HomeMy WebLinkAbout1973-10-24 283 AA ORDER283 AA
Introduced by Councilor Hrouutas, October 29, 1973
_,q CITY OF BANGOR
(TITLE.) Mrbff, __Authorizing $700,000 Aggregate Principal Amount
of Notes in Anticipation of Federal Aid
By the City CoanoS of the City ofBantmr.
ORDERED,
THAT pursuant to Title 30, Section 5153, of the Maine Revised
Statutes and acts in amendment thereof and in addition thereto, the
City Treasurer, with the approval of the Finance Committee and the
Chairman of the City Council, is hereby authorized to borrow the am
of $700,000 in anticipation of the receipt of federal aid payable to
the City pursuant to a grant agreement entered into with the federal
government in connection with the so-called tcendusksag stream inter-
ceptor sewer project and to issue a general obligation note or notes
Of the City therefor payable in not more than four months from the data
thereof. Said note or notes shall be signed by the City Treasurer and
countersigned by the Chairman of the City Council and shall bear such
rate of interest as shall be determined by the City Treasurer with the
approval of the Finance Committee and the Chairman of the City Council.
As provided by said Section 5153, to any extent that the
federal aid in anticipation of which said notes were issued when received
exceeds the amount of such aid remaining to be paid under said grant
agreement plus the amount of any outstanding notes issued in anti-
cipation thereof, it shall be kept in a separate account and used solely
for the payment of said notes.
S object to the provisions of this order and other applicable
provisions of law, the City Treasurer, with the approval of the Chairman
Of the City Council, is hereby authorized to determine the date,
maturities, place or places of payment, form and other details of said
notes.
Itl
263 AA C pf�
IN CITY COUNCIL R CEIVED
October 24, 1973
Passed 1st reading by the 1911 Ev 19 0.1411'41
following yes and no v ter 0 R D E R
Councilors voting yea: Ballow CITY CLERM'S OFflCf
ealdaea, Higney, Brountas, Title, v rp WV11R. MAINE
Gass, Henderson, Mooney, Needham,
Speirs- Consider next meeting.
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CITY C Amt, cf Notes in Antic. of Fed. Aid
IN CITY COUNCIL
November 12, 1973 Introduced and filed by
Passed 2nd and final reading by
the following yes and no vote:
Balli, Hs v ti ci,
alder, ,geyexcuras, Gass,
Henderson, Mo ey,N6edham, Speirs, ffffff coancilman
CITY C