Ordinance 1952 - Laserfiche WebLink

1 amount which the council and corporate authorities have determined 2 and do hereby determine to be so available, out of said gross 3 revenues for payment into the "Municipal Market Revenue Bond `und", 4 hereinafter mentioned, will be on the 1st day of January, beginn- 5 ing with January,in the year 1922, not lessthan the amount of 6 specified payable interest on said bonds at the ratestherein, p y 7 semi-annually oft the 1st day of January,1922 and the 1st day of 8 July and January thereafter on all outstanding bonds of the issue 9 of 11100,000.00 to be issued, payable at the time and in the manner 10 b.ereine.fter specified. The said corporate authorities and the City 11 Council have determined and do hereby determine, that the amount so 12 available out of said gross revenues into said "Municipal Market 13 revenue Pond Fund" ' to be used for the payment of principal of said 14 bonds, on the 1st day of January,1927, will be not less than 5000.0 15 and on the 1st day of January of each and every year thereafter, to 16 and including the year 1936, there will be so available for pay- 17 went out of such gross revenues, into such special fund, to be 18 used for the payment of the principal of such bonds, not less 19 than 5000.00 , and on the 1st day of January of each and every 20 year thereafter to and including the year 1941 there will be so 21 available for payment out of such gross revenues, to be used. 22 for the payment of principal of such bonds, not less than,10 ,000.00 23 24 Section 4: That in order to carry out the system or plan 25 specified and adopted in Section 2 of this Ordinance, the City of 26 ''verett shall issue and sell its negotiable coupon revenue bonds 27 in the sum of .1001,000.00 , or so much thereof as shall, by the 28 corporate aatthorities be deemed necessary; which bonds shall bear 29 the date of their issue and shall be of the denomination of 30 400.00 each, and shall be numbered from one up consecutively 31