HomeMy WebLinkAbout01781Every successor trustee appointed hereunder shall
execute, acknowledge and deliver to its predecessor and also
to said City Council an instrument in writing accepting such
appointment hereunder. Thereupon such successor trustee,
without any further act, shall become fully vested with all
the rights, immunities, powers, trusts, duties and obligations
of its predecessor. Such predecessor shall, on the written
request of the City Council, execute and deliver an instrument
transferring to such successor trustee all the rights, powers
and trusts of such predecessor hereunder. Should any instrument
in writing from said City Council be required by any successor
trustee for more fully and certainly vesting in such trustee
the rights, powers and duties hereby vested in the predecessor
trustee, such an instrument shall, on request, be executed,
acknowledged and delivered by.said City Council.
Section 26. The provisions of this ordinance shall
constitute a contract between the city, the Trustee and the
holders of the Bonds upon the acceptance of this ordinance by
the Trustee and the issuance and delivery of the Bonds.
Section 27. The action of the City Council on
February 21, 1956 in accepting the written offer of even
date of Blyth & Co., Inc. of Seattle, Washington, and Associates
to purchase the Bonds under the terms, conditions and covenants
therefor as set forth herein and at the price of $98.32 per
$100 par value is hereby in all respects ratified and confirmed.
Section 28. If any section, paragraph, clause or
provision of this ordinance shall be held invalid, the invalidity
29.