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91-58 PROVIDING FOR THE ISSUE OF GENERAL OBLIGATION BONDS, SERIES 1991
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91-58 PROVIDING FOR THE ISSUE OF GENERAL OBLIGATION BONDS, SERIES 1991
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8/22/2016 2:16:19 PM
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8/22/2016 2:16:16 PM
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Resolution/Ordinance
Res Ord Num
91-58
Res Ord Title
PROVIDING FOR THE ISSUE OF GENERAL OBLIGATION BONDS, SERIES 1991,...AND FOR THE LEVY AND COLLECTION OF A DIRECTION ANNUAL TAX SUFFICIENT TO PAY THE COMPOUND ACCRETED VALUE OF, PRINCIPAL OF AND INTEREST ON SAID BONDS...
Approved Date
8/19/1991
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C � <br /> , r <br /> � , <br /> being available or maturing as to principal and interest in such � <br /> amounts and at such times, without consideration of any reinvest- II� <br /> ment thereof, as will insure the availability of sufficient 'I <br /> moneys to make such payment (all as confirmed by a nationally <br /> recognized firm of independent public accountants) . At such <br /> times as a Bond shall be deemed to be paid hereunder, as afore- <br /> said, it shall no longer be secured by or entitled to the <br /> benefits of this Ordinance, except for the purposes of regis- <br /> tration, transfer and exchange of Bonds and any such payment from <br /> such moneys or obligations. <br /> No such deposit under this Section shall be made or <br /> accepted hereunder and no use made of any such deposit unless the <br /> Bond Registrar shall have received an opinion of nationally <br /> recognized municipal bond counsel to the effect that such deposit <br /> and use would not cause any of the Bonds to be treated as arbi- <br /> trage bonds within the meaning of Section 148 of the Code or any <br /> successor provision thereto. <br /> Section 17. To the extent that any ordinance, resolu- <br /> tion, rule, order or provision of the Municipal Code of Decatur, <br /> or part thereof, is in conflict with the provisions of this <br /> Ordinance, the provisions of this Ordinance shall be control- <br /> ling. If any section, paragraph, clause or provision of this <br /> Ordinance shall be held invalid, the invalidity of such section, <br /> paragraph, clause or provision shall not affect any of the other <br /> provisions of this Ordinance. <br /> -40- <br />
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