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o R DIN A N C E
N O. 530
Ar ORDINAliCE providing for the issuance of bonds of Local Im-
provement District Ho. 68, fixing amount of SllCh pond iss}1e, als,o
the date and denomination of such bonds, and ordering the delivel'J- of
sucb bonds.
The City Council of the City' of Aubum do ordain as folloVls: I
Sect ion 1. Thot Local Improve:C1Gnt :;:;on(18 0 f Local Il:.1pro veI;10nt I
Di,strict No. 68 of t}.e Cit~,r of Aubum be issued in t-B.G-1l18'.01er an"d- .
form provided by Ordina nceJ{o. 261 of 'C he 0:cdinal1ces 0:: the C it=r of
Auburn relating to the issuance of Local Improvement l)onds for and on
account of the cost 8nct eXliense of making improvemonts provided for
bjT Ordil1ance I::o. 500 of the ordinances of the City of Auburn creating
Local Improvement District lJo. 68 of s aidci ty.
Section 2. That t1].e total amount of said local improvement
bonds, to be issued as in this ordinance p:covided, is hereby fixed
at the sum of $1,535.49, said ~1m of $1,535.49 being the amount of the
cost and eXl)ense of maldng the impl~overnents to be rnacle by tLe pro-
visions of said Ordinance No. 500 remaining unpaid after May 11, 1924.
.;;,;;:;.
Section 3. That said bondS shall be dated June 10, 1924, shall
be in denominations of $ \ () () ~() each, except the first numbered
of sai d bonds, whi ch shall l')e in the sum 0 f $-' :3 5'"'. It <<J , shall ~eq.r
interest at the rute of 7 per cent per amlum, payable annually, and shall
have attached thereto interest coupons for each interest payment.
SectioIL 4. That the C,it;y' Clerk;:oof. .;the ",CitJ,l'.of 4..1J.bu.m"",i~ ~b..e:re1:lY
ordered and directed to cause to oe urinted such bonds of Local
Improvement District No. 68 and that~ upon exec~tion tl~reof in the
Danner :prescr~.1?e9- by law and the ordinances of said city, said City
Clerk be and lsoothorized to sell said bonds Dnd deliver such bonds
to the purchasc~ or purchasers thereof upon payment tio said city
of the amount or nmounts of the principal of such bond or bonds,
tOGether with premiums ano. accrued int erest, if any, and that the reupon
the warrants of said Local Impl"OV6111cnt~District No. 68.be retired,
al1(l that said City Clerk be 8l1d is also aW.lorized to sell ancl.. c1~eli ver
said bonds ot par and accl'ued interest, ^if any,. in exchange for and
redemption of the warrants drawn upon ~ocal Improvement Fund, District
lifo. 68, of the Local improvement funds of the Cit~. of:Auburn, remain-
ing unp ai d .
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Sect io-n 5. Tll...q, t th is 0 rdinence shell take effect and be'" in force
five days from and after its Dassaee, approval and rublication as re-
quired by law.
Introduceo_ 811Q pas sed June 17, 1924.
. Approved June 17, 1924.
.f1ttest:
, Mayor.
City C Ie I' k.
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Approved 8S to form:
Published June 20, 1924.
~'..-h-'A!.^,
, City Attorney.
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