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February 10,1971 <br /> els ar mde • <br /> The e 1sident 9 p of-the Presiding. p Roll call it wasfound <br /> a.m.February 10,1971, an Michelson that • <br /> that all Councilmen were <br /> ved.b of the meaty g ncilman Langus,seconded byyC ism be approved as <br /> eld <br /> print€ dote <br /> Unanimously <br /> • <br /> NPY s,Cite At do Yeasting of ostex ci l6 <br /> osal to the <br /> LIO 683 Marshall,Inc.,was here to present a regardingrnce e purchasiestaebond <br /> ol LID 683,more commonly Cknown as <br /> • <br /> the <br /> Avenue <br /> • <br /> Yeasting said he represented a joint <br /> Foster 6 Marshall Inc.,Southwick,Campbell,Waterman did mgrs <br /> and <br /> William P.Hto <br /> arper 6Company.he bonds to be uedaasaia theLoy <br /> Improvement <br /> District No.66 f iapproximately <br /> ef/756.810 and(PaY therefore,R100.00 ance per <br /> $ate f delivery. <br /> 00 par 70170 plus <br /> rued'in ds <br /> (1) shall b.. e of 75,1(2) xx <br /> and Tsh laded March <br /> e ive are act mature <br /> inetaandna r before March . <br /> la or videdl that they uldlaggree[ <br /> ��,I. at their option.hond 1(1)(aThe bonds 011011 beof 0Qi1V000,10enomiey nationsat <br /> furnished rwith 1 qualifiedhlegl approving npovnion o,non-litigation <br /> 0100I0ate usual form.DolmanEllis 6 (5)aFor as ondea any of he bonds <br /> are ending the City shale make additional depo 0 <br /> .,�� Utguarantee fund feet from time me as necessary and order at <br /> LLadequately p the payment of r principal a interestonn hese. <br /> bonds,an o o ions in the <br /> guarantee <br /> LID <br /> except for payments thatmightberequirethe do u ue u <br /> bonds. <br /> In ante a make <br /> easme fs t le next 600 become delinquent <br /> the guarantee <br /> shall ma deposits of a east$25,000e annually for <br /> i <br /> e afund rse beginning with t budget year the <br /> 'IIi. long <br /> e these los n 00soon <br /> delinquent.s possible <br /> ,aseesme[te <br /> 1 pursue foreclosure action as soon a sr as a n <br /> become delinquent. <br /> 4 5010 Offer is made for immediate acceptance. <br /> We assist <br /> he <br /> bond <br /> vaynet in procedures to affect the orderly <br /> attorney <br /> hese . <br /> Mckenzie,Finance Director,sale h Dula recommend�4 nt the <br /> Bank is offer ldin Foster est hearingwarrants and <br /> to end others. At panxioushem, o <br /> have[ redeemed and the city w redeem o <br /> nded <br /> acce <br /> ,� be Moved <br /> ddebbymCoounc Councilman <br /> Vognilld=seconded by Councilman Gebert the <br /> f LIP <br /> 681 bonds be acceepted by the o take <br /> anothers on the sale e he City l Clerk and <br /> sells he <br /> ed t aka hen necessary steps <br /> bonds • <br /> Treasuunder rer ethis proposal. <br /> Unanimously Carried. <br /> a c <br /> • <br /> 1 <br />