Ordinance 3768 - Laserfiche WebLink

The city shall acquire all materials and equipment, real and personal property or interests therein, easements, franchises and rights-of-way necessary to carry out the above-described plans, which are all as more specifically described and set forth in maps, plans and specifications now on file in the office of the City Clerk. It is hereby further provided that such plans shall be subject to such additions or changes as to details or other changes not affecting the main general plans as hereinbefore set forth as may be authorized by the City Council either prior to or during the actual course of construction. " Section 3 . That Section 2 of Ordinance No. 3712, adopted April 1, 1959, be and the same is hereby amended to read as follows : "Section 2 . The estimated cost of acquiring, constructing and installing such additions and improvements to and exten- sions of the system of sewerage of the city is hereby declared to be, as nearly as practicable, the sum of $3, 790, 000, which cost shall be provided from a $250, 000 Government grant, from cash now in the Sewer Revenue Fund of the city and available for such purposes, and from the sale of sewer revenue bonds of the city in the principal sum of $2, 700, 000 . The city shall proceed to acquire, construct and install the various parts or portions of said plans of additions, im- provements and extensions to the System in such order and at such time or times as found to be necessary and advisable and to the best interest of the city and its inhabitants . This authorization shall not preclude the city from the issuance and sale of additional bonds to complete the ac- quisition, construction and installation of such plans of improvements in the event the proceeds of the sale of the Bonds and such additional available moneys are found to be insufficient . " Section 4. The city does hereby propose and adopt as an integral part of the plan for acquiring, constructing and in- stalling the additions and improvements to and extensions of the System authorized in Section 2 of this ordinance that it shall issue the Bonds . The Bonds shall be dated September 1, 1960, shall be in denominations of $1, 000 each, shall bear interest at a rate of not to exceed 6% per annum payable semiannually on the first days of March and September of each year, and shall be numbered and mature in order of their number as follows : -14-