HomeMy WebLinkAbout01073payment of all prior charges there shall be placed in such special
fund a sum sufficient in amount to discharge, and be used for no
other purpose than the discharge of, principal and interest of all
of said bonds issued hereunder and then remaining unpaid, and not
in any event to sell such municipal water works system or any sub-
stantial. part thereof for a sum less than enough to discharge and
pay the bonds herein authorized and the interest thereon.
The City of fort Tovmsend further binds itself to estab-
lish from time to time and maintain such rates for crater as Trill
provide sufficient revenues to permit the payment of said sums into
said special fund, which said city has pledged to be set aside for
the payment of principal and interest as herein provided, to be
applied to the payment of the principal and interest of the bonds
herein authorized, until said bonds shall have been paid in full,
and in addition thereto all costs of operation and maintenance and
all warrants, issued against the revenues of said system prior to
the date of this ordinance.
Section 6. The form of said bonds and coupons shall
be substantially as follows:
UNITED STATES OF AIuERICA
STATE OF CIASHINGTON, COUNTY OF M ON, CITY OF PORT TOViN3'
ITo. a
AMNICIPAI, VIATER ViORKS EXTENSION BOND, 1927.
KNOV! AIM MI BY THESE PRES ENTS: That the City of fort
Townsend, in the County of Jefferson, State of VlashinGton, is just-
ly indebted and for value received hereby promises to pay to the
bearer, or, if registered, to the registered holder hereof, on the
day of
on at the rate of
annually, on the first days of
19^� the principal sum of
Dollars, with interest there-
per cent per annum, payable semi -
and
6.