A. Whenever bonds are authorized by ordinance ordering any local improvement or by any other ordinance relative thereto, the mayor and city clerk are authorized and directed to issue such local improvement bonds as provided by law in the aggregate amount of the assessments remaining unpaid at the time of such issuance, with interest considered as aforesaid, which bonds shall be issued after the lapse of the 20-day period provided by law, which bonds shall be in the following form:

LOCAL IMPROVEMENT BOND OF THE CITY OF AUBURN, STATE OF WASHINGTON

No. ___________     $_________

The City of Auburn, a city of the third class, situate in the County of King, State of Washington, hereby promises to pay to ___________ or bearer, ___________ Dollars, lawful money of the United States, with interest thereon at the rate of _____ per cent per annum, out of the fund established by ordinance No. ______, known as and designated upon the Finance Director’s record as Local Improvement Fund, District No. ______    , and not otherwise, both principal and interest payable at the office of the Finance Director of said City.

Coupon is hereto attached for each installment of interest to accrue hereon, and said interest shall be paid only on presentation and surrender of such coupon to the Finance Director, but in case this bond is called for payment before its maturity, each and every coupon representing interest not accruing at the time this bond is payable under such call, shall be void. This bond is payable on or before the _____ day of _____________ A.D., 19_____ and is subject to call by the Finance Director of said City, whenever there is sufficient money in said fund to pay same and all unpaid bonds of the series of which this bond is one which are prior to this bond in numerical order after the payment of interest on all unpaid bonds of said series.

The City Council, of Auburn, King County, Washington, under date of ______, 19___ caused an ordinance to be passed providing for the improvement of __________ by ___________ which ordinance is number ____ of the ordinances of the City of Auburn, and pursuant to said ordinance and supplemental ordinances and resolutions (let a contract to ____________________ or made such improvement under supervision of the City Council) and thereafter on the _____ day of ___________, 19____, passed an ordinance No. _____ providing for the issuance of bonds for the payment of the cost and expense of such improvement and fixing the date thereof, and this bond is issued pursuant to said ordinances and general ordinances of the City of Auburn and the laws of the State of Washington, and the holder of this bond shall look only to said fund for the payment of principal and interest of this bond.

The call for payment of this bond or any bond of a series of which this is one, shall be made by the Finance Director by publishing the same in the official newspaper of said City as required by law, and when such call is made for payment of this bond, it will be paid on the day fixed in said notice as the day of payment thereof, and on said day interest on this bond shall cease.

This bond is one of a series of ____ bonds aggregating in all the sum of _________     dollars, issued in payment of said local improvement and secured by the assessments levied therefor, all of which bonds are subject to the same terms and conditions as herein expressed.

In witness whereof the said City of Auburn has caused these presents to be signed by its Mayor and attested by its Clerk and sealed with its corporate seal this ____ day ___________ A.D., 19____.

THE CITY OF AUBURN

Attest _________         By___________ Mayor

B. There shall be attached to each bond coupons representing the interest thereon, payable annually for the period for which bonds shall run, substantially as follows:

No. ___________     $_________

On or before the ____ day of _________ 19__, the City of Auburn promises to pay to the bearer, at the office of its Finance Director ________ Dollars, being one year’s interest due on that date on bond No. ____ of the bonds of Local Improvement Fund No. _____ of said City of Auburn, and not otherwise, provided that this coupon is subject to all the terms and conditions contained in the bond to which it is annexed, and if said bond is called for payment before maturity hereof, then this coupon shall be void.

_____________________

Mayor

_____________________

City Clerk