Loading...
HomeMy WebLinkAbout1973-12-10 26-AB ORDER26 AB Introduced by Councilor ereuntas, December lo, 1973 CITY OF BANGOR QITLEJ MrDer, :f. eomry Tax ]nen.-.1974 .. _. _.... By the aty Cma cN of City of Bander. - ORDERED, SHAT for the purpose of procuring a temporary loan or loans in anticipat- ion of the receipts floe taxes for the fiscal year 1974, the City Treasurer be end hereby is authorized and directed to borrow, pursuant to Section 10 of Article 6 of the City Charter, 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, a em or gams art careening at any use time outstanding, Five Million Five Hundred Thousand ($S,5o0,0DO), said am being less than eighty per cent (HG$) of revenue received fora taxes during the preceding fiscal year, and to execute and deliver a note or rotes of the City of Bangor therefor, signed in his official capacity as City Treasurer and by the Chairman of the City Council; THAT all of said notes or any renewal or replacement thereof shall he pay- able on or before December 31, 1974, said notes shall be issued in non-interest hearing four and discounted at a rate approved by said Finance Committee; THAT subject to the limitations imposed by thin order, any such notes may at or after their maturity be paid or replaced by the issuance of new Notes; and be it further ORDERED, THAT the note or notes issued pursuant to the preceding order shall bear the authenticating certificate of the Mambants National Bank of Bangor, Bangor, Halle. and that Rupee and Gray of Boston, Massachusetts shall be convected to reader an opinion or opinions approving the validity of said note or notes. IN CITY COUNCIL Cecem e[ IO, 1973 PAMED. xmY clans 2e AS O R D E R 3.6 Title, .WTe9.iaz. STM, . 1974............ // troLuced a 'led by san Council RECEIVED 1973 NOV 29 AP 9:59 CITY CLEWS OFFICE CITY OF BANGOR, MAINE