1976 CC Minutes & Resolutions - Laserfiche WebLink

Home Browse Search

';This Bond is one of the Bonds of the series designated herein issued pursuant to the resolution authorizing its issuance ana'"delivery." Bank of--.--------------- By Its Au"thorized Officer--- The bonds when fully executed, shall be delivered by the City Clerk-Treasurer to the purchaser thereof upon receipt of the purchase price, and the said purchaser shall not be obligated to see to the proper application thereof. , t ! , I f I l t [ I i I I 7. The bonds issued hereunder shall be payable from the General Obligation Improve@ent Bonds of 1977 Fund hereby created, and the proceeds of general taxes hereinafter levied and special assessments to be levied for the improvements financed by these bonds are hereby pledged to said fund. If any payment of~ principal or interest on said bonds shall become due when there is not sufficient money in said.fund to pay the same, the Clerk-Treasurer shall pay such principal or interest from the general fund of the City and such fund may be reimbursed for such advances out of proceeds of assessments for said improvement when collected. 8. It is hereby determined that the City will levy special assessments for the said improvements in the principal amount of at least 20% of the cost of said improvement. To pay the City's share of the cost of such improvement, there is hereby levied a direct annual irrepealable ad valorem tax levy against all taxable properties in said City, which tax levied shall be in the years and amounts as follows: (Year stated being year of levy for collection the following year.) YEAR LEVY YEAR LE"VY ----.---- 1977 $22,917 1986 $19,163 1978 $26,670 1987 $18,960 1979 $26,284 1988 $18,710 1980 $25,897 1989 $18,413 1981 $25,511 1990 $18,092 1982 $25,124 1991 $17,747 1938 $19,488 1992 $17,403 1984 $1~,379 1993 $17,011 1985 $19,271 1994 $16,619 , , < -! "