HomeMy WebLinkAbout01074in each year, upon the presentation and uurrender of the annexed
interest coupons. Both principal and interest of this bond are
payable in gold coin of the United States of America of the pre-
sent standard of weight and fineness, at the fiscal Agency of the
State of Washington, in the City and State of ifew York, or at the
office of the City Treasurer of the City of Port Townsend, at the
option of the holder, solely out of the special fund of the City
of Tort Townsend knoem as "Mni:icipal ;later Works Extension Bond
Fund, 1927," z✓hich fund can be used for no other purpose than
the payment of principal and interest of the issue of bonds of
which this is one. The said fund has been created and the said
issue of bonds authorized by Ordinance No. , approved
1927, and ratified by the qualified -
voters of said city at a special election regularly held therein
on , 1927. Said ordinance provides for
the semi-annual payment into the said fund from the gross revenues
of the entire water works system of the City of Port Townsend,
including any additions or be:ternents to, and extensions of,
said system which.may be hereafter acquired or constructed, of
sufficient funds to meet the principal and interest of said bonds
as they fall due. The City of Port Townsend hereby covenants
with the holder of this bond that it •rill keep and perform all
the covenants and promises in the said ordinance contained, to
be by it kept and performed. The City of Port Townsend and
its corporate authorities have provided for the payment out, of
the revenues of its municipal water works system of warrants
issued prior to the authorization of this issue of bonds and,
after having so provided, do hereby irrevocably obligate and
bind the city to pay from such gross revenues into said special
fund, thirty (30) days prior to the respective dates upon which
interest, or principal and interest, of the bonds of this issue
shall become due, a sum equal to the amount of such interest,
or such principal and interest, as the case maybe, even though
7.