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shall be paid or duly provided for. Both principal
<br /> of and interest on this, bond are payable in any coin
<br /> or currency which on the respective dates of payment
<br /> of such principal and interest is legal tender for
<br /> payment of debts due the United States of America
<br /> at the office of the City Treasurer, Everett, Wash-
<br /> ington, or, at the option of the holder, at the main
<br /> office of the fiscal agency of the State of Washington
<br /> in the Borough of Manhattan, City and State of New
<br /> York, solely out of the special fund of the City known
<br /> as the "Everett Parking System Revenue Bond and Inter-
<br /> est Sinking Fund Account" created by Ordinance No.
<br /> , passed by the City Council and approved by the
<br /> Mayor on
<br /> Bonds maturing January 1, 1974 , to January 1, 1981,
<br /> inclusive, shall not be redeemed ahead of their fixed
<br /> maturities .
<br /> The City reserves the right to redeem outstanding
<br /> bonds maturing January 1 , 1982 , and thereafter prior
<br /> to the stated maturities thereof in whole, or in part
<br /> in inverse numerical order, on any interest payment
<br /> date beginning July 1, 1981, at the principal amount
<br /> thereof, plus accrued interest to date of redemption
<br /> and a premium for each bond as follows :
<br /> 3% if redeemed July 1 , 1981, to January 1, 1985, inclusive;
<br /> 2% if redeemed July 1, 1985 , to January 1, 1988 , inclusive;
<br /> 1% if redeemed July 1 , 1988 , to January 1, 1991, inclusive;
<br /> 0% if redeemed July 1 , 1991, or thereafter.
<br /> So long as any "City of Everett Parking System Revenue
<br /> Bonds , Series ( ) , " and "City of Everett Parking System
<br /> Revenue Bonds , Series ( ) , " and any subsequently issued
<br /> series of parking system revenue bonds secured by a
<br /> parity of lien on the revenues of the Parking System
<br /> are outstanding, the calls of such bonds shall be
<br /> applied to each series of bonds on an equal prorata
<br /> basis (reflecting the proportion of the original amount
<br /> of each series of bonds outstanding at the time of such
<br /> call) , and the call of bonds of this series shall be in
<br /> accordance with the call provisions above set forth;
<br /> provided, however, that the City shall have the right
<br /> to call, subject to the call provisions of the
<br /> respective bond series , any or all outstanding bonds
<br /> which may be called at par prior to calling any bonds
<br /> that are callable at a premium.
<br /> So long as only the bonds of this series , the
<br /> outstanding Series ( ) and Series ( ) bonds are
<br /> outstanding, each $20 ,000 . 00 redemption of bonds shall
<br /> consist of $5 , 000 . 00 of Series A Bonds , $5 ,000 .00 of
<br /> Series B Bonds and $10 ,000 .00 of Series C Bonds .
<br /> Notice of any intended redemption prior to stated
<br /> maturity dates shall be mailed by registered mail to
<br /> the registered owners of the bonds to be redeemed at
<br /> their addresses appearing on the registry book at least
<br /> thirty (30) days prior to the redemption date and,
<br /> unless all of the bonds to be redeemed are registered
<br /> bonds , it shall be published once in a financial journal
<br /> published in the English language and of general
<br /> circulation in the City of New York, New York, such
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