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No. 694 of acquiring, constructing, and installing the improvements <br /> made therein plus all costs incidental thereto, the City shall <br /> now issue bonds of said local improvement district in the principal <br /> sum of $86,713 .77 . <br /> The bonds shall be dated March 1, 1974 , shall be in the <br /> denomination of $1,000 each, except for Bond No. 1 which shall be <br /> in the amount of $713 . 77, shall be numbered from 1 to 87 , inclusive, <br /> shall bear interest at the rate of 6. 50% per annum payable annually <br /> on the 1st day of March of each year, and shall mature on March <br /> 1, 1991. Said bonds shall be payable at the office of the City <br /> Treasurer in Everett, Washington, in lawful money of the United <br /> States of America. <br /> Notice of any intended redemption of any of such bonds <br /> prior to maturity shall be given by the City Treasurer by one <br /> publication thereof in the official City newspaper, if one has <br /> been selected, but if one has not been selected, then by one <br /> publication thereof in any newspaper of general circulation in <br /> the City, not more than 20 nor less than 10 days prior to said <br /> redemption date. <br /> Section 2 . Said bonds shall be in substantially the <br /> following form: <br /> UNITED STATES OF AMERICA <br /> NO. $1, 000. 00 <br /> ($713.77) <br /> STATE OF WASHINGTON <br /> CITY OF EVERETT <br /> LOCAL IMPROVEMENT DISTRICT NO. 694 <br /> N.B. Neither the holder nor the owner of this <br /> bond shall have any claim therefor against the <br /> City of Everett, except for payment from the <br /> special assessments made for the improvment for <br /> which this bond was issued, and except as against <br /> the local improvement guaranty fund of the city, <br /> and the city shall not be liable to the holder <br /> or owner of this bond for any loss to the guaranty <br /> - 2 - <br />