The Lynden tribune. [volume] (Lynden, Wash.) 1908-current, 1914-04-23
prior to the date of the delinquency of
such installment.
Special Fund.

prior to the date of the delinquency o
such installment.
Sec. 2. The ordinance confirming am
assessment roll shall also create spe
cial fund to be called the Local I'm
provement Fund, District No..........-.,.,;,
into which shall be placed all sums pait
on account of such assessments. inelud
ing all interest and penalty thereon
and in event of sale of bonds by th'
est on bonds issued for such improve
ment.
Issuance Of Bonds: Coupons.
Sec. 10. At the expiration OF thirty
days after date of first publication OF
the Treasurer's notice referred to II
Section of this Ordinance the Town
Treasurer shall report to the Towr
Clerk the total amount OF the assess
ment, the total amount paid to him &c
redeem any lots, tracts. parcels OF lane
or other property from the assessment
levied thereon and the total amount un-
paid on such assessment; whereupon
the Mayor and Clerk shall issue the
bonds on the local improvement district
established by the ordinance proV1d-
ing for such Improvement in any amour,
equal to the amount remaining unpaio
on said assessment roll as shown by
such report. The bonds herein provided
for shall not be issued prior to twenty
days after the expiration of the thirty
days above mentioned. Such bonds shall
Dollars $4,000 each. except bonds num-
bered one. which shall be in an amount
not to exceed Four Hundred $4,000 Dol.
lars; provided that the Town Counci
may, in the ordinance confirming the
assessment roll. designate any differen,
denomination for such bonds.
Such bonds shall be numbered from
One % upwards consecutively. and
each bond and coupon be signed by the
Mayor and attested by the Town Clerk
Provided. however. that said coupon
may. instead of being so signed. have
printed thereon the fac-simile of the sig
natures of said officers. and each bono
shall have the seal of the Town i'm
pressed thereon and shall REFER TO tn
Improvement to pay for which the same
shall be issued and to the ordinance or
Terms Of Bonds: Interest.
Sec. II. Such bonds by their terms
shall be made payable on or before c
tote not to exceed ten uO) years from
and after the date of the issue of suci
bonds. which date may be nxed by res
olution or may be fixed by the ordinance
bonds shall bear interest at tine rate
provided by the ordinance ordering the
Improvement but not exceeding eigh
per cent tsH) per annum. such interes
to be payable annually. Each bond shall
have attached thereto interest coupon:
for each interest payment.
Form Of Bonds.
Sec. II. All bonds issued in pursu
anee of the provisions of this ordinance
shall be in substantially the followin.
form:
Local Improvement Bond. Distric
No..........of the Town of Lynden, Stat
of Washington.
N B.-This bond is issued by virtu,
of the provisions OF an act of the Legis
iature of the State of Washington, en-
titled An act relating to local improve
ments in cities and towns and repealins
certain acts and parts or acts" APPROX
ed March II, 1911, Section 52 of which
reads as follows, to-wit
| owner of any bond issued under the au
thority of this act shall have any ciain
therefor against the city by which thu
same is issued. except from the specia
for which such bond is issued. but hi.
| remedy in case of non-payment shall
be confined to the enforcement of sucl
| assessment A copy of this section shall
on each bond so issued.
..The Town of Lynden, municipal
corporation of the State of Washington
hereby promises to pay to,.,,.,,'...,.,,, o.
of the United States, with interest there
on at tine rate ", c ee th per ram am
established by Ordinance No...-....-.... o
said Town. and known as Local I'm
provement Fund District No.........;......
and not otherwise. Both principal ant
interest pHNaDle at tue once VI tHt loWI
Treasurer of said town.
"A coupon is hereto attached for eacl
fnstallment of interest to accrue hereo'
and said interest shall be paid only oi
presentation and surrender of such cou
pons to the Town Treasurer, but in cas-
this bond is called for payment befor'
| its maturity, each and every coupon rep
resenting interest not accrued at I'll,
call, shall be void. This bond is payable
before the.-............day OF, ...-....-..
| a.. and is subject to call by TIN
Town Treasurer of said Town whenevr
there shall be sufficient money in sal,
! Local Improvement fund to pay the sam,
and all unpaid bonds of the series o
which this bond is one. which are prio
to this bond in numerical order, owe
and above sufficient for the payment o
interest on all unpaid bonds of SAFE
series. The Town Council of said Tow
as the agent of said Local improvement
District No........., established by Ordi
! nance No.....,...-.-,....h has caused this bono
to be issued in the name of said Town
as the bond of said local improvement
district the bond or the proceeds there
OF to be applied in part payment of 81
much of the cost and expense of TIN
Improvement Off, Under said Or
dinance No...-.-.,.;-.-as is levied and as
sessed against the property included il
said local Improvement district and ben
Gifted by said Improvement and the sal,
| Local Improvement Fund District No
- has been established by Orvi
nance for said purpose. and the holue
| or holders of this bond shall look onl,
| to said fund for the payment of eithe
| u" principal or the interest of thi
bond.
ne call for payment of this bond. o
| of any bond of the series of which Thu
is one, shall be made by the Town Treas
urer by publishing the same in tn
Town official newspaper of said Town
! and when such call is made for the pay
ment of this bond. it will be paid OF
the day the next interest coupon hereoi
shall become due after said call. AM
upon said day interest upon this bon'
shall cease and any remaining coupon
| shall be void
..1his bond Is one of series Of.
bonds. aggregating in all the principa
sum of............-..DOllars. issued for sal,
local improvement district, all of whicl
bonds are subject to the same term