Laserfiche WebLink
Ordiaance No. <br />Page Twfl <br />Seetioa 6s Sa.id bands ehall be first offered at par and aocrued isterest <br />to the officer in oharge of the Bond 8etirement Fund in his official capacity, aad so <br />mm,y of the sane as sha,12 not be taken by said offieer sha7.1 be sold at ptLblic "l.e <br />to tne highest and beat bidder therefor in the .manner pxovided bg law. The pxoaeeds <br />from the sa1,e of said bondss, exeept the premium, aeortaed interest therem and <br />eapitalized intexeat shall be used for the purpose a.foresaid aael fc?r no c+ther purpose <br />?and to be allocated to the purpo$e herein deseribed. The pr?eiua, accxt?ed intereet <br />and aapitalized iatereat received from such sate shalZ be transferred tc, the Bond <br />Retirement Pund to be applied to the pa,yment of the principal aud interest of said <br />bonde 3n the manuer provided by law. <br />Secticn 7s It is hereby determiised that aZl acts, conditions and things <br />necessary to be dc>ne, preceden.t to and in the issuin.g vf these bonds in order to meke <br />them legal, valid and binding obligaticros of sa3d City have been done, ha,ppened and <br />perf ormsd i.n re,gular and due form as required by law; that the faith, aredit and <br />reveame of sa.:id City are hereby irrevocably pledged for the promgt payment af the <br />prinaipal aad interest thereof at eaa.turity; and that no lim3tatian of iadebtednoss <br />or ta,aatim, either statutory or conetitutiona7., has been egceeded i.n iseuitg these <br />bcmda. <br />Section 8s The Clerk of Cauneil is hereby directed to farmard a certified <br />copy 0f this ordinance to the Conntyr Auditor. <br />Seatioa 9s This ordinsnce i+a hereby declared to be a.zn emergency meaata.re <br />neaessary far the imediate preservation of the pubZia pea,ce, health, safety and <br />welfare of the City and for the fci.rther reasan that the prompt issuance of the bonda <br />herei.s provided for is neeessary to preserPe the credit of the City by retirirtg the <br />outatanding notes issued in anticigation thereof, <br />Sectim lOs Wherefore, this ordinanee sha,11 be in full force and effect <br />from and i.mediatelg after its passage and appxoval by the Mayox. <br />? <br />Passeds --?-?- ?, /mCJ <br />ATTFST; <br />. ? ? <br />? <br />uLauis-' e Hall, Clerk of Council Bruce MasDonald, Preeid.ent of Council <br />AFP i , <br />Paul J. sau, Mayar <br />? <br /> <br /> <br />? <br />.. <br />