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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