The bonds issued for the payment of any local improvement shall be substantially in the following form:

Local Improvement Bond

District No....of the City of Pasco, State of Washington No.*...............

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 parts of acts. Approved March 17, 1911,” Section 52 of which act reads as follows, to-wit:

Section 52. Neither the holder or owner of any bond issued under the authority of this act shall have any claim therefor against the City by which the same is issued, except from the special assessment made for the improvement for which such bond is issued, but his remedy in case of nonpayment shall be confined to the enforcement of such assessment. A copy of this section shall be plainly written, printed or engraved on each bond so issued.”

The City of Pasco, a municipal corporation of the State of Washington, hereby promises to pay............. or bearer, $......lawful money of the United States with interest thereon at the rate of ................percent per annum, payable annually out of the fund established by Ordinance No.............., and not otherwise, bond principal and interest payable at the office of the Finance Director of said City. A 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 coupons to the Finance Director, 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 call shall be void. This bond is payable on or before the .......day of ..............., 19......., and is subject to call by the Finance Director by said City whenever there shall be sufficient money in said local improvement fund to pay the same, and all unpaid bonds of the series of which this bond is one, which are prior to this bond in numerical order.

District No.........., established by Ordinance No.........has caused this bond to be issued in the name of said City as the bond of said local improvement over and above sufficient for the payment of interest on all unpaid bonds of said series. The City Council of said City as the agent of said local improvement district, the bond or the proceeds thereof to be applied in part payment of so much of the cost and expense of the improvement as provided for under said Ordinance No......, as is levied and assessed against the property included in said local improvement district, and benefited by said improvement, and the said local improvement Fund District No.................has been established by ordinance for said purposes, and the holder or holders of this bond shall look only to said fund for the payment of either the principal or the interest of this bond.

The call for payment of this bond or of any bond of the series of which this is one shall be made by the Finance Director 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 necessary interest coupons hereon shall become due after said call, and upon said day interest upon this bond shall cease and any remaining coupons shall be void.

This bond is one of a series of................bonds aggregating in all the principal sum of $............ issued for said local improvement district, all of which bonds are subject to the same terms and conditions as herein expressed.

In witness whereof the City of Pasco has caused these presents to be signed by its Mayor and attested by its City Clerk and sealed with its corporate seal this .....day of ................, in the Year of our Lord Two Thousand ...

	City of Pasco,
	BY.….….….….….….….…...
	Its Mayor
ATTEST:.........................
City Clerk