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87-137 PROVIDING FOR THE ISSUANCE OF CORPORATE PURPOSE BONDS, SERIES 1987
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87-137 PROVIDING FOR THE ISSUANCE OF CORPORATE PURPOSE BONDS, SERIES 1987
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8/25/2016 3:27:36 PM
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8/25/2016 3:27:34 PM
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Resolution/Ordinance
Res Ord Num
87-137
Res Ord Title
PROVIDING FOR THE ISSUANCE OF $2,000,000 CORPORATE PURPOSE BONDS, SERIES 1987, OF THE CITY OF DECATUR...AND PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SAID BONDS
Approved Date
12/7/1987
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I • 1 <br /> l� <br /> "AN ORDINANCE establishing procedures to be <br /> followed in incurring indebtedness for corporate <br /> purposes, issuing non-referendum bonds to evidence <br /> such indebtedness and authorizing and directing the <br /> levying of a tax, without limit as to rate or <br /> amount, for the purpose of paying principal and <br /> interest on such bonds as the same become due. " <br /> and which said Ordinance is in full force and effect; and <br /> WHEREAS it is deemed necessary and for the best <br /> interests of the inhabitants of said City, and in order to <br /> promote and protect the public health, safety and welfare of the <br /> inhabitants and citizens of said City, that it borrow money for <br /> the purpose of paying engineering and other costs and purchasing <br /> vouchers from the contractors in connection with the construction <br /> of four special assessment sewer projects known as Lake Beach, <br /> North Park, Sunnyside and Norwood Heights sanitary sewer <br /> districts (the "Project" ) , all in accordance with preliminary <br /> plans and estimates on file and approved by the Council and <br /> available in the office of the City Clerk for public inspection <br /> and which show and identify the proposed work; and <br /> WBEREAS it is necessary for that purpose that such sum II <br /> be borrowed at this time and in evidence of such indebtedness <br /> general obligation bonds of the City be issued in the principal <br /> amount of $2,000,000, and that such indebtedness be incurred in <br /> accordance with the home rule powers of the City and the Enabling <br /> Ordinance, as aforesaid, and without submitting the question of <br /> incurring such indebtedness to the electors of said City for <br /> their approval; <br /> -2- <br />
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