Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1915-12-31

States of the present standard Of
weight and tineness, at the office Of the
City Treasurer or at the state fiscal
agency in New York city at the option
of the holder, shall be payable both
principal and interest solely from the
created by said Ordinance 1427, known
as Olympia Water Works Bond and
Bond Interest Fund" and shall mature
serially in the order of their numbers,
lowest numbers first, as follows:
100000 on January l, 1918, to Janu-
airy /, 1919, inclusive.
! 100000 on January /, 1920 to Janu-
airy l, 1922, inclusive.
100000 on January ], 1923, to Janu-
airy 1. 1925, inclusive
100000 on January l, 1926, to Janu-
airy l. 1929, inclusive
100000 on January 1, 1880, to Janu-
airy l, 1881, inclusive
100000 on January l, 1882, to Janu-
airy l, 1884, inclusive
| $12,000.00 on January 1, 1885.
Section 2. Said bonds and the inter-
est coupons thereto shall be in substan-
" UNIFIED STATES or AMERICA,
State of Washington,
County of Thurston.
THE CITY OF OLYMPIA.
OLYMPIA WATER WORKS BOND AND
RoND INTEREST ;IHS E TU M 2 s g p2;
ENTS; That the City Of Olympia, q
Washington, for value received, hereby
Dollars ($56O) in gold coin OF the
United States of the present standard
of weight and fneness on the LIST day
at he rate Of s per pas
able semi annually on July LIST and jan
uary LIST in like gold coin upon pre-
hereto attached, as they severaily be-
come due. both principal and interest
payable at the fiscal agency of the
State of Washington in the city and
| n Ia M
the Treasurer Of said city at the option
OF the holder hereof only out Of the
revenues and proceeds from the water
works system of said city as provided
herein and in Ordinance 1427 Of said
city. passed the City Council and APP
proved by the Mayor on the Gath day
Of November, 1915.
The City Treasurer Of the City Of
| Olympia is hereby directed to pay the
same as herein provided.
This bond is a part of an issue OF
Thousand Dollars. (s110.oOO). all Of
nance 1927 aforesaid and the payment
of which both principal and interest
has been proyided for as appears here
called Olympia Water Works bond
and Bond Interest Fund" created BY
drawn upon for the sole purpose of pay
ing the principal and interest Of said
bonds.
This bond and all bonds of the series.
for the purpose Of acquiring a water
works system to be owned and con-
trolled by said city pursuant to sys:
or plan spesidea d.t and
by. the. vote Of the qualified electors OF
said city voting at special election
held therein on December IA, 1915.
ment of the Interest on this bond and
all Of the bonds Of this series the City
OF Olympia hereby covenants and
each and every person who may be-
come the holder thereof and hereby
obligates and binds itself to set aside
pay o. wafer Wores
tain fixed dates, as follows. towit:
every calendar 'n month wsS
the month in which such bonds are
issued, a sum equal to one-twelfth OF
n on al OF said bonds
To secure and provide for the pay
ment Of the principal of this bond and
all Of the bonds Of this series the City
with the holder Of this bond and each
and every person who may become the
holder hereof and hereby obligates and
the said special fund from the gross
revenues Of said water works system
certain hxed amounts on certain nxed
on or before the last day OF the
twelfth calendar month after the date
Of said bonds and on or before the last
Thereafter so long as any of said bonds
remain outstanding and unpaid an
amount equal to one-twelfth OF the
principal amount OF said bonds next
It is hereby declared, That this issue
Of bonds is first, prior and direct lien
water works system. and said city here
by expressly covenants and agrees with
the holder of each and every Of the
future or other Indebtedness which may
be created and made payable out Of the
revenues of such system shall be SUBJ
ordinate inferior and junior to the lien
The City Of Olympia hereby irrevo-
cably binds and obligates itself not to
sell: lease, or In any manner dispose Of
said water works system or any addt-
ton or extension that may be made
thereto until all of the bonds Of this
series with interest thereon shall have
been fully paid. without the consent Of
the holders Of such bonds; and the City
OF Olympia further. covenants and
agrees with the holder or holders Of
each and every of the bonds Of this -se-
ries that 1t will maintain in good cOndi-
ton and operate said water works sys-
tenn; that 1t will not reduce the rates
revenues Of said city will be insufficient
to maintain and operate said plant and
to make the payments into said special
time the gross revenues Of said system
shall not be sufficient to make such
payments and to maintain and operate
said system that 1t will Increase its
rates and charges to such a figure as
will make the revenues from such sys-
tenn sufficient to maintain and operate
the same and make such payments.
The City of Olympia further cove
nants and agrees with the holder of
this bond and each and every person
punctually and faithfully to keep and
perform all of It's duties, obligations
and covenants as set forth in said bond
and in said ordinance.
For the further assurance of the pur-
chaser of this bond and of each success
sive holder hereof 1t is hereby found
strict compliance with the laws Of the
State Of Washington and OF the ordi-
nance of the City Of Olympia referred
M