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HomeMy WebLinkAbout702 "'l. \ ~ .' . ~ o R DIN A N C E 702 7 0 2--- NO. AU ORDINANCE providing for the issuance of bonds of Local Im- provement District No. 97, fixing the amount of such bond issue, also the date and denomination of such bonds and ordering the delivery of such bonds. THE CITY COUNCIL OF THE CITY OF AUBURN DO ORDAIN AS FOLLOWS: Section 1. That Local Improvement Bonds of Local Improvement District No. 97 of the City of Auburn be issued in theme.nnett'andferm provided by Ordinance No. 261 of the ordinances of the City of Auburn relating to the issuance of local improvement bnds for and on account of the cost and expenses of making improvements, provided for by Ord- ina.nce No. 681, of the ordinances of the City of Auburn, creating Local Improvement District No. 97, of said city. Section 2. That the total amount of said Local Improvement Bonds to be issued as in this ordinance provided is hereby fixed at the sum of $2,374.17; said sum of $2,374.17 being the amount of the cost and expense of ma.king improvements under the provisions of said Ordin- ance No. 681, remaining unpaid after March 2, 1930. Section 3. The said bonds shall be dated March 25, 1930, and shall 'be~ in denominations of ~;lOO.CO each, except the first numbered of said bonds, w~~ich shall be in the sum of $,74.17, shall bear interest at the rate of seven per cent. per annum, payable annually, and shall have attached thereto interest coupons for each interest I:ayment. Section 4. The City Clerk of the C1.ty of Auburn 1s; he;re'by or- dered and directed to cause to be printed such bonds of Local Improvement District No. 97, and that, upon execution thereof in the manner prescribed by law and the ordinances of said city, said city clerk be and he is hereby authorized to sell sa.idtmds and deliver such bonds to the pur- chaser or purchasers thereof on payment to said city of the amount or amounts of the principal of such bond or bonds, together with premiums and accrued interest, if any, and that thereupon the warrants of said Local Improvement District No. 97 be retired and that said city clerk be and he is hereby also authorized to sell and deliver said bonds at par -and. accrued interest, if any, in exchange for and redemption of the wa.- rants drawn upon Local Improvement Fund, District No.. 97, of the local improvement funds () f the Ci ty 0 f Auburn remaininR' unpaid. Introduced and passed, March 4, 1930. AP..proved March 4, 1930.). o~ ~/~ ~~- ~ / M~yor Approved as to form: b~. a. G~ City Attorney. Published March 6, 1930~ ,