Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1915-12-24

created by said Ordinance 1427. knowy
as Olympia Water Works Bond and
Bond Interest Fund and shall mature
Serlaliy IN the order of their numbers.
loWest numbers f1rSt, as follows:
100000 on January /, 1918, to Janu-
airy l, 1919, inclusive.
100000 on January 1, 1920. to J,pu-
airy !, 1929, inclusive.
100000 on January /, 1923. to Janu.
AIRY !. 1925, inclusive.
90 on January l. 1926 to Janu
airy !. 1929, inclusive.
s7.ooo,o0, on January 1. 1880, to Janu.
airy l, 1881, inclusive.
100000 on January l. 1892 to Janu
airy l, 1894, inclusive.
$12,O0O.OO on January I, 1885,
Section 2. Said bonds and the inter-
est coupons thereto shall be in substan.
TALLY the following form:
UNITED STATES OF AMERICA,
State of Washington,
County of Thurston.
THE CITY OF OLYMPIA,
OLYMPIA WATER WORKS BoND f' AND
BOND INTEREST FUND BOND.
ri KMo" r AL NE MEN c BY THESE II PRES
municipal corporation, of the State Of
Washington. for value received, hereby
promises to pay to bearer Five Hundred
United States. of the present standard
of weight and fineness on the LIST day
Of January 49,. with interest there
able ab at rae II s
uary LIST In like gold coin upon pre-
sentation and surrender of the coupons
hereto attached. as they severally be-
come due. both principal and interest
payable. at the fiscal agency of the
State Of Washington in the City and
State Of New York or at the ONCE Of
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 1927 OF. said
proved by the Mayor on the Gath day
The City Treasurer Of the City Of
same as herein provided.
This bond is part Of an issue Of
bonds in the sum Of One Hundred Ten
T Thou, nd Dollars sfia9'qooo, all Of
nance 1927 aforesaid and the payment
of which both principal and interest
has been provided for as appears here
called Olympia Water Works Bond
and Bond Interest Fund" created BY
drawn draw upon for the sole purpose r of pay
ing the principal and interest Of said
bonds.
This bond and all bonds Of the series
of which 1t Is one. is issued by said city
works system to be owned and con-
trolled by said. city pursuant to a sys-
tenn or plan therefor specified and
by the vote of the qualified electors Of
said city voting at a special election
held therein on December IA. 1915.
To secure and provide for the pay:
ment gof the interest on this bond and
all Of the bonds of this series the City
OF Olympia hereby covenants and
agrees with the holder Of this bond and
come the holder thereof and hereby
obligates and binds itself to set aside
and pay into said special fund from the
csran xed os
tain fixed dates. as follows. towit:
On or before the last day Of each and
every calendar month beginning with
the month in which such bonds are
issued. a sum equal to one-twelfth OF
the annual interest on all of said bonds
outstanding and unpaid. and
ment OF the principal Of this bond and
all Of the bonds of this series the City
Of Olympia hereby covenants and agrees
with the holder OF this bond and each
holder hereof and hereby obligates and.
binds itself to set aside and pay into
the said special fund from the gross
certain hxed amounts on certain fixed
dates, a. follows, towit:
On or before the last day OF tine
Of said bonds and on or before the last
day. OF each and every calendar month
Thereafter so long as any OF said bonds
ss%an eaus to sso aRa of the
principal amount of said bonds next
It 10 hereby declared. That this issue
against the gross revenues OF said
water works system. and said city here
by expressly covenants ana agrees with
bonds Of this series that the lien Of any
future or other indebtedness which may
be created and made payable out OF the
ordinate ordinate inferior and junior to the lien
Of this series of bonds.
The City Of Olympia hereby irrevo-
cably binds and obligates itself not to
said water works system or any add
ton or extension that may be made
thereto until all of the bonds OF this
been fully paid, without the consent OF
the holders of such bonds: and the City
of Olympia further covenants and
each and every Of the bonds OF this SEE
ries that 1t will maintain in good condi-
ton and operate said water works sys-
tenn: that 1t will not reduce the rates
or charges for water so that the gross
revenues Of said city will be insNhcient
to maintain and operate said pianVand
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
who may become the holder thereof
punctually and faithfully to keep and
perform all Of Its 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
and declared that the same Is issued IN
strict compliance with the laws of the
State Of Washington and OF the ordi-
nance of the City OF Olympia referred
to in this bond, and 1t Is further found
and declared that all acts. things. cleo
lions. orders, ordinances. resolutions
and conditions precedent to the right
to issue and deliver this bond as pre-.
scribed by said laws and ordinances OF
said city have happened. existed ana
hpeu done and perfOrmed priOr to the