Minutes 01/23/1962 - Laserfiche WebLink

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41 TUESDAl JANUAR~ 1962 Dated, January ____, 1962. STATE C Qv1}IISS ION ON LCC,lE DEBT J. GORDfJN BENNETT, Secretary. (2) The Clerl,: of Council and the SecretarJT of the State Cormnission on local Debt are hereby anthorized to give such sale such 'Oublicity as they, in their discret'Lon, may deem advisable. ""''''.... '- ]I. RESOLUT ION PROIJIDING FOR THE ISSUANCE OF $1,300,000 SEHER BO]\J!S OF TIE CITY OF ~RT INSV ILIE . i-JHEREAS, the Cou.ncil of the City of Hartinsville desires to make provision for the issuance at this time of $1,300,000 of bonds of the Cit;! of l-fartinsville of the $2,500,000 of bonds of the City '\-lhich are authorized by the ordinance adopted b;y- the Council on January 26, 1960; NOW, THEREFORE, BE IT P..ESOLVED by the Council of the City of ~rtinsville as fol1ows: .......-... (1) The $1,300,C)()0 bonds to be issued pursuant to the ordinance entitled "An Ordinance authori,zjn[~ the issuance of $2, 5()(), ('JOO of bonds of the City of 11lrtimwilJe to finance the cost of jlTlprovinf" the City's sewag'3 disposal system and providing for the submission of the question of is:}uing said bonds to the qualified voters of the City", adopted by the Council of said City on January 26, 1960, shall be designated "Sm,er Bonds, Series AI'I and shall consist of one thousand three hurrlred bonds of the denomination of ~1,nOO each, number from 1 to 1,300, inclusive, in the order of their maturity, and shall be dated March 1, 1962, anci shall be payable in annual installments on :March 1 in each year as follov!S, viz.: $65, aOOin each of the years 1963 to 1982, inclusive. The bonds shall bear interest at a rate or rates, not exceeding 6% per annum, as determined b:r the City Council. Such interest shaD be na:rable semj,-annuaJ ly on March 1 st and Se)'"lt.ernber 1 st. (2) The moneys raised by the issuance of said bonds shan be anplie d to the payment of the cost of improving the sewage disposaJ system maintained by the City by constructinG and equ.ipDing a sevrare treatment plant to be located on a sui. table site, and by constructing the interceDtine; seuer::> necessar;r to connect the City's existing sev.rage disposal system '\-lith such sewage trE'-8.t:nent plant, and by constructi.ng additional sewers needed fo!' the coDection of' sewa,gl?', and by acquiring the lands or rights in land reouired for the making of such improvements.