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AN ORDITIANCR authorizixrm�, and dirocting the, issue of coupon
bonds of Local Improvement District No.5.
The City Council of the City of Port, Townsend do ordain as
follows:
Section 1. That the mayor and city clerk are hereby authorized
and directed to issue and deliver according to law and in the us-
ual form fifty-four coupon bonds of Local. Improvement District No.5
in said city, fifty -throe of which said bonds shall be in the denom-
inatigm of one hundred dollars each and the other of said bonds in
the denomination of oighty-eight dollars and thirty-seven cents.
The said bonds shall be dated December 11 1911, and shall rot be
issued and delivered before said date. They shall be made payable
to Todd & Coates or bearer out of the Local Improvement Fund,
District No, 5, on or before ton years after, date with interest at
the rate of seven por cent per annum, interest payable annually.
The said bonds and the interest coupons shall be executed as re-
quirod by law and when so oxocutod shall be delivered to the treas-
urer for registration and after such registration shall be delivered
by the treasurer to the firm, of Todd & Coates as.part payment of the
contract price for the construction of said Local Improvement
District No. 5.
Sec.2. This ordinance shall he published once in the Daily
Leader and take effect and be in force from and after five days
after such publication.
Passed by tho.City Council Nov. 21, 1911.
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Approved by the Mayor Novernbor 9-Z _1911.
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