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Authorizing the issuance and sale of bonds in order to provide funds for application on the cost of the payment and redemption of certificates of indebtedness issued by the City in payment of the City's share of street and alley intersection assessments
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Authorizing the issuance and sale of bonds in order to provide funds for application on the cost of the payment and redemption of certificates of indebtedness issued by the City in payment of the City's share of street and alley intersection assessments
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
9/10/1962
Ord-Res Number
4501-62
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Prior to the delivery of said bonds the City Controller shall be <br />authorized to obtain a legal opinion as tot he validity of said bonds <br />from Ross, McCord, Ice & Miller, bond counsel of Indianapolis, and to <br />furnish such opinion to the purchaser of said bonds. The cost of said <br />opinion shall be considered a part of the cost of said projects, and <br />shall be paid out of the proceeds of said bonds. <br />Section 6. The City Controller is hereby authorized and directed <br />to have said bonds and coupons prepared, and the Mayor, City Controller <br />and City Clerk are hereby authorized and directed to execute said bonds <br />and the interest coupons to be attached thereto in the form and manner <br />herein provided. After said bonds shall have been properly executed, <br />the City Controller shall deliver the same to the City Treasurer, and <br />shall take his receipt therefor, and upon the consummation of the sale <br />of said bonds the City Controller shall then certify to the City <br />Treasurer the amount which the purchaser is to pay for the same; there- <br />upon, the City Treasurer shall be authorized to receive fromthe <br />purchaser the amount so certified by the Controller and to deliver <br />the bonds to such purchaser. <br />Section 7. This ordinance shall'dbe in full force and effect <br />immediately upon its passage and signing by the 1 °iayor. <br />m er' f the ommon Council <br />r�r <br />
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