Ordinance 818-81 - Laserfiche WebLink

ti • ORDINANCE NO. AN ORDINANCE of the City of Everett, Washington authorizing the sale and issuance of water and sewer revenue bonds in the principal amount of $16, 000, 000 for the purpose of providing part of the funds required for constructing a water filtra- tion plant and making other additions and improve- ments to the water system of the City; adopting a plan for making certain of such additions and improvements; providing the covenants, terms and conditions under which such bonds and future parity bonds shall be issued, and providing for the manner of sale of such bonds. WHEREAS, the City of Everett, Washington, (the "City" ) has heretofore, by Ordinance No . 536-78, combined its water and sewer systems; and WHEREAS, Ordinances 637-79, 644-79, 660-80, 697-80, and 713-80 passed September 26, 1979, October 31, 1979, February 6, 1980, June 4, 1980, and July 23, 1980, respectively, specified and adopted plans of additions and improvements to and extensions of such water and sewer system; and WHEREAS, additional improvements to such water and sewer system are provided for in Section 2 of this Ordinance; and WHEREAS, in order to provide funds to pay the cost of those additions and improvements specified herein, it is deemed neces- sary and advisable that the City now issue and sell its water and sewer revenue bonds in the aggregate principal sum of $16, 000, 000; and WHEREAS, the City of Everett, pursuant to Ordinance No . 536-78, issued and sold $15, 400, 000 water and sewer revenue bonds under date of August 1, 1978, which ordinance provided that additional water and sewer revenue bonds could be issued on a parity with such bonds if certain conditions could be met; and WHEREAS, the City of Everett, pursuant to Ordinance No. 713-80, issued and sold $20, 000, 000 water and sewer revenue bonds under date of August 1, 1980, which ordinance provided that