Ordinance 987-83 - Laserfiche WebLink

if not registered, by publishing such notice once in the official newspaper of the City at least ten days prior to that call date. Interest shall not exceed the rate of 12% per annum. The notes may have call provisions as specified by the City Treasurer . Both principal of and interest on the notes shall be payable solely out of the "Local Improvement Fund, District No . 711" from the proceeds of local improvement district bonds authorized to be issued by Ordinance No . 887-82 to be deposited in such fund and/or prepaid special benefit assessments deposited in such fund, and/or the City' s share of the costs of the improvements in LID No . 711, and/or the issuance of additional bond anticipation notes in a total amount sufficient to redeem the notes authorized by this ordinance, and from the Local Improvement Guaranty Fund of the City. The notes shall be payable in lawful money of the United States of America at the office of the City Treasurer or, at the option of the holder, at either fiscal agency of the State of Washington in Seattle, Washington, or New York, New York. The City Council declares and finds that the fixing of the above maximum interest rate and index for variable interest rates is in the best interests of the City. Section 2 . The notes shall be printed, lithographed or typed on good bond paper in a form consistent with this ordinance and state law. The notes shall be signed by the City Treasurer , attested by the City Clerk, and shall have the seal of the City affixed thereto . Section 3 . The City Treasurer is authorized to negotiate the sale of the notes consistent with the terms of this ordi- nance . The City shall furnish to the purchaser the printed or typewritten notes and the approving legal opinion of Roberts & Shefelman, municipal bond counsel of Seattle, Washington, at the City' s expense . Bond counsel shall not be required to review - 3 -