HomeMy WebLinkAbout01756Notice of any such intended redemption shall be given
by the city by one publication thereof in the official city newspaper
and in a newspaper or financial journal of general circulation within
the city of Seattle, Washington, each such publication to be not
more than forty nor less than thirty days prior to such redemption
date, and by mailing a like notice at the same time to Blyth & Co.,
Inc. at its office in Seattle, Washington or at its main office if
it does not have a Seattle office, or to the successor in business,
if any, of said corporation at its Seattle office or, if it does
not have a Seattle office, at its main office.
Interest on any Bond or Bonds so called for redemption
shall cease on such redemption date unless such Bond or Bonds are
not redeemed upon presentation made pursuant to such call.
Section 4. That for the purpose of securing the payment
of the principal of and interest on the Bonds and to provide the
faithful performance of the covenants contained herein and in the
Lease for the benefit of the owners and holders of the Bonds, The
Pacific National Bank of Seattle, Seattle, Washington, is hereby
designated as Trustee hereunder with the powers and duties herein-
after set forth and with no liability in connection with any action
or omission to act hereunder except for its own negligence or
willful breach of trust.
The proceeds of the sale of the Bonds pending expenditure
thereof as herein provided and the "1956 Bond Redemption Fund"
hereinafter created, as well as all moneys which are or should in
accordance..with the terms hereof be paid into the 1956 Bond Re-
demption Fund, are hereby pledged to the Trustee and its successors
in trust for the purpose of equally securing the payment of both
5.