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? l ?s `?.? <br /> Mrs. Ruggles stated Section 4 should read..."That such anticipatory notes <br /> in the amount aforesaid shall bear interest at the rate of nine and ninety- <br /> five one hundredths per centum (9.95) per annum, payabl e at maturity, and <br /> in the event of default in the payment of such notes at maturity, the same <br /> shall bear interest at the rate of'tfiirteen per centum (13%)per annum from <br /> the said maturity until the principal sum is paid." <br />She stated Section 6 should state ..."said notes are hereby awarded and sold <br />to Ameritrust Company of Clevelarid Oliio...". <br />She said per Mr. Otto, Section 5 should include the Finance Director - <br />"Such notes shall be executed by the Mayor; Finance Director, or the Assistant <br />Finance Director,...". <br />Council President Spellma.n stated since he has been a member of Council he <br />has never voted for this ordinance and probably never will for personal reasons. <br />He said he does not think it was a very prudent expenditure and he is going to <br />stick to his traditional.beliefs, realizing the rest of Council knows the <br />importance for passage tonight. <br />Council President Spellman stated an amendment will be needed to amend Section <br />5 to include the Finance Director, per Mr. Otto's recommendation. <br />Council President Spellman, seconded by Mr. Busa, made a motion to amend <br />Ordinance 82-49. <br />Roll Call: AYES: Al1 <br />NAYS: None Motion Carried <br />Ordinance Amended <br />Mr. Busa, seconded by Mrs. Bloom, made a motion to suspend the rules of Council <br />requiring an ordinance to, be read on three separate occasions. <br />Roll Call: AYES: Messrs., Busa, Etzler, Flynn, Mrs. Bloom and Mrs. Hanus <br />NAYS: Mr. Spellman Motion Carried <br />Rules Suspended <br />Mr. Busa, seconded by Mrs. Hanus, made a motion to pass Ordinance 82-49. <br />Roll Call: AYES: 1`lessrs., Busa, Etzler, Flynn, Mrs. Bloom and Mrs. Hanus <br />NAYS: Mr. Spellman Motion Carried <br />Ordinance Passed <br />Discussion was held regarding the introduction of the ordinance. <br />Mr. Busa stated the ordinance could not be introduced by Council as a lJhole <br />since Mr. Spellman did not vote for the ordinance.