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OIWII;tUXLL 110. 1632
AN ORDIITANCE of the City of Port Townsend,
Washington, amending Section 4 of Ordinance
No. 1060, passed and approved March 5, 1957.
BE IT ORDAINLD by the Council of the City of Port
Townsend, Washington, as follows:
Section 1. Section 4- of Ordinance No. 1330 of the city,
passed and approved March 5, 19572 is hereby amended to read as
follows:
Section 4. The City does hereby adopt as an integral part
of the plan for acquisition, construction and installation of the
additions and improvements to its water system authorized herein,
that to provide the funds necessary to pay the cost thereof it shall
issue its ester revenue bonds (herein called the "Bonds") in the
principal sum of y;100,000. The Bonds shall be dated April 10 1957,
shall be in denominations of y�1,000 each, shall bear interest payable
semi-annually on the first days of April and October of each year and
shall be numbered and mature in order of their number as follows:
Bond Nos.
Maturity
Date
Amount
Interest Rate
1-10
April
12
1958
y?102000
3'yp
11-20
April
12
1959
10,000
37,
21-30
April
1,
1960
102000
30
31-40
April
12
1961
101000
31�0
41-51
April
1,
1962
11,000
3-3/4%
52-62
April
1,
1963
11,000
3-3/4%
63-74
April
12
1964
12,000
3-3/41,T.'
75-87
April
1,
1965
139000
3-3/4%
88-100
April
11
1966
16,000
3-3/49%
Both principal of and interest on the Bonds shall be payable
in lawful money of the United States of America at the office of the
City Treasurer in Port Townsend, Washington, and shall be obligations
only of the special Boni Redemption Fund of the City created by this
ordinance.
Section 2. This ordinance shall become effective five days
from and after its passage, approval and publication as required by
law.