HomeMy WebLinkAbout1980-03-10 123 AH ORDER123 All
Introduced by Councilor, Soucy, Farah 10, 1980
CITY OF BANGOR
(TITLE.) (91.iErt...............MirportLine.f creel[ ...... _...
13y the City Council of the atr Of Bangor:
;Q:7IIbr tt�l7
T"T forthe purpose of estabI i shins a line of credit for a temporary
loan or loansanticipation of sales of turbo fuel, the Finance
Director be and hereby is authorized and ddrected to borrow,at one time
or From time to time, under the direction and with the approval of the "
Chairman of the City Council and the Finance Committee, asum r sums
not exceeding at any one time outstanding, Four Million Dollars
($4,000,000), and to execute and deliver a note o notes of the City
of Bangor, therefore, signed in his official capacity as Finance
Director and by the chairmanof the City Council.
THAT all of said notes or any r r
renewal o replacement thereof shall be
payable on or before December 31�1980, said notes shall be issued in
interest bearing form at a rate to be negotiated;
THAT subject to the limitations imposed by this order, any such notes
may at or after their maturity be paid or replaced by the Issuance
of new notes.
12] AN
0R DER
IN CITY CWILIL
March 10, 1980 Ttue, '80 MAR-6 P351
passed
1(ux) port ISre of c ait ,s; �,, ,,, ,,, REGEi'+�,_P
cimY c me C CITYECLEFIK
.......................................
Introduced a ff by
/ i cSlmen