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Q !i P. 1. Ii ! ! C ~ U O. 584
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An OhDIN..dmE Providing for the issuance 0 f bonds of Local Im-
provement District No. 81, fixing the &fiOunt of such bond issue,
also the date and denominations of such bonds, and ordering delivery
of such bonds.
The City Council of the City of Auburn do ordain as follows:
Section 1. fhat local improvement bonds of Local Improvement
District No. 81 of the City of Auburn be issued in the manner and
form provided by Ordinance No. 261 of the ordinances of the City
of Auburn relating to the issuance of local improvement bonds
for and on account of the cost and expense of making improvements
provided for by Ordinance No. 547 of the ordinances of the City of
Auburn creating Local Improvement District No. 81 of said City.
Section 2. That the total mnount of said local improvement
bonds to be issued as in this ordinance provided is hereby fixed
at the sum of $-108"9.1. ~, said sum of $ I 0 ~Cf. )0 .
being the amount of the cost and expense of making the improvement
under the provisions of said ordinance No. 547 remaining unpaid
after April 4, 1925.
Section 3. That said bonds shall be dated April 25, 1925,
shall be in denominations of $ , oo.eo each except the first
numbered of said bonds which s~the sum of ~Jr.j. 70 ,
shall bear interest at the rate of seven per cent. per annum
payable annually, and shall have attached thereto interest coupons
for each interest payment.
Section 4. ~hat the City Clerk of the City of Auburn is hereby
ordered and directed to cause to be printed such bonds of Looal
improvement District No. 81 and that, upon execution thereof in the
manner prescribEd by law and the ordinances of said city, said
City Clerk be and is hereby authorized to sell said bonds and
deliver such bonds to the purchaser or purohasers thereof upon pay-
ment to said city of the ar.10unt or amounts of the principal of suoh
bond or bonds, tJgether with premiums and accrued interest, if any,
and that tLereupon the warrants of said Local Improvement District
be retired, and that said City Clerk be and is hereb~7 also authoriz-
ed to sell and deliver su.id bonds at par and accrued interest, if
any, in exchange for and redemption of the warrants drawn upon
Local Improvement ]und, District No. 81, of the local improvement
funds of the City of AJ.burn remaining unpaid.
Introduced and passed April ,1925
Approved April 7, 1925
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AT~lE8T :
, MAYOR
, CIi'Y CLERK.
Published April 9, 1925
Approved as to form.
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