Courier-herald. [volume] (Kennewick, Wash.) 1949-1950, 1949-11-12

Both principal ana interest Oh Sdiu
bonds shall be payable in lawful money OF
the United States of America at the office
of the City Treasurer in Kennew1ck. Wash.
ington, and shall be oblisations only
against the special Bond Redemption Fund
created by this ordinance
the right to redeem any or all Of the out.
standing bonds OF this issue Of $1,000.
OOO,O 900 Of bonds at par IN inverse numeri.
cal order on any interest payment date
on and after November 1, 1853, by giving
thirty days notice of such intended re-
demption by one publication thereof In the
official city newspaper not more than
forty nor less than thirty days prior to
said redemption date and by mailing Ike
notice at the same time to The Pacific
National Bank of Seattle at their place Of
business in Seattle Washington. Interest
on any bond or bonds SO called for re-
demption shall cease on such redemption
date.
"Kennewick Water Revenue Bonds, 1949','
and shall be in substantially the follow.
Ing form: :, ooo
~. UNITED STATES OF AMERICA
STATE OF WASHINGTON,
CITY OF KENNEW1CK
WATER REVENUE BOND, 1919
KNOW ALL MEN BY THESE PRESENTS:
That the City of Kennewick, municipal
corporation Of the State Of Washington,
hereby acknowledges itself to owe and
for value received promises to pay to
bearer on the first day of November, 19-.
the principal sum of
- ONE THOUSAND DOLLARS
with interest thereon at the rate of-9o
per annlim payable Semiannually on the
first days of May and November OF each
year as evidenced by and upon presenta-
ton and surrender of the attached inter-
Both principal and interest are payable
in lawful money of the United States OF
America at the office Of the City Treasur-
err in Kennewick. Washington, solely out
of the special fund of the city known as
'Kennewick 1949 Water Revenue Bond
Redemption Fund.- created by Ordinance
No. - of the city.
The City of Kennewick has reserved the
right to redeem any or all OF the out.
standing bonds Of this issue at par IN in
verse numerical order on any interest pay.
mert date on and after November 1, 1859,
by giving thirty days notice OF such IN
tended redemption by one publication
thereof in the official city newspaper not
more than forty nor less than thirty DAYS
prior to said redemption date and by mall
ing like notice at the same time to Inc
Pacific National Bank of Seattle at their
place of business in Seattle, washington.
This bond is one of an authorized issue
of water revenue bonds of the City OF
Kennewick in the total principal sum OF
81, ZOO, OOO, S. of which nave
been heretofore or are now being issued
with this bond, issued for the purpose OF
providing funds to- pay part of the cost
of acquiring, constructing and instaiins
/ a complete water supply and distributor
| system for the city as provided by Oruln
ance No $50 and as authorized by nolS
| of the qualified electors of the city: All VI
| said bonds are of equal rank ana nen VA
| on the gross revenue of said system aru
are payable solely out OF the sross ie'
enue thereof .,orts
The City of Kennewick hereby covenants ans
| and agrees with the holder OF TINS DUN n,I
! that it will keep and perform all the Gov
enants of this bond and of said Oro n,. -
/ cos No. $50 and No. - to De ny
| Sent and performed The city does hereby
| nIedse and bind itself to set aside lro, ,l.
l the gross revenue of said water supply
| and distribution system and all additlons
| and improvements thereto, and to pay
/ into said Bond Redemption Fund and into
/ the Reserve Account and the Sinking
Il gund created by said ordinance No. -
Il the various amounts required by said OF,
dinance to be paid into and maintained
in said Funds and Account, all WITHIN
the times provided by said ordinance.
Said amounts SO pledged are hereby de-
clared to be prior lien and charge upon
the gross revenue of said water supply
and distribution system. including all addi-
tions and improvements thereto. superior
to all other charges of any kind or ma
ture except the necessary cost OF MAIN
tenance and operation of said system.
Inc City OF kennewick has further
bound itself TO maintain said system in
good condition and repair and to operate
the same IN an efficient manner and at
reasonable cost, and to establish, MAIN
'ain' ana collect rates and charges for