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is paid, and shall mature in five (5) substantially equal annual in- <br />stallments after their issuance. <br /> <br /> Section 3. That it is hereby determined that notes (herein- <br />after called the "Notes") in the principal amount of $140,000 shall be <br />issued in anticipation of the issuance of said bonds for the above- <br />described purpose. The Notes shall bear interest at such rate, not <br />exceeding fifteen per centum (15%) per annum, as may be fixed by the <br />Director of Finance in his certificate awarding the Notes at private <br />sale, such interest to be payable at maturity, with provision, if re- <br />quested by the purchaser, that, in the event of default, the same shall <br />bear interest at a rate which shall not exceed fifteen per centum (15%) <br />per annum until the principal sum is paid; shall be dated their date of <br />issuance; shall mature one year from date of issuance; shall not be <br />subject to redemption by the City at any time prior to maturity, unless <br />the original purchaser of the Notes requests that the Notes provide for <br />such redemption, in which case provision shall be made for calling the <br />Notes for redemption upon ten (10) days written notice to the original <br />purchaser; shall be designated "1980 Street Improvement Bond Anticipa- <br />tion Notes 1983 Renewal"; shall be issued in such numbers and denomina- <br />tions as may be requested by the original purchaser; and shall be pay- <br />able as to both principal and interest at the office of the Director of <br />Finance of the City, or at banks or trust companies, as determined by <br />the Director of Finance, without deduction for exchange, collection or <br />service charge. <br /> <br /> Section 4. That the Notes shall be executed by the Mayor and <br /> Director of Finance, provided that one of such signatures may be a <br /> facsmile signature, and bear the seal of the corporation or a facsimile <br /> <br /> <br />