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HomeMy WebLinkAbout700 . . , . ~ ~.: o R DIN A N C E NO. ~lOO 7(Jo AN ORDINANCE providing for the issuance of bonds of Local Im- provement District No. 96, fixing the amount of such bond issue, also the date and denomination of such bonds and ordering the de- livery f such bonds. THE CITY COUNCIL OF THE OITY OF AUBURn DO OHDAIN AS FOLLOWS: :::.~ Section 1. That Local Improvement Bonds of Local Improvement District No. 96 of the City of Auburn be issued in the manner and fornl provided by Ordinance No. 261 of the ordinance s of the C1 ty of Auburn relating to the issuance of local improveUlent bonds for and on account of the cost and expenses of making improvements, provided for by Ordinance No. 677, of the ordinances of the City of Auburn, creating Local Improve~ent District No. 96, 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 $3,801.38; said sum pf $.3,801,,38 being the amount of the cost and expense of makJ.ng il1.provements under the provisions of said Ordinance No. 677, remaining unpaid after January 26, 1930. Section 3. The said bonds shall be dated February 21, 1930, and shall be in denominations of $200.00 each, except the first numbered, of said bonds, which shall be in the sum of $201. 38, shall bear interest at the rate of seven per cent. per annum, payable an- BHe~~Y! . ~dshall have attached thereto interest coupons for each in:(t-e:rest pajment. . Section 4. The City Clerk of the City of Auburn is hereby or- dered and directed to cause to be printed such bonds of Local Improve- ment District No. 96, 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 said bonds and deliver such 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, to- gether with premiums and accrued interest, if any, and that thereupon the warrants of said Local Improvement District No. 96 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 warrants drawn upon Looal Improvement Fund, District No. 96, of the local improvement funds of tbe City of Auburn remaining unpaid. Introduced and passed, February 4, 193G. Approved February 4, 1830. ~Ma;O~~~.- Approved as to form: ~~, ~, ~~ City Att.orney Publ~shed February 6, 1930.