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HomeMy WebLinkAbout583 ~ " -~ $. J ~... -- !.. ~ o R D 1. N .A U .Q. E ! O!.. 583 AN ORDINANCE Providing for the issuance of bonds of Looal Im- provement District Uo. ao, fixing the amount of such bond issue, also the date and denominations of such bonds, and ordering de- liver] of such bonds. The City Oouncil of the City of Auburn do ordain as follows: Section 1. '.1'hat local improvement bonds of Local Improvement District No. 80 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. 546 of the ordinances of the City of Auburn creating Local Improvement District No. 80 of said City. Section 2, 1'hat the total amount of said local improvement bonds to be issued as in this ordinance provided is hereby fixed at the sum of l::41..~3. -!~ , said sum of $ <i. 6 b 3. .., b_ being the amoilnt of the cost and expense of mak~the improvements under the provisions of said ordinance No. 546 remaining unpaid after April 4, 1925. Section 3. That said bonds shall be dated April 25, 1925, shall be in denominations of ~200.00 each exc€pt the first numbered of said bonds which shall be in the sum of $ <.. b ~. 7f> ,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. That the City Clerk of the City of Auburn is hereby ordered and directed to cause to be printed such bonds of Local improvement District No. 80 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 de- liver such bonds to the purchaser or purchasers thereof upon pay- ment 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 be retired, and that said City Clerk be and is hereby also authori- zed to sell and deliver said bonds at par and accrued interest, if any, in exchauge for and redemption of the warrants drawn upon Local Improvement Fund, District No. 80, of the local improve- ment funds of the City of Auburn remaining unpaid. Introduced ~ld passed April Approved April 7, 1925 AT'l1];ST: ,MAYOR ,OITY C1JBRK. Approved as to form. M:J_ J~~~\t,...-tn~.,~~ ,CITY Ar.L-,-OhHl!.:YJ, f ; Published April 9, 1925