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Section 7. If three -fifths or more of said qualified electors
voting at said election as herein provided, shall vote in favor of the
issuance and sale of said bonds, then the proper officers of said city
shall be, and hereby are, authorized and directed to have lithographed,
engraved or printed such r.e;;otiable int�rest-bearing genes l indebtedness
coupon bonds of the City of Port Town&end in said amount of Forty-nine
Thousand Dollars (049,000.00), which bonds shall. bear interest as of the
date of their issuance at a rate of not to exceed six per cent per annum,
payable semi-annually or annually, and shall be numbered from one upward
consecutively. The various annual maturities of said bonds shall com-
mence with the second year after the date of issuance of such bonds and
shall (as nearly as practicable) be in such amounts as still, together
with interest on all outstanding bonds of said series, be met by an equal
annual tax levy for the payment of said bonds and interest, provided,
however, that only bond number oneof said issue shall be of a denomination
of other than a multiple of One Hundred Dollars U400.00), and provided
further, that none of said bonds shall be in a sum in excess of One Thou-
sand Dollars ($1000.00) and provided further that said bonds shall be
known as "Port Townsend General Indebtedness 1931 Plater Bonds"; that with-
in such limits the bonds shall be in such amounts and the various matur-
ities thereof shall be of such dates as the City Council shall by ordi-
nance determine; that the Mayor and City Clerk be, and hereby are, au-
thorized to execute the same in the name of and under the corporate'seal
of the City of Port Townsend; that all of'said semi-annual or annual pay-
ments of interest shall be represented by interest coupons attached to
said bonds and made a part thereof, which interest coupons shall be
signed by the ':ayor and at',.:etsd by the City Cl=-rh; provided in lieu
of such signing a facsimile of the signature of the ?'aycr and City Clerk
may be printed or engraved on said interest coupons. All of said iionds
and interest and interest coupons shall be payable in g,!M coin of the
United States of America , of the present standard weight and fineness,