All bonds issued in pursuance of the provisions of the ordinance codified in Sections 3.04.020 through 3.04.080 shall be in substantially the following form:

City of Kettle Falls

No.

Local improvement Bond

District No.

The City of Kettle Falls, a municipal corporation of the State of Washington, hereby promises to pay to _______ or bearer, _______ Dollars lawful money of the United States, with interest thereon from date at the rate of _______ percent per annum, payable _______ annually, out of the fund established by Ordinance No. _______ of said city, and known as local improvement fund, district No. and not otherwise, both principal and interest payable at the office of the city clerk-treasurer of said city.

A coupon is hereto attached for each installment of interest to accrue hereon, and said interest shall be paid only upon presentation and surrender of such coupon to the city clerk-treasurer; but in case this bond is called for payment before its maturity, each and every coupon representing interest not accrued, at the time this bond is payable under such a call, shall be void.

This bond is payable on or before the _______ day of 19_______, and is subject to call by the city clerk-treasurer of said city whenever there shall be sufficient money in said local improvement fund, district No. to pay for same, and all unpaid bonds of the series of which this bond is one, which is prior to this bond in numerical order, over and above an amount sufficient for the payment of interest on all unpaid bonds of said series.

The city council of said city as agent of said local improvement fund, district No. _______, established by said local improvement district No. _______, the bond, or proceeds thereof, to be applied in part payment of so much of the cost and expense of the improvement of those portions of said city, as is created by local improvement district No. _______ and provided for under said Ordinance No. _______ as levied and assessed against the property included in said local improvement district No. _______ and benefited by said improvement, and the said local improvement fund, district No. _______ has been created by Ordinance No. _______ for said purpose, and the holder or holders of this bond shall look only to said fund for payment of either the principal or interest of this bond.

The call for payment of this bond or any bond of the series of which this is one, shall be made by the city clerk-treasurer by publishing the same in the city official newspaper of said city, and when such call is made for the payment of this bond, it will be paid on the day the next interest coupon hereon shall become due after said call and upon said day interest upon this bond shall cease.

This bond is one of a series of local improvement bonds series _______ 19_______, aggregating in all the principal sum of _______ Dollars, issued for said local improvement, district No. _______, all of which bonds are subject to the same terms and conditions as herein expressed.

N.B. This bond is issued by virtue of the provisions of an act of the Legislature of the State of Washington entitled: An act relating to local improvements in cities and towns and repealing certain Acts and part of Acts. Approved March 17th, 1911. Section Fifty-two (52) of said Act reads as follows, to-wit:

Section 52. Neither the owner or holder of said bond issued under the authority of this Act shall have any claim therefor against the city upon which the same is issued, but his remedy in case of nonpayment shall be confined to the enforcement of such assessments. A copy of this section shall be written, printed or engraved on each bond so issued.

IN WITNESS WHEREOF, the city of Kettle Falls has caused these presents to be signed by its Mayor, attested by its city clerk-treasurer, and sealed with its corporate seal this day _______ of _______ in the year of our Lord One Thousand Nine Hundred and _______.

CITY OF KETTLE FALLS

Attest: By ______________

Mayor

______________

City Clerk-treasurer

There shall be attached to each bond such number of coupons not exceeding ten, as shall be required to represent the installments of interest thereon payable, ________annually, for the term of said bond, which coupon shall be in substantially the following form:

On the day of ________, 19________, the City of Kettle Falls in the State of Washington promises to pay to bearer at the office of the City Clerk-treasurer __________ Dollars, being interest due on that day on bond No. ______ of the bonds of local improvement fund, district No. ________ of the City of Kettle Falls, and not otherwise; provided, that this coupon is subject to all the terms and conditions contained in the bond to which it is annexed.

Attested and countersigned by

________________________

Mayor of the City of Kettle Falls

________________________

City Clerk-treasurer” (Ord. 1337, §15, 1980).