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¦ <br />paid intp tbe proper tund ao8 ueed Por ttw purp0se ators"id sad !or no other putpme, <br />and for wbich purpoae rtaid e0my io hcre3bq sppropril?ted. <br />Sectian 6. $41d note ehell be ttie iull ganersl obligotion ot the City of lbrth <br />Olm.cted w1d t2ie f'ull faitb, crecii.t snd reaeaua of aaid City sre 2wreby pleclged for the <br />prompt poytent of the oame. The par value to be receivod Pzom the 8sle of bonds antici- <br />psted by atid aoto aad arW caccasa fluids resulting froo the isauaace tliereof sball, to <br />thc er.tent necessary, bc ueed fornctirement of eaid aote: at aaturity, together with <br />intereot tbereon, aScd ia hereby plcdgsd Por such purpose. <br />SectiOa 7. During the poriod mbile aucb note ruas there absl.l be lovied an all the <br />tazsble property in the City of NorLh OLasted, in eddition to an atLer taues snd outside <br />of tax liotationa, a diroct tax snnually not lesa t1aa tLst w61ah vould bsve boon levicd <br />iY bondz; Med bc3cn isuued vithout thc prior iosusace oP such note. <br />Scctiau 8. It ia hcreby dotcrmined that ell acts, conditioos and things required to <br />bc3 done precedetrt to md in the is auaace of aaid not?e, in order to mvice the saaie a lcgal, <br />valid und bincling obligation oY the City of ltorth Qlmted, 2save happenod, besn doae and <br />pcrfozmeci in regular aad duc f'orm an required by lsM; t.hat the tax for the ,psymant oP the <br />principe,l and iYttcrest of the bonds ahticipoted ie ual3aited as arouuY? er rste; and <br />that tha sro?unt of indebtedueaa to bQ incurred bpr the isauancse ?a48 aote does nat <br />cxceed any linitation of indebtedneas nvv fixed by ].aW. <br />Scction 9. The Clerlc of Council ia bereby dirttetad to totwsrd s certified copy of <br />thic ordinsncc to the County Auditor. <br />Section 10. This ordinance ie hereby declared to be an amergency measure necoese-xy <br />for the i,imediste proservation of thc public pesce, hftllth aad safety af eucb City <br />by rcasan of tbe Tact that the ioasaiate 18ewme of thc nfte bcrcin pravi3ed !or is <br />casenticr], to retire outstaading noteg at their rturity aad tbereby 't.o proaorre the <br />credit of the City; wherefore, Uid ordinsace sbsll go iato lamediate afteat upon its <br />passage =Q approvnl. <br />ZWS4 ' - . "-A (,.L,.r.._? 1961 <br />?? . <br />iL , ,• <br />. , ,?. • <br />S <br />?,`.. <br />, <br />,. ?' ? " i• <br />2 <br />