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Section 2. Vi.e bonds hereby authorized shall be
in substantially 'tlie following form'
U1tI` IM STATESi Or A':13hICA
CIi'Y G?P PG,i`i T01','jjSL?:D
IMOt' A7.L ::1.17 }3Y '211LISE LIUIIZ?':TS that the City of
Port TownseiA, in ti,e County of Jefferson and State of Wash-
ington, acknoc:lediree to owe and for value received hereby
promisee to pay to bearer One Thousand 7"ollars lawful money
of the United ^totes of America on i;he fir: t day of July,
1931, with interest thereon fro in the hate hereof at the rate
of 5-1/2 per centum per anan.un, 1?3yable semi-annually, on the ;
first day of January and of Tuly in each year on presentation
r �
and surrender of the annexed interest coupons ac t hey sever-
ally become due. Both c,rircipal rind interest of this bond
are hereby made payable at the Fiscal Agency of the State of
Vaehington in the City of New York, State of New York.
This bond is redea:raable at the option of the City
of Port Townsend at any -time after the first day of July,
1921.
This board is one of a series of like tenor, issued
for the purpose of refunding at a lower rate of interest cer-
tsin outstanding bonded indebtedness of the City of Port
Townsend under the authority of an Act of the legislature of
the State of Washington entitled "An Act to authorize counties;
cities and to.,;n_, to issue bonds to fund their outstanding in-
debtedness e:nd to provide for the levy and collection of a
specific tax to pay the :.rincipal aandintorest on stitch bonds
and declsrinf, an emerr;ency ", avp;aroved '.'.arch 22, 1,995, as
amended, end of a:n ordinance duly passed by the City Council
of said City.