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HomeMy WebLinkAbout1971-11-22 35-Z ORDER35-Z ` Introduced by Councilor Bigney, Nov. 22, 1971 CITY OF BANGOR (TITLE.) (Pritera Authorising 1psae..pf_$30%000 Principal Amount of Notes for the purpose of the Construction of New Domestic Terminal Building at Bangor Inter - By Nie City Conseil of the City of Baxter: ORDERED, THAT pursuant to Section 8 of Article 6 of the City Charter (Private and Special Laws of 1931) c. $4) and acts miendatory thereof and additional thereto, the City Treasurer, with the approval of the Finance CoaaSttee and the Chairman of the City Council is hereby authorised and directed to prepare, issue and sell on the credit of the City, a negotiable note or notes of the City of Bangor in the aggregate principal am. of Three Neutral Thousand Dollars ($300,000), said notes to be musbered from one upwards, to be dated as to date of issue and to be payable March 1, 1972 and to be in the denowinations of $100,000 and or any multiples thereof. , Said notes ere to bear Interest payable at maturity at such rata as any be specified by the successful bidder and as will meet the terms of said sale, and both principal and interest are to be payable at the offices of the Merchants National Bank of Bangor in Bangor, Maine. Said notes are to be executed for and In the nuns and under the seal of the City of Bangor by the City Treasurer and cobutersigned by the Finance Cosmittee of the City Council. The proceeds of said notes are to be used for the purpose of construction of new Domestic Tensional Building at Bangor International Air- port, the estimated useful life to be at least 20 years. Said notes shall be in sub- stantially the following form: United States of "arise State of Maine City of Bangor No. $ (Date) The City of Bangor, in the State of Maine, for valuable consideration promises to pay to bearer the sum of Dollars ($ ) on the iat day of March 197P, with interest at the rate of per aooum payable at maturity. Principal and Interest are payable at the offices of the Merchants National Barr of Bangor in Bangor, Maine. This is me of an issue of notes in the aggregate principal amount a Three Hundred Thousand Dollars ($300,000), authorised under arta pursuant to the applicable provisions of the City Charter, Revised Statutes of Maine and Order of the City Council duly adoptetl on to raise foods for the purpose of the construction of the new Domestic Teamiool Building at Bangor International Air- port. 35-Z IN CIT COUNCIL Dec. 13, 1971 PASSED 2nd and final reading by the following yes and no vote: Councilors voting yen: Baldacci, Ballou, Biscay, Brountas, Cohen, Henderson, Mmasyx Needham. Councilor voting no: Gass. Councilor share Mooney. OR➢ER IN CITY COUNCIL Nov. 22, 1971 Title, mtion to suspend the ordinance requiring the filing of an order failed by the following yes and no vote: Councilors ..$VFF. {sane. of, �'otea, {300;000,Poz voting yes; Baldacci, Bigney, Cohen, Mooney, Needham. Councilors voting Construction of Terminal Bldg. RIA no: Brountas, Gass, Henderson. Councilor ...................................... Ballon absent, action to reconsider _ passel by the following yes and no vote:. (/ Councilors voting yes: Baldacci, Bigney, \ induced els ly decanter, Cohen, Henderson, Mooney, a Needham. Voting no; Gose. Notion to suspend the ordinance requiring.... " -Z .... the filing of an order passed by the Nnc following yes and no vete: Councilors voting yes: Baldacci, Bigney, Essences o Cohen, Henderson, M oney, Needham. Councilor rating 'n Gass. Councilor Ballow absent. This order was then received and Passed 1st reading by the following yes and n vote: Baldacci, Bignay, Decanter, Cohen HeM ¢'e on,Mucney, Mashes. Voting oaGGaass. seat meeting. I�Consider �CITY CHINK IN CIT COUNCIL Dec. 13, 1971 PASSED 2nd and final reading by the following yes and no vote: Councilors voting yen: Baldacci, Ballou, Biscay, Brountas, Cohen, Henderson, Mmasyx Needham. Councilor voting no: Gass. 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(OF ART DOCAPENT IL 1971 at 3 An o Pink 111 AM ,,.A. JAMP To WAIT, ON c"Ovic 11 'be cauct, GAP be PON 51 May CAINE. TAPE I 'Ile" "I PACE Pa. 3, 111 s'} It is hereby certified that all acts, formalities and conditions essential to the val- idity hersof have been performed and complied with and that this note, and the Issue of which it tome a part, ars within every debt and other limit prescribed by the Constitution and taws of the State of Maine, and the Ordinances, Orders and Resolve of the City of Bangor, but this note shall not be valid unless and until the auth- enticating certificate of said Merchants National Bank of Bangor In Bangor, Maine has bean signed hereon. IN WITNESS WHEREOF, the City of Bangor has caused its corporate seal to be affixed hereto and this insttisent to be signed in its nave and behalf by its Treasurer and countersigned by at least a majority of the Finance Committee of the City Council. Countersigned CITY OF BANGOR By Treasurer Finance Camittee AUTHENTICATING CERTIFICATE OF THE MERCHANTS NATIONAL BANK OF BANGOR, RANCOR, MAINE The Merchants National Bank of Bangor in Bangor, Maine hereby certifies that this is one of the notes referred to in the withinaentioned proceedings as authorized thereby; that the signatures affixed to this note are genuine; and that Messrs. Ropes and Cray of Boston, Maeaachusetts have rendered an opinion that this note is a valid obligat- ion of the aunicipality mentioned. TM original opinion and copies of the supporting documents relating to this issue may, be examined in cur beaking roars. MERCHANTS NATIONAL BANK OF RANCOR By Authorized officer Be it further OREERID, That the City Treasurer, with the approval of the Finance Conittee and the Chaiaman of the City Council, is hereby authorized and directed to prepare, issue and sell the notes herein authorized at public sale, at not lees then par and accrued interest to data of delivery, in such roamer, at such time and upon such tens as he shall determine, with approval as aforesaid, and to give a receipt for the payment a the purchase price for said notes and to do all things necessary or proper, subject to this order and applicable provisions of lax, to effectuate the issue and sale of said notes. And be it further ORDERED, That in each of the years during which any of the notes are outstanding there shall be levied a tax in an emobat which, with other revessues available for the purpose, shall be sufficimt to pay the interest on said notes payable in such year end the principal of such notes maturing in such year. Md be it further ORDERED, That Mesers. Ropes and Grey of Boston, Massachusette, be requested to render and opinion approving the validity of the notes authorized by this Order.