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• <br /> used immediately to redeem and retire all outstanding warrants of <br /> the City issued to pay any of the costs of acquiring, constructing <br /> and installing the improvements constructed in the Phase I area of <br /> Local Improvement District No. 692 or for repaying any advances or <br /> loans made from any other funds of the City for such purposes and <br /> for paying all other costs incidental to Local Improvement District <br /> No. 692. The balance of such moneys , if any, shall be deposited <br /> in Local Improvement Fund No. 692 and shall be used to pay the <br /> principal of and interest on the Bonds as hereinbefore provided . <br /> Section 5 . The action of the Council heretofore taken <br /> in accepting the offer of Wm. P. Harper & Son & Company to purchase <br /> the bonds at par plus accrued interest to date of delivery and under <br /> the terms thereof as set forth herein is hereby confirmed. <br /> Section 6. Because it is necessary to stop the interest <br /> accruing on the obligations of the City issued to pay the costs of <br /> this improvement as soon as possible, an emergency is hereby de- <br /> clared to exist, and it is hereby found necessary for the public <br /> health, safety and property that this ordinance shall become effec- <br /> tive upon its passage , second reading and validation. <br /> PASSED by the City Council of the City of Everett at a <br /> regular meeting of said Council held this 15th day of August, 1973 , <br /> and approved by the Mayor on said date. <br /> CITY OFrERETT, WASHINNGGTOON <br /> By <br /> yor <br /> ATT 4 <br /> Deputy City Clerk Passed: - /S 73 <br /> Approved as/to /Form: Valid: 2C -73 <br /> �t <br /> Published : .;\ - 7.3 <br /> CI / <br /> At orney <br /> 6 <br />