HomeMy WebLinkAbout1966-12-28 46-U ORDERA6�
Introduced by councilor Barry, Dec. 28, 1966
CITY OF BANGOR
(TITLE.) (OTbtT, -_.. TempprW Tae Loan 1962
By tM Cuy Council of the City ofBamysr.
ORDERED,
TUT foe the purpose of procuring a temporary loan or loans in antici-
pation of the receipts free tares for the fiscal year 1969, the City Treasurer
be send hereby is authorised and directed to borrow, pursuant to 5ection 10 of
Article 6 of the City Charter, at one time or from Lisa to time, under the
direction and with the approval of the Chairman of the City Council and the
Finance Committee, a a= or some net exceeding at any one time outstanding,
Three Million Dollars ($3,000,000), said am being leas than eighty, per cent
(80%) of revenue ceived from taxes during the preceding fiscal year, and
to execute add deliver a note or notes 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 or replacement thereof shell be
payable on or before Deserter 31, 1962, said notes shell be issued inn -
interest Bearing form and discounted at a rate approved by said Finance
C®mittee;
THAT, subject to the limitations deposed by this order, any such notes
may at or after their maturity be paid or replaced by the issuance of new
notes; and be it further -
ORDER®, MAT the note ornotes issued pprecedingant to the preceding order
shall bear the authenticating certificate of the Merehante National Bank of
Bangor, Maine and that Ropes send Gray of Boston, Massachusetts, shall be
requested to render an opinion or opinions approving the validity of aid
note or notes.
46-U
._3JEIVED
1966 DEC :4 PM 9. C4 aRDER
CITY CLERK'S OFFICE Tine,
"J -: a M: c•
IN CITY OJUNCIL T®F°T"'9 Tax Loan 1967
.......................
Dec. 28, 1966
PASSED ............ I .........................
duced and fled by
CS CLFAK