HomeMy WebLinkAbout01779therein; and every power and remedy given by this ordinance to
the Trustee or to the holders of the Bonds or coupons attached
thereto may be exercised from time to time and as often as may
be deemed expedient by the Trustee or by the holders of such
Bonds or coupons.
Section 23. If at any time before the occurrence of
any default in the payment of the principal or interest of the
Bonds there shall be deposited with the Trustee such sum as,
together with all moneys then held by the Trustee and available
for that purpose, constitutes a sufficient sum to pay the whole
amount of principal, premium if any, and interest due and payable
on the Bonds and coupons then outstanding to the first date
said Bonds may be redeemed, and there shall also be paid to the
Trustee all the sums payable hereunder including the proper
charges and expenses of the Trustee, and the city shall have
well and truly kept and performed all of the things required
to be kept and performed by it according to the true intent of
this ordinance, then these presents and the rights hereby granted
shall cease, terminate and be void, and thereupon the Trustee
shall proceed in the manner provided herein to pay and redeem
all of said Bonds then outstanding.
Section 24. This ordinance and the Bonds and
coupons are and shall always be construed to be contracts made
under and pursuant to the laws of the State of Washington in
force at the time of the date of the execution hereof, and all
the terms, covenants, conditions and provisions hereof shall
be construed according to such laws; provided, however, that
any constitutional or statutory provision enacted after the
date of this ordinance which validates or makes legal any
27.