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Purchase of Land and the Construction , off Street Parking Facilities Issuance of revenue Bonds and Distribution of the Revenues
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Purchase of Land and the Construction , off Street Parking Facilities Issuance of revenue Bonds and Distribution of the Revenues
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1/16/2014 3:10:56 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/9/1969
Ord-Res Number
5089-69
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Sec. 6. The City Controller is hereby authorized and <br />directed to have said bonds and coupons prepared, and the <br />Mayor, City Controller and City Clerk are hereby authorized <br />and directed to execute said bonds and the interest coupons <br />to be attached thereto, in the form and manner herein pro- <br />vided. The City Controller is hereby authorized and directed <br />to deliver said bonds to the purchaser thereof after sale made <br />in accordance with the provisions of this ordinance, provided <br />that at the time of said delivery the City Controller shall <br />collect the full amount which the purchaser has agreed to pay <br />therefor, which shall not be less than the face value of said <br />bonds, plus accrued interest from the date thereof to the date <br />of delivery. The bonds herein authorized, when fully paid for <br />and delivered to the purchaser, shall be the binding special <br />revenue obligations of the City, payable out of the revenues <br />to be set aside into the Parking Sinking Fund - Project 1969, <br />as herein provided, and the proceeds derived from the sale of <br />said bonds shall be and are hereby set aside for application <br />on the cost of acquisition, construction and installation of <br />said Project 1969 parking facilities hereinbefore referred to, <br />and the expenses necessarily incurred in connection therewith <br />or in connection with the issuance of bonds on account there- <br />of, including interest during construction if required for <br />that purpose. The proper officers of the City are hereby di- <br />rected to draw all proper and necessary warrants, and to do <br />whatever acts and things which may be necessary to carry out <br />the provisions of this ordinance. <br />Sec. 7. Prior to the sale of said bonds the City Control- <br />ler shall cause to be published a notice of said sale once each <br />- 14 <br />
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