63-157 Ordinance - Laserfiche WebLink

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Ordinance No. 63~ Page 3 by law. The proceeds from the sale of said bonds, except the premium and accrued interest thereon sha11 be used for the purpose aforesaid and for no other purpose; the premium and accrued inter- est received from such sale sha11 be transferred to the Band Retirement Fund to be applied to the payment of the principal and interest of said bonds in the manner provided by law. Section 7: It is hereby determined that all acts, conditions and things necessary to be done precedent to and in the issuing of these bonds in order to make them legal, valid and binding obligations of said City have happened, been done and performed in regular and due form as required by law; th~.t the faith, credit and revenue of said City are hereby irrevocably pledged for the prompt payment of the principal and interest there- of at maturity; and that no limitation of indebtedness or taxation, either statutory or consttution~.l, has been exceeded in issuing these bonds. Section ~: The Clerk of Council is hereby dir- ected to forward a certified copy of this ordinance to the County Auditor. Section 9: That this ordinance is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, health and safety and for the further reason that the notes of this City heretofore issued for these improve- ments are about to mature and must be retired with the proceeds of the bonds authorised herein in order to protect the credit of this City; wherefore, this ordinance shall go into effect immediately upon its ,passage and approval by the Mayor. -/, PASSED' ~ls.~ ~~' ~'~r r''SJ~ U~''` ~` reps t 0 ouncii /°.~e TE-.~ ATTEST: ~_'~ . , L_~~ -.~~ .~ ~. I,ou se Hall, Clerk o ouncil APPROVED: i P J. arg" ,Mayor .~~ % s A k ~G^" ~~ ~ t t ~~ f y~~ T. - '