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HomeMy WebLinkAbout1972-12-11 44-AA ORDER44 -AA
Introduced by Councilor Brountas, Bar. 11, 1972
CITY OF BANGOR
(TITLE.) &® rjrr, ............Temporary Tax lose - 1973 ........... _.....
By the City ComnW of Me City ofBaBFvM
ORDERED,
THAT for the purpose of procuring a temporary loan or loans inanticipation
of the receipts from taxes far the fiscal year 1973, the City Treasuzezbe and bereby
is authorized and directed to borrow, pursuant to Section 30 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, asup or not
exceeding at any one time Outstanding, Five Million boilers ($5,000.000)8 Said SUM
being less than eighty per cent (808) of r received from taxes during the pre-
ceding fiscal year, and toe cute and deliver a note or nates 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 o replacement thereof shall be pay-
able o r before December 31. 1973, maid notes shall be issued i -interest
bearing form and discounted at a rate approved by said Finance Committee;
THAT subject t0 the limitations imposed by this order, any Such notes may
at or after their maturity be paid on replaced by the issuance of new Notes; and be
it further
OR➢ER®, THAT the note or notes issued pursuant to the preceding Order
shall tame the authenticating certificate of the Merrill Trust Company, Bangor, Maine,
and that Ropes and Cray of Boston, Massachusetts shall be requested to render an
opinion or opinions approving the validity of said note or notes.
44 AA
-CENED
ORDER
IN2 OEC -7 Mj 4::-
CITY CLCAR'S OFFICE Title,
,,i... .. o VL°I' ..xeseorazi• Tm Loan - 1973
.. ...........................
INCITY COUNCIL ......................................
Dec. 11, 1972
Passed let reddin9 by the following yea
area no vote: Councilors voting Yee: Introduced and filed by
Gass, wHenderson, Needham,
hctConsiderSpeirs. ✓ v../ %/i^A.{/ew- 4
Cseaeiig.lcloNeabsent. Consider coiaer next Councils n
cx me
IN CITY CWWIL
Dec. 27, 1972
PASSED 2:M and final reading by the
£ollosin9 yea and no vote: cauKilors ,
voting yes: Balaacci, Ballon, eigney,
Brounteer Gass, Henderson, Mooney.
Needham, Speirs.
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