HomeMy WebLinkAbout1969-12-08 36-X ORDERI -. " 36-x
Introduced by Councilor Cohen, Dec. 8, 1969
o T: CITY OFN BANGOR
(TITLE.) Mrbrr,-.._ lbmperary Tax Loin - 1970 _..
BY We City Catoua! of Wa City of Banger:
THAT for the purpose a procuring a Temporary loan or loam in
anticipation of the receipts from taxes for the fiscal year 1970, the City
Treasurer be and hereby is authorised and directed to borrow, pursuant to
Section 10 of Ar ae 6 of the City Charter, at oma time or from tire to
time, under the direotiort and vlth the approe 1 a the Chaiimev a The
City Council and the Finance C®ittes, a sum or sum mt exceeding at any one
tim ontatandingp Four Y im Five Hundred Toousaad (i4e5WICGo), said a=
being less than eighty per east (80%) a revenue received from taxes during
the preceding riecal year, and to execute and deliver a note or mates of the
City a Badger therefor, signed in hie official capacity as City Treeemer
and by the Chairman of the City Couro3.l; -
MT all of said notes or aby remeal or replaomant thereof
shall be payable on or before Docemter 310 19700 said mates shall be issued
in mndntereet bearing form and discounted at a rate approved by said
Finance Cottee;
My subject to the limitatfom imposed by this order, any arch
notes may at or after their unturlty be paid or replaced by the isavame
of nen Notes; arM be it further
00F. 1 MT the note or notes issued pursuant to the preceding
order shell bear the authenticating certificate a the Wroharrte National
Bank of Bangor, Naim add that Ropes and Grey of Boetory HeasaUusetts
shall be requested to redder an opinion or opinions approving the validity
of said note or rotes,
-PC
Re. CB71969cNCIL
Passed 1st reading by tM following
yes and no vote: Councilors voting
East Saldacci, Ballou, Barry, BLOUntas,
Cohen, B Nrisky, Nealley.
Councilor Coxa absent To be considered
next meeting.
CLERK
IN CITY COUNCIL
Dec. 22, 1969
PASSED 2M reading by the following
yes and rd, vote: Cbnncilors Voting
yest Ealdacci, Ballo,, Barry, Brountas,
Cohen, Cox, D'Ecrico, Minsky, Nealley.
CI ERI(
MXXXXX 36-X
0 A I E R
Title,
TempMazy x - 1970
Introduced and filed by
Councilman