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Home My WebLink About1968-11-25 31-W ORDER31-W Introduced by Councilor Houston, Nov. 25, 1968 CITY OF BANGOR M. (TITLEJ @rber*..Authprizing. the Issuance. of.$500,OQo,W. Principal Amwnt of .Notes for. Vbo Purge e. of the Materceptoi_S,mar and Treatment Plant and. City Hell Improve®nts• BY His City Cn u:B2 of W City ofBan¢ar: ORDERED, TWT pursuant to Section 8 of Article 6 of the City Charter (Private and Special laws of 1931* c• 94) and acts amendatory thereof and additional thereto, the City Treasurer* with the approval of the Finance Comdttee and the Chairman of the City Council is hereby authorized and directed to prepare* issue and sell mn the credit of the City* a negotiable nota or notes of the City of Bangor in the aggregate principal me of Five Hundred Thousand Dollars ($500*000.00), said notes to be num- bered from me upwards, to be dated as to date of issue and to be payable March 1, 1969 and to be in the denominations of $25,000.00 and or aro multiples thereof, Said notes are to bear interest payable at maturity at such rate as may 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 1Prchants National Hank of Bangor in Baegor* Naiae, Said notes are to be executed far and in the nam and radar the seal of the City of Bangor by the City Treasurer and countersigned by the Finance Comdttee of the City Council, The proceeds of said notes are to be need for the purpose of the Intercepter Sewer and Treatment Plant and City Hall Ivpravemsnta. United States of Amarica State of Maine City of Bangor No $ (Date The City of Bangor, in the State of Adair, for valuable consideration promises to pay to bearer the sum of Dollars ($ ) an the lat day of Uhroh 1959, with interest at the rate of per annum payable at raturity, Principal and interest are payzble at the offices of the ibrchants National Berk of Bangor in Bangor, Maine, This is one of an issue of notes in the aggregate principal ammant of Ave Hundred 1"nousard Boilers ($500,000.00), authorized under and pursuant to the applicable proviaions of the City Charter, Revised Statutes of Maine and Order of the City Conseil duly adopted on to raise funds for the purpose of the Interceptor Sewer and Treatment Plant and City Hall improverents, as provided in said Order, It is hereby certified that all acts, formalities and Conditions essential to the validity hereof Faye been perforned and complied with and that this note, and the issue of which it fors a part, are within every debt and other limit prescribed by the Constitution and Lose of the State of !chine, and .he Cadinances, Orders and Resolve of the City of Bangor, but this note shall not be valid unless and until the authenticating certificate of said l8rchants Nation: Bank of Fenger in Bangor, Maine has been signed hereon. IN WITNESS AHEAS'CF, the City of Bonsor has caused its corporate seal to be affixed hereto and this instrument to be signed in its name and behalf by its Treasurer and countersigned by at least a majority of the Finance Co®ittee of the City Council, Countersigned CITY OF BANCCA Committee 0 Treasurer AUTHENTICATING CERTIFICATE OF THE MERCHANTS NATIONAL BANK OF BANGOR, MOOR, AM The Merchants National Bank of Bangor in Fenger, NPine hereby certifies that this is we of the notes referred to in the wlthLwsntiored proceedings as ant verized thereby; that the sisnaturae affixed to this note are genuine; arra that Pierce, Atwood, Scribner, Allen and MbKusick of Portland, !eine have rendered an opinion that thin note is a valid obligation of the mnicipality mentioned. The original opinion and copies of the supporting documents relating to this lease may be examined in our banking rooms, MERCHANTS NATIONAL BW OF BANGOR By Authorised officer Be it further ORDERED, That the City Treasurer, with the approval of the Fiance Ccmmittee and the Chairmen of the City Council, is hereby authorized and directed to prepare, issue and sell the rotes heroin authorized at public sale, at not less than par alri accrued interest to data of delivery, in such manner, at sack tinn and upon such terms as he shall deterednee with approval as aforesaid, and to give a receipt for the payment of the purchase price for said notes and to do all things necessary or proper, subject to this order and applicable provisions oI law, to effectuate the issue and sale of said notes, AM be it further ORDERED, That Pierass Atwood, Scribner, Allen and McKusick of Portland, Maine shall be requested to render an opinion approving the validity of the notes authorized by the preceding order, And be it fu ?her CIdIEI s That tbs City Clerk be directed to give public notice a this Order by the issuance of notice as rsqu I by the Charter of the City of Bangor. And be it further 00=1 that an amount sufficient to meet the payment of principal and interest shall be included in Ube tax levy fon 1969 unless prior thereto the debt represented by said notes has been extinguished. RECEIVED 1968 Nal,. 21 PM 4:12 City Clerk's Office City of Hanger, stains IN CITY COUNCIL Nov. 25, 1968 - Amended be, substitution and as scandal passed 1st reading b y the following yes affi no vote: Councilors voting yes: Baldacci, Ballon, Barry, Cox, Houston, Musky, Neallay. Porte=. councilor McKay absent. Tabled CTT CLBPK IN COUNCIL Dec. 9, 968 Taken from is, amended amended PASSED 2M a� adi ng by as following yes and n vet voting yes: Baldacci,o , Harry, o Houston, McKay usky.on IN CITY COUNCIL 9, 1968 Taken from table, amended by adding after the 2nd paragraph the following: "Said notes to be substantially in the following form". As amended PASS® 2nd and final reading by the following yes and no vote: councilors voting yes: Baldacci, Ballon, Barry, Cox, Houston, McKay, Minsky, Nealley, Porter. 31-W O ROER Title, Avth. $500,000 Notes for Interceptor ...................................... Sewer and Treatment plant 6 City Hall Improvements .l ................. ......• Introduced and filed by .:: comcilmmul ANDY G SON UPEREAR ATTORNEYS AT LAW DONALD SO PERKINS DONALD A NOWELIN DO DATA November 29, 1968 Joan G. Field . aasurer City Hall Bangor, Maine Dear Mr. Field: Referring to your latter of November 2$ enclosing a sample of the type of Note that might be used, I have reviewed the same and revised it to conform more closely to the form of the Note contained in the Order. I enclose herewith the suggested form of Note. In looking again at - o Order w- you sent a as having been introcuced _. I note �ttat a sentence was omitted from the Oree as you read is to me over the telephone. In t1., Order as was read to me over the telephone immedia.ely before the form of the Note and after the words "City Hall Improvements." on page 1 there was the following sentenca,: "Said notes to be ecbs'inntially in the fcl'.%.-aZ for_.. , I do not 'tel orstzz .Now this sar:;o ue see;r; so to omitted, but a should be added back by a;.:andmant Of the Council, Will you please call ca about t:.ia matter. Very truly yours;