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UNITED STATES OF AMERICA <br /> NO. $5 , 000 <br /> (NO. 1) ($5 , 880 . 28) <br /> STATE OF WASHINGTON <br /> CITY OF EVERETT <br /> LOCAL IMPROVEMENT DISTRICT NO. 692 BOND <br /> The City of Everett, a municipal corporation of the <br /> State of Washington (hereinafter called the "City") , hereby <br /> promises to pay to bearer the sum of <br /> FIVE THOUSAND DOLLARS <br /> (Bond No. 1, FIVE THOUSAND EIGHT HUNDRED EIGHTY & 28/100 DOLLARS) <br /> in lawful money of the United States of America, with inter- <br /> est thereon from the date hereof at the rate of 6. 25% per <br /> annum payable annually on the first day of July of each year <br /> upon presentation and surrender to the City Treasurer of <br /> this bond and the attached interest coupons as they severally <br /> become due. This bond , both principal and interest, is <br /> payable only out of Local Improvement Fund No. 692 of the <br /> City created by Ordinance No. 116-71 of the City Council <br /> passed February 3 , 1971 , or out- of the Local Improvement <br /> Guaranty Fund of the City. <br /> This bond is one of an issue of bonds aggregating in <br /> total principal amount the sum of $125 ,880. 28 , which bonds <br /> are issued to provide the funds necessary to pay all of the <br /> costs of the improvements acquired, constructed and installed <br /> in the Phase I area of Local Improvement District No. 692. <br /> This bond is payable on or before July 1, 1985 , and is sub- <br /> ject to call by the Treasurer of the City on any annual interest <br /> payment date whenever there shall be sufficient money in <br /> 3. <br />