Ordinance 15-69 - Laserfiche WebLink

ORDINANCE NO. 15-69 AN ORDINANCE of the City of Everett , Washington , providing for the issuance and sale of $2 ,600 ,000 of sewer revenue bonds of the city to pay the cost of certain additions and improvements to and extensions of the sewerage system of the city , fixing the date , form, terms , maturities and covenants of said bonds , providing for the payment of the principal of and interest on said bonds out of the Everett Sewer Revenue Bond Redemption Fund created by Ordinance No. 3768 of the city , providing and adopting certain covenants and protective features safeguarding the payment of the principal of and interest on said bonds , and authorizing the sale thereof. WHEREAS , the City of Everett has heretofore made certain additions and improvements to and extensions of the system of sewerage of the city ; and WHEREAS , further plans of additions and improvements to and extensions of such system were specified and adopted by the following ordinances : Ordinance No . 4193 adopted January 3 , 1967 Ordinance No. 4300 adopted June 11 , 1968 Ordinance No. 4313 adopted September 3, 1968 Ordinance No. 4331 adopted November 13 , 1968 WHEREAS , in order to provide funds to pay part of the cost of such additions , improvements and extensions it is deemed necessary and advisable that the city now issue and sell its sewer revenue bonds in the aggregate principal sum of $2 ,600 ,000 ; and WHEREAS , the City of Everett , pursuant to Ordinance No. 3768 issued and sold $2 ,700 ,000 of sewer revenue bonds under date of September 1, 1960 , Section 11 of which ordinance provided that additional sewer revenue bonds could be issued on a parity with such bonds if certain conditions could be met ; and WHEREAS , pursuant to Ordinance No. 3955 the city issued additional sewer revenue bonds in the aggregate principal amount of $4 ,200 ,000 under date of July 1, 1963 on a parity with said September 1 , 1960 bonds ; and