Ordinance 2014 - Laserfiche WebLink

ORDINANCE NO. 'NCB 4 • 1 An Ordinance providing for the issuance of twenty • - 2 year park bonds of the City of Everett in the sum of $50, 000.00 3 in accordance with the proposition submitted by Ordinance No .1877 4 to the voters of said Everett at a general election held therein 5 on Tovember,4th, 1919, and adopted by said voters at said election, 6 providing for the form and tenor of said bonds, the date thereof 7 and payment of principal and interest thereon, establishing a 8 fund for the payment of said principal and interest, ratifying 9 and confirming the sale of said bonds to Carstens & Earles, Inc- 10 orporated and John E. Price & Company, and repealing Ordinances 11 No .1889 and 2009 , 12 Whereas, at a general election held in the City of 13 Everett, State of Washington, on November,4th,1919, a proposition 14 was submitted to the voters thereof by Ordinance No .1877, and 15 more than three-fifths of the qualified electors of said city 16 voting thereat, voted in favor of the said proposition of 17 issuing 50, 000.00 in park bonds of the City of Everett, bearing 18 interest at a rate not to exceed six ( 6) percent per annum and 19 payable in twenty years ( 20) after their date of issue, now 20 therefore, 21 THE E CITY OF EVERETT DOES ORDAIN : 22 23 Section 1 : That the Mayor and City Clerk of the City 24 of Everett be and they hereby are authorized and directed to 25 issue park bonds in the sum of $50,000.00, bearing interest at 26 the rate of five and one-half ( 54) percent per annum, payable 27 semi-annually, evidenced by interest coupons, said bonds to be 28 of the denomination of $1,000.00 each and to be numbered conse- 29 cutively from 1 to 50 inclusive, to be dated Jan. 1Et1- 1927, , . 30 and all of said bonds to be payable l rth,, 1942 31 both principal and interest of said bonds to be payable at the • -1-