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HomeMy WebLinkAbout0739 . .r' .~ ., .. '1 .",. 13f ORDINANCE NO, ~ AN ORDINANCE providing for the issuance or bonds of Local Improvement District No. 98, fixing the amount of such bond issue, also the date and denomination of such bonds, and ordering delivery of such bonds. THE CITY COUNCIL OF THE CITY OF AUBURN DO ORDAIN AS FOLLOWS: Section 1. That local improvement bonds of Local Improve- ment District No. 98 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 in Ordinance No, 705 of the ordinances of the City fif Auburn, creating local improvement district No. 98 of said city. Section 2. That the total amount of said local improvement bonds to be issued a~ in said ordinance provided is hereby fixed in the sum of $ / /1.1 ~~ 7 ,being the amount of the cost and expense of making improvements'under the provisions of said Ordinance No. 705 of the city of Auburn remaining unpaid after February 25, 19Z3. Section 3. That said bonds shall be dated March 20, 1933, shall be in denominations of $100.00 each, exc~e t.}.Be first numbered of said bonds which shall be in the sum of $ ~1~ ,shall bear. interest at the rate of 7% per annum payable a ually, and there shall be attached thereto interest coupons for each interest payment. Section 4. That the City Clerk of the city of Auburn is here- by ordered and directed to cause to be printed such bonds of local improvement district No. 98 and that upon execution thereof in the manner prescribed by law and the ordinances of said city, said City Clerk be and he hereby is authorized to sell said bonds and deliver said bonds to the purchaser or/purchasers thereof on payment to said city of the amount or amounts of the principal of such bond or bonds together with premiums atidaecrued interest, if any, and that thereupon the warrants of said ~ocal improvement district No. 98 be retired, and the 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 aqYredemption of the warrants dravm upon Local Improvement Fund District No. 93 of the local improvement funds of the City of Auburn re;naining unpaid. INTRODUCED March 7, 1933 PASSED March 7, 1933 APPROVED ~~~4 aTTEST~~ \ 7 APPROVED AS TO FOIDI ~~:j{(~. CI Attorney Published l~arch 10, 1933. .