Ordinance 818-81 - Laserfiche WebLink

be integrated into the existing water supply and distribution facilities of the System as required to provide a fully opera- tional facility. The City may make such changes in or additions to the fore- going facility or equipment or in the construction or design of other facilities of the System as may be found necessary or desirable. The City shall acquire by purchase, lease or condemnation, all property, both real and personal, or any interest therein, or rights-of-way and easements which may be found necessary to acquire, construct and install the above-described improvements . The estimated cost of this plan of additions and betterments and all costs incidental thereto, is hereby declared to be as nearly as practicable the sum of $31, 550, 000, of which $16, 000, 000 is to be provided out of the proceeds of the sale of Bonds, and the remainder from expected grants, from payment to be received pursuant to the Snohomish PUD Agreement and from other cash now or hereafter on hand and available therefor. Section 3 . Issuance of the City of Everett Water and Sewer Revenue Bonds, 1980. The City shall issue the Bonds in the principal amount of $16, 000, 000 for the purpose of providing part of the funds necessary to pay the costs of the 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 Bonds, 1982, " shall be dated January 1, 1982, shall be in coupon form in the denomination of $5, 000 each, shall bear interest as hereafter provided by resolution of the City Council, pursuant to Section 14 hereof, payable January 1, 1983 and semiannually there- after on the first days of each July and January, and shall be numbered and mature in order of their number on July 1 of each year as follows: -6-