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5390 PROVIDING FOR BORROWING MONEY AND ISSUING BONDS OF THE CITY OF DECATUR, TO THE AMOUNT OF $2,600,000
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5390 PROVIDING FOR BORROWING MONEY AND ISSUING BONDS OF THE CITY OF DECATUR, TO THE AMOUNT OF $2,600,000
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10/25/2016 1:15:45 PM
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10/25/2016 1:15:44 PM
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Resolution/Ordinance
Res Ord Num
5390
Res Ord Title
PROVIDING FOR BORROWING MONEY AND ISSUING BONDS OF THE CITY OF DECATUR, TO THE AMOUNT OF $2,600,000 FOR THE PURPOSE OF PAYING THE COST OF IMPROVING AND EXTENDING THE EXISTING SYSTEM OF SURFACE WATER DRAINS
Approved Date
11/23/1970
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1 . • 4 . <br /> January 1 of each of the years and in the a,mounts and bear interest <br /> annually at the rates and be niunbered as followso <br /> Bonds Numbered Rate of <br /> Year Amount (all niun.bers inclusive) Interest <br /> 1972 $ 75,Ooo 1 to l5 �� <br /> 1973 100,000 l6 to 35 �+� <br /> 197�+ loo,o00 36 to 55 �+� <br /> 1975 l00,000 56 to 75 �� <br /> 1976 125,000 76 to loo �.� <br /> 1977 125,000 lol to 125 �� <br /> 19?8 125,000 126 to 150 �.� <br /> 1979 150,000 151 to 180 <br /> 1980 150,000 181 to 2t0 5� <br /> 1981 175,o00 2�1 to 2�+5 5� <br /> 1982 i75,000 2�6 to 280 5� <br /> 1983 175,000 281 to 315 5� <br /> 198�+ 200,000 316 to 355 5� <br /> 1 8 200 000 <br /> 9 5 , 356 to �95 5� <br /> 1g86 200,000 3g6 to 35 5.3� <br />, 1987 200,o00 �+36 to �+75 . <br /> 1988 225,000 �+76 to 520 5.6� <br /> That the interest on said bonds shall be payable on <br /> July 1, 1971 and semiannually thereafter on the first days of January <br /> and July in each year, which said interest payments to date of <br /> maturity of principal shall be evideneed by proper interest coupons <br /> attached to each bond and maturing on the dates herein provided, and <br /> both rinci al and <br /> interest on said bonds shall be able in lawful <br /> P P <br /> PaY <br /> money of the United States of America at The First National <br /> Bank of Chicago , in the City of Chicago <br /> I1linois. The seal o� said City sha,ll be affixed to each of said <br /> bonds and said bonds shall be signed by the Mayor and be attested <br /> by the Clerk of said City, and said coupons shall be signed and at- <br /> tested by said officials, respectively, by their respective fac- <br /> s:i.mile signatures, and said officials, by the execution of said <br /> bonds, shall adopt as and for their own proper signatures their <br /> respective facsimile s�.gnatures appearing on said coupons. <br /> Section 3. That the bonds hereby authorized shall be <br /> payable to bearer provided, however, that such bonds ma.y be subject <br /> to re i,str tion s <br /> g a a to principal in the name of the holder on the <br /> books of the Treasurer of said City, such registration to be evi- <br /> denced by notation of said Treasurer upon the back of such bonds so <br /> -3- <br />
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