31, 550, 000, of which $8, 570, 000 <br /> is to be provided out of the proceeds of the sale of the Bonds and <br /> $7, 430, 000 to be provided out of the proceeds of sale of interim <br /> financing bonds of the City, and the remainder from expected <br /> grants, from payment to be received pursuant to the Snohomish PUD <br /> Agreement and from other cash now or hereafter on hand and avail- <br /> able therefor. <br /> Section 3 . Issuance of the City of Everett Water and Sewer <br /> Revenue Bonds, 1982 . The City shall issue the Bonds in the <br /> principal amount of $8, 570, 000 for the purpose of providing part <br /> of the funds necessary to pay the costs of the Project and to pay <br /> the expenses incidental to the issuance of the Bonds. The Bonds <br /> shall be designated the "City of Everett Water and Sewer Revenue <br /> Bonds, 1982, " shall be dated January 1, 1982, shall be in coupon <br /> form in the denomination of $5, 000 each, shall be numbered from 1 <br /> to 1714, inclusive, shall bear interest from date of issue payable <br /> January 1, 1983, and semiannually thereafter on the first days of <br /> each July and January and mature in order of their number on <br /> July 1 of each year as follows: <br /> Interest <br /> Bond Nos. Maturity Years Amount Rate <br /> 1-28 1983 $ 140, 000 9 .25% <br /> 29-59 1984 155, 000 9 . 50% <br /> -6- BD338 81/12/22 <br />