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318-377 1991 300, 000 11 . 70% <br /> 378-443 1992 330, 000 12 . 00% <br /> 444-516 1993 365, 000 12 . 10% <br /> Term Bonds <br /> 517-1714 2002 5, 990, 000 13 . 00% <br /> Both principal of and interest on the Bonds shall be payable <br /> in lawful money of the United States of America at the office of <br /> the Treasurer of the City in Everett, Washington, or, at the <br /> option of the holder, at either of the fiscal agencies of the <br /> State of Washington in the cities of Seattle, Washington and New <br /> York, New York. The Bonds shall be obligations only of the <br /> Revenue Bond Fund and shall be payable and secured as provided <br /> herein. The Bonds shall not be general obligations of the City. <br /> Section 4. Redemption Prior to Maturity. The City hereby <br /> reserves the right to redeem the outstanding Bonds maturing on <br /> July 1, 1993, in whole, or in part in inverse numerical order, on <br /> July 1, 1992 and January 1, 1993, at par. <br /> The City shall redeem the Term Bonds numbered 517-1714 at <br /> par, in part by lot, in the following amounts and at the following <br /> times: <br /> Call Date Amounts <br /> July 1, 1994 $ 405, 000 <br /> July 1, 1995 455, 000 <br /> July 1, 1996 505, 000 <br /> July 1, 1997 565, 000 <br /> July 1, 1998 635, 000 <br /> July 1, 1999 710, 000 <br /> July 1, 2000 800, 000 <br /> July 1, 2001 900, 000 <br /> July 1, 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 /> -7- BD338 81/12/22 <br />