HomeMy WebLinkAbout1969-10-13 301-W ORDER-' 301-W
Introduced by Councilor nallou, act. 13, 1969
CITY OF BANGOR
(TITLE.) (Prbff,. *u,m-isina +1,e..Taauanca of $105,Co0,90 xote.Issue for
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Iioprov menw at, Bangor International "Ktrt,
By the City Cessna of the City of Ranges.
ORDERED,
THAT pursuant to Section 8 of Article 6 of the City Charter (Private
and Special Lane of 1931: a. 54) ar:d rete amendatory thereof and additional
thereto: the City Treasurer, with the approval of the Finance Committer and
the Chairman of the City Cornea is hereby authorized and directed to pre-
pares issue and sell on the credit of the City: five negattable notes of the
City of Banger in the aggregate principal arm of Cron Hundred Ffve Thousand
Dollara ($1.05,000), said notes to be numbered was beep three four and river
each in the principal amount of Taantyb Thousand Dollars (21s000), rad
all dated December 1, 1969. Note number ere to be pe�ble December 1, 1970,
note ember two to be p able December 1, 1971s note ember three to be pa -
able December 1, 1972, note number four to beprYrain December 1, 1773 and
onto ember rive to be payable December 1, 1971ye'
Said notes axe to bear interest pubis at such rates
as will met the terms of said sale and both principal and interest are to
be payable at the officesof the Wralmnts National Sank of Bangor, in Bangers
War, Notes are to be in registrable form, callable without premium on at
least seven (7) days notice, Said notes are to be executed for and in the name
and order the seal of the City of Bangor by the City Treasurer and enunteiaigred
by the Finance Coffittee of the City Council. The proceeds of said notes are to
wed for a perva[rent public i.vprove®rrt consisting a IWMm Ascents in the
InteTTational Arrival Building, Possenger Conoen'Ce and Iasprovanants to Hanger
#252 of a lasting character, the estimated period of tr1 ty of which is here-
by determined to be at least ten years. Said notes to be substantially in the
fallcxing form:
United states of Arica
State of Maine
City of Danger
We. $
The city of Bangers in the State a Maims for valuable consideration
proaises to M to registered assigns the sum of
Dollars ($ ) on tae day of
with interest at the rate of per aranm p able aevd�ually.
Principal and interest are payable at the offices of the
Mrchants National. Cook of Bangers in Barger, Maine:
This note is ono of a series of notes aggregating One Hundred Five Thousand
Dollars (¢105$000) in principal amoamt, authorized order and pheasant to the
applicable provisions of the City Charters Revised S-,atutes of ]rain and
Order of the City Council duty adopted on to mise faMil for
Impievaesnts in the International Arrival Buildings Fassenmv Concourse and
Inprowwants to Hanger P 252 as provided in said Order.
Mesa notes shall be callable without pranim at any ties on seven (7) day
written or public notice.
It is hereby certified that all acts, formalities and conditions essential to
the validity bereof have been perfected and complied with and that this note
is issued and was at the time it was issued within every debt and other limit
prescribed by the Constitution and Lass of the State of Maines and the Crdi-
nences, orders or Resolves of the City of Hangar, but this note ahaU. not be
valid unless and until the authenticating certificate of said Merchants National
Bands of Bangor, In Bangor, Maines has been signed hereon,
Is WITNESS oHE2eOFs The City of Bangor has caused its corporate seal to be
affixed hereto and this instn>esnt to be signed in its nate and behalf by its
Treasurer had countersigned by at least a majority a the Fimmaee Comattse of
the city Coaw"
Couhemigned CITY OF WCOR
By
Treasurer
Finswe Cottee
AUTHENTICATING CERTIFICATE OF THE iff.R4TWITS NATIONAL
BANG OF BANCoR, M BANGOR, am
The Morchanhs National Back of Baegor, in Bangor, am'..o hereby Certifies
that this is the note referred to in the withineentioned proceedings as
autharlead thereby; that the signatures afi d to this note are genuine;
and the wesrs, Ropes & Gray of Bostons Nassaehuseta have readered an
opinion that this nota isa valid obligation of the municipality cautioned,,
The original opinion andcopies of the supporting docuoants relating to
this issue my, be exsmvad in a= backing room,
MERCHANTS NATIONAL BANN OF BANGOR
py
Aatberized Officer
O=D, That the City Treasurer, with the approval of the Finance Committee
end the Chairman of the City Council, is hereby authorized and directed to
prepare, ss ue and sell the notes herein authorized at public sale, at not
less than par and accrued intarest to date of delivery, in such censer, at
such time and upon such terms as he shall determine, vith approval as afore-
said, and to give a receipt for the pint of the pvrc2oase price for said
notes and to do all things necessary or proper, subject to this order and
applicable provisions of law, to effectuate the issue and sale of said notes.
And be it further
OBD12MD, that in each of the years during which any o' said notes are out-
standing, there shall be levied a tax in an descent M --eh, with other revenues,
If aro, available for the pnrpoae, shall be sufficien, to pay the interest
upon said notes payable in such year and the principal of said notes maturing
in such year.
And be it further
OIOBRBD, that Wssrs, Cases & Gray of Boston, Massachusetts, shall be re-
quested to rander an opinion eproving the validity of the notes authorized
by the preceding order,
And be it further
ORD=j that the City Clark be directed to give public entice of this Order
by the issuance of notice as required by the Charter of the City of Bangor.
IN CITY COUNCIL
13, 1969
Amended by substituting a now order
containing a callable clause. AS
amended paeaed 1st reading by the
following yes and novote: Councilors
voting yest Balled, Perry, Cox, D'Errico,
Houston, McKay, Mine Ry, Nealley, Porter.
Tabled.
IN CITY CO�TL
Taken, it= table, hearing held, PASSM
2nd and final reading hy the following
yes and no vote: Councilors voting yeS:
M"53;yl Nealley, Porter. Councilor
Houston absent.
TY CLERK
301-W
ORDER
Title,
Auto. Issuance of $105/Oo0 Note Issue
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IMeRyementa, At, WAFP P?PAAJ. AFFpPFt
Intro due an tiled b
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