HomeMy WebLinkAbout654
,6
,~t,..~
654
ORDINANCE No. 651L
AN ORDINANCE: providing for the issuance of bonds of
Local Improvement District no. 90, fixing the amount of such bond
issue, also the date and denominations of such bonds, and ordering
sale and delivery of suoh bonds.
THE CITY COU1~CIL OF Tllli CITY OF AUBURl~ DO ORDAIU AS
FOLLOWS:
Section 1. ~hat Local Improvement Bonds of Local Improvement
District no. 90 of the City of AubuJ.'n be issued in the manneJ.' and fOJ.'m
prOVided by oJ.'dinance No. 261 of the OJ.'iinances of the City of AubuJ.'n
J.'elatlng to the issuance of Local ImpJ.'ovement Bonds for and on account
of the cost and expense of making improvements pJ.'ovided for by ordinanoe
No. 623 of the Ordinanoes of the City of Auburn oreating Local ImpJ.'ove-
ment DistJ.'iot No. 90 of said City.
Section 2. That the total amount of said Local ImpJ.'ovement
Bonds to be issued as in this ordinance pJ.'ovided is hereby fixed at the
sum of t ~ \ () S,.~. 'f 0..... ; said sum of :~ , J OJ ~-J 2.... It 6..... being
the amount of the oost and expense of making improvements under the
pJ.'ovisions of said ordinance No. 623 remaining unpaid after May 14,
1928.
Section 3. That said bonds shall be dated June 5, 1928, shall
be in denominations of Five Hundred Dollars ($600.00) each excepting
the first numbered of said bonds which shall be in the sum of I 6-' ~..y..s.....,
shall bear interest at the rate of seven peroent (7%) per annum, payable
annually, and shall have attached thereto interest ooupons for eaoh
interest payment.
seotion 4. That the City Clerk of the City of Auburn i8
hereby ordered and direoted to oause to be printed suoh bonds ot ~ocal
improvement distJ.'ict Bo. 90 and that, upon exeoution thereof in the
manner presoribed by law and the ordinanoes of said City, said Oity
Clerk be and is hereby authorized to sell said bonds and to deliveJ.' said
bonds to the purohaser or purchasers thereof upon payment to said City of
the amount or amounts of the prinoipal of suoh bond~ OJ.' bonds, together
with premiums and ao=rued interest, if any, and that tbereupon the out-
standing warrants of said local improvement district No. 90 be retired,
and that said City Clerk be and is hereby also authorized to sell and
deliver aaid bonds at par and aocrued interest, if any, in exohange for
and redemption of the waJ.'rants drawn upon local improvement fund"
distriot No. 90, of the looal improvement !ands of the City of Auburn,
remaining unpaid.
n~TRODUCED. May 15, 1928.
PASSED
Al?PROVED
1928.
Attest: / /7
//J.. / /~_ ~
"
iNTRODUCED June 5, 1928
PASSED June 5, 1928
APPROVE') Jun~/~ 1928.
cf;fLZ';/
May 0 r
Attest:1' /'J
tUfJr J).a,rl~-?Z,~(//
. Ci tdClerk.
~ \- " l'l1. 'iI.
APPROVED AS TO FORM:
~~N..~
Ci t;y Attorney