The Kennewick courier-reporter. [volume] (Kennewick, Wash.) 1939-1949, 1948-08-19

Sewer Revenue Bond Redemption
Fund" created by Ordinance No.
52l of said city.
The City of Kenrrewick hereby
reserves the right to reoeem any
or all Of the outstanding bonds OF
this issue which are denominated
Series A" at par in inverse nu-
merical order on any interest pay
ment date on and after seven years
from date hereof by giving thirty
days notice of such intended re-
demption by one publication there
Of in the official city newspaper
not more than forty nor less than
thirty days prior to said redemp-
ton date.
This bond is one of an author
lied issue of sewer revenue bonds
in the total principal sum of $780,
600, and one of series of 5000, 600
of such bonds issued Hereunder
and denominated Series AZ, is
sued for the purpose of providing
funds for the construction and in
stallation of certain additions and
improvements to the sanitary sew
erage system of the city. All of
said $3S0,000 of bonds are of
equal parity and are payable sole
ly out of the gross revenues of
said sewerage system. ...s,.
The City of Kennewick hereby
agrees with the holder of this
bond that it will keep and per-
form all the covenants of this bond
and of Ordinances No. $40 and No.
SCI to be by il kept and perform
ed. The city does hereby pledge
and bind itself to set aside from
the gross revenues of said sanitary
sewerage system and all additions
and improvements thereto, and
to pay into said Bond Redemption
Fund and the Reserve Account ere.
ated therein, the various amounts
required by said Ordinance No
SCI to be paid into and maintain
ed in said Fund and Account, all
within the times provided by said
ordinance.
Said amounts so pledged are
hereby declared to be prior lien
and charge upon all the gross rev.
enues of said sanitary sewerage
system, including all additions and
improvements thereto, superior to
all other charges of any kind OF
nature except the necessary cost
of maintenance and operation OF
said system.
The City of Kennewick has fur.
Their bound itself to maintain said
system in good condition and re.
pair and to operate the same In
an efficient manner and to estab.
ish, maintain and collect rates
and charges for sewerage service
that will provide sufficient reve-
nues to pay the necessary cost OF
maintenance and operation Of said
system and b pay into said Bond
Redemption Fund the amounts
which the city has pledged to be
set aside therein.
It is hereby certified and de-
clared that said bonds are issued
pursuant to and in strict compli-
ance with the Constitution and
Laws of the State of Washington
and ordinances of the City Of Ken
newick. and that all acts, condi-
tions and things required to be
done precedent to and in the is
suance of this bond have happen
ed, been done and performed as
required by law.
In Witness Whereof, the City
Of Kennewick has caused this
bond to be signed by its mayor,
and attested by its clerk under the
corporate seal of said city, and the
interest coupons hereto attached
to be signed with facsimile sigma
lures of said officials this first day
of September, l948.
City of Kennewick, Washington
Attest: .......-.-...-...-.-...-.. City Clerk
The interest coupons to be at
tached to said Series A bonds shall
be in substantially the following
form:
Mo-. $l6.25
$3.50
On the first of ............, b., the
City of Kennewick, Washington,
will pay to bearer at the Office of
the City Treasurer in Kennewick,
Washington, the sum of ....-... Dol
lars in lawful money Of the Unit
ed States of America from a spec
ial fund of the city known as
aKennewick 1913 Sewer Revenue
Bond Redemption Fund, said
sum being the semiannual inter-
est due that day on its sewer rev.
enue bond dated September 1,
1913, denominated Series A., and
numbered .....
City of Kennewick, Washington
By--------------------- Mayor
] Section 3. Said Series A bonds
shall be signed by the Mayor OF
the city and attested by the City
Clerk under the corporate seal OF
the city, and the interest coupons
attached to said bonds shall be
signed with the facsimile sigma
lures of said officials.
Section 4. That there be and is
hereby created special fund to
be known as ''Kennewick 1948
Sewer Revenue Bond Redemption
Fund.-, hereinafter referred to as
the Bond Fund.-, which fund is
to be drawn upon for the sole pur-
pose of paying the principal and
interest Of all Of said $3.50, 900 OF
bonds outstanding. The City OF
Kennewick hereby obligates and
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