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annual interest then due on its general refunding bond dated
July 1, 1911, Ho. , provided that this coupon is
subject to the terms and conditions of the bond to which it
is annexed as modified as to date of maturity and rate of
interest by an agreement between said City of Fort Townsend
and the owner of this bond pursuant to Ordinance Ido.
of said City.
CITY OF PORT 'TMUSEND
Mayor
Attest:
City Clerk
Section 3: There shall be stamped on each of said bonds the
following words:
"Maturity of this bond has been extended to January 1,
19 , and the rate of interest thereon reduced to
4j% per annul, payable semi-annually in accordance
with the terms of the extension agreement entered into
between the owner hereof and the City of Port Townsend
pursuant to Ordinance No. of said city."
Section 4: There shall be levied each year a tax upon all tax-
able property situate within said City of Port 'Townsend sufficient in
amount to pay the principal and interest of said bonds as the same accrue,
and the full faith and credit of said city is pledged to the levy and
collection of said tax and the payment of the principal and interest of
said bonds.
Section 5. The Mayor and City Clerk are hereby authorized and
directed to enter into an agreement with the owner of said bonds in sub-
stantially the form hereto attached, marled Exhibit "A", and are hereby
authorized to take any and all action necessary to carry out the terms
of said agreement.
Section 6: This ordinance shall be published once in the Port
Townsend Leader, to be in force and take effect as provided by law.