73-034 Ordinance - Laserfiche WebLink

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C1TX tF DID cn~~t ~o. 3-3 By .._~ W~'Rl6AS, the fisca]. officer e~f' the City has certified ae to the mazimtm ~eaturity of the a~sticipated and of the sates herein authorised, the ser9c3~~awa neetnrty of such bonds berg 23 y+em~rs based oa the allees-ti0a of the s to be expended fnr the srrers3. e].asses of i~oReaaests ss set forth in his certificate, which allocation is hereby ap~ved and eoat'iraeciy , t3~, BE ~' ~ by the Covscil of the City of Wirth Olmsted, Ct~rahc~ga Caenty, t3hio: Section 1. Thst it is hereby declared -ssary to isaxe of the City of Forth 01sMdeted is the principal sm~ of $~4,C~ for the pur- pose of paying part of the cost of coastrmatsg a pa7.iae a~aisistratie+a building sad clearing, laadsce-piag and othere3se fa~mcving the site thereof, sad to the agcte~tt aeaessary to pay not to es~ceed one year's interest oa such bonds or notes issued is sYrticipation therec~'. Section 2. That said bonds shall be dated ap~oxisately April 1 197+, shall bear interest at the estimated rate of six per cestud (6~r~ per annums payable saaei-annua3.]~r, until the p~riaaipal svmd is paid, and sha11 nature in tMenty-three svlbstsntialZy egtanl. an~,3. installments after their issuance. Section 3. That for the purpose of raising meaey is anticipation of the issuance of the aforesaid bonds it is hr~nsby declared aeoessary to issue and there shall be issued notes of said City in the prir~aipal amount of $46E),tj0o. Section ~+. That such anticipatory notes in the aauaunt aforesaid shall 'bear interest act such rate not euceeding five per centuffi (5~-) per asu~, payable at maturity, and at such rate after saturity not es~cesd- eight per ceatum O p+er annum, as ms`y be fined by the Director of Finance is his award trP said sofas at private sale. Shah sates shall be dated as of the date of their issuance sad steal]. matmre one year frc~ such Sate, and shall be fa such denominations as may be ree~,uested by the purchaser. Section ~. Such notes shall be signed by the MAymr atitd Director of Pinnace sad bear the seal of the corporation. Whey sha11 be payable in Federal Reserve fe~sEls of the t~ited States of America at the wain office of The National City Back of Cleveland, C1eve].aad, Ohio, sit shall express upon their face the. purpose, for ehich they are issued and that they are issued pursuant to this ordinance.