HomeMy WebLinkAboutOrdinance 1321 ORDINANCE NO, 1321
AN ORDINANCE SUBMITTING AT THE GENERAL ELECTION IN THE CITY OF FAYETTE -
VILLE ON NOVEMBER 6 , 1962 , THE QUESTION OF ISSUING BONDS FOR THE PURPOSE
OF REFUNDING THE OUTSTANDING BONDS OF THE CITY ' S GENERAL OBLIGATION RE-
FUNDING AND IMPROVEMENT BONDS DATED NOVEMBER 1 , 19592 ACQUIRING A SITE
FOR AND CONSTRUCTING AND EQUIPPING A CITY JAIL AND COURT BUILDING, AC -
QUIRING SITES FOR AND CONSTRUCTING AND EQUIPPING BUILDINGS FOR THE HOUSING
OF FIRE FIGHTING APPARATUS , AND THE PURCHASE OF FIRE FIGHTING APPARATUS ,
AND CONSTRUCTING AND EQUIPPING AN EXTENSION TO THE EXISTING CITY HOSPITAL,
UNDER THE PROVISIONS OF AMENDMENT NO , 13 TO THE CONSTITUTION OF THE STATE
OF ARKANSAS ; PRESCRIBING OTHER MATTERS RELATING THERETO; AND DECLARING
AN EMERGENCY .
WHEREAS , the City of Fayetteville is a city of the first class ; and
WHEREAS , the City has outstanding an issue of General Obligation Refunding and
Improvement Bonds , dated November 1 , 1959 ; and
WHEREAS , the City Council has determined that it would be in the best interests of
the City to acquire a site for and construct and equip a City Jail and Court Building , at an
estimated cost of $225 , 000 ; to acquire sites for and construct and equip buildings for the
housing of fire fighting apparatus , and to purchase fire fighting apparatus , at an estimated
cost to the City of $300 , 000 ; to construct and equip an extension to the existing City Hospital
at an estimated cost to the City of $ 100 , 000 ( it being comtemplated that an agency of the
United States Government will participate in the cost of constructing and equipping the said
extension) ; and to refund said outstanding bonds at an estimated cost to the City of $465 , 000 ,
which estimates include necessary expenses incidental to the improvements , to the refunding
and to the issuance of bonds ;
NOW , THEREFORE , BE IT ORDAINED by the City Council of the City of Fayetteville,
Arkansas :
SECTION 1 . That there be submitted to the electors of the City at the general election
to be held on November 6 , 1962 , the question of issuing bonds in the following amounts and
for the following specified purposes , to -wit :
$225 , 000 for the acquisition of a site for and the construction and equipment of
a City Jail and Court Building ;
$300 , 000 for the acquisition of sites for and the construction and equipment of
buildings for the housing of fire fighting apparatus , and the purchase of fire
fighting apparatus ;
$ 100 , 000 for the construction and equipment of an extension to the existing
City Hospital .
$465 , 000 for the purpose of refunding the outstanding bonds of the City' s General
Obligation Refunding and Improvement Bond Issue , dated November 1 , 1959 ,
which refunding bonds will be issued only in the event bonds are approved for
one or all of the purposes above specified .
?< MICROFILMED
DATE OCT 9 1978
REEL 1
Ordinance Nd . 1321 - 2 - October 3 , 1962
SECTION 2 . That the bonds shall be dated as of the first day of December , 1962 ,
with interest thereon to be payable semi - annually on January 1 and July 1 of each year ,
commencing July 1 , 1963 , and the bonds shall mature on January 1 of each year as follows ,
but shall be callable for payment prior to maturity on such terms as the City may specify
in the Notice of public sale of the .bonds ;
YEAR AMOUNT '
1966 $ 14 , 000
1967 15 , 000
1968 17 , 000
1969 18 , 000
1910 20 $ 000
1971 22 , 000
1972 25 , 000
1973 27 , 000
1974 29 , 000
1975 31 , 000
1976 33 , 000
1977 34 , 000
1978 35 , 000
1979 37 , 000
1980 39 , 000
1981 41 , 000
1982 43 , 000
1983 45 , 000
1984 47 , 000
1985 50 , 000
1986 52 . 000
1987 54 , 000
1988 56 , 000
1989 58 , 000
1990 592000
1991 613000
1992 63 , 000
1993 65 , 000
The bonds shall be sold at public sale and shall bear interest at such rate or rates as are
accepted by the City at the sale and may be sold with privilege of conversion to an issue
bearing a lower rate or rates of interest . Any conversion must be upon such terms that the
City receives no less and pays no more than it would receive and pay if the bonds were not
converted . The conversion shall be subject to the approval of the City Council , the City ' s
fiscal agent and the Paying Agent for the bonds . The $465 , 000 of Refunding Bonds will be
issued only in the event the issuance of bonds is approved for one or more of the purposes
set forth in Section 1 of this Ordinance . If bonds are approved for all of said purposes , the
Improvement Bonds and the Refunding Bonds will be combined into a single issue with the
maturity dates and amounts set forth above . In the event bonds are approved for less than
all of said purposes , the Improvement Bonds for the purposes approved and the Refunding
Bonds will be issued with the same maturity dates but for proportionately less amounts .
Ordinance No . 1321 , - 3 - October ' 3 ; 1962
SECTION 3 . The questions shall be placed on the ballot for the election .in sub -
stantially the following form :
Vote on measure by placing an "X " in the square opposite the measure either
for or against :
For an issue of bonds in the amount of $225 , 000 for the acquisition
of a site for and the construction and equipment of a City Jail and _
Court Building . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Against an issue of bonds in the amount of $225 , 000 for the acquisition
of a site for and the construction and equipment of a City Jail and _
Court Building . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . / /
For an issue of bonds in the amount of $300 , 000 for the acquisition of
sites for and the construction and equipment of buildings for the housing _
of fire fighting apparatus , and the purchase of fire fighting apparatus . . / /
Against an issue of bonds in the amount of $300 , 000 for the acquisition
of sites for and the construction and equipment of buildings for the
housing of fire fighting apparatus , and the purchase of fire fighting
apparatus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7—/
For an issue of bonds in the amount of $ 100 , 000 for the construction
and equipment of an extension to the existing City Hospital ( it being con-
templated that a grant will be obtained from an agency or agencies of
the United States Government to defray a portion of the cost of such
construction and equipment) . . . . . . . . . . . . . . . . . . . . . . . .
Against an issue of bonds in the amount of $ 100 , 000 for the construction
and equipment of an extension to the existing City Hospital ( it being
contemplated that a grant will be obtained from an agency or agencies
of the United States Government to defray a portion of the cost of such
construction and equipment) . . . . . . . . . . . . . . . . . . F7
If bonds for one or more of the above set forth purposes are approved by the
electors , they will be combined into one issue together with refunding bonds in
the amount of $465 , 000 to refund the outstanding bonds of the City' s Refunding
and Improvement Bond Issue dated November 1 , 1959 , which combined issue
of bonds will mature serially on January 1 in each of the years , 1966 to 1993 ,
inclusive . In the event bonds are approved for less than all of said purposes ,
the improvement bonds for the purposes approved and the refunding bonds
will be issued with the same maturity dates but for proportionately less
amounts . The City Council will levy and there will be collected a con-
tinuing annual tax in an amount sufficient to insure the payment of the principal
of and interest on the bonds that are issued . The bonds that are issued will
bear interest at the rate accepted by the City at the public sale of the bonds
J
Ordinance No .-' 1321 - 4 - October 3 , 1962 ,
0
and may be sold with the privilege of conversion to a rate or rates of interest
lower than the rate accepted by the City . The bonds shall be callable for
payment prior to maturity upon the terms specified in the Notice of the public
sale of the bonds .
SECTION 4 . That the election shall be held and conducted and the vote canvassed
and the results declared under the law and in the manner now provided for municipal
election, so far as the same is applicable , and the Mayor of the City of Fayetteville is hereby
authorized and directed to give notice of such election by an advertisement published
weekly once a week for four times in a newspaper published in the City of Fayetteville ,
Arkansas , and having a bona fide circulation therein , the last publication to be not less than
ten days prior to the date of the election , and only qualified voters of the City of Fayetteville ,
Arkansas , shall have the right to vote at said election on said question .
SECTION 5 . That the results of said election shall be proclaimed by the Mayor and
his proclamation shall be published one time in a newspaper published in the City of Fayette -
ville , Arkansas , and having a bona fide circulation therein , which proclamation shall advise
that the results as proclaimed shall be conclusive unless attached in the courts within
thirty days after the date of such proclamation .
SECTION 6 . That the Mayor is authorized to advertise , according to the terms of
Amendment No . 13 to the Constitution of the State of Arkansas , the public sale of the
proposed bond issue .
SECTION 7 . That a copy of this Ordinance shall be given to the Washington County
Board of Election Commissioners so that the necessary election officials and supplies
may be provided .
SECTION 8 . That all Ordinances or parts thereof in conflict herewith are hereby
repealed to the extent of such conflict .
SECTION 9 . That it is hereby ascertained and declared that there is an immediate
and urgent need for a City Jail and Court Building , City Fire Stations and fire fighting
apparatus , and an extension to the existing City Hospital , in order to promote and protect
and health , safety and welfare of the City and its inhabitants and that said improvements
can be accomplished only by the issuance of bonds . It is , therefore , declared that an
emergency exists and this ordinance being necessary for the immediate preservation of the
public peace , health , and safety snall be in force and take effect immediately from and
after its passage .
PASSED October 3 , 1962 .
APPROVED:
GUY E . BROWN, MAYOR
ATTEST :
GEORGET/J. AVIS , CITY CLERK
- STATE of ARKANSAS
• i. .. Cou of W��gtoas � ..
Tq
I, _---------- hereby certify that I
am the (gditer) (manager) THE NORTHWEST
ARKANSAS TIMES, a daily newspaper having a second class mailing pri-
vilege, and being not less than four pages of five columns each, published
at a fixed place of business and at a fixed (daily) intervals continuously in
the City of Fayetteville, County of Washington, Arkansas, for more than
a period of twelve months, circulated and, distributed from an established
place of business to subscribers and readers generally of all classes in the
City & County for a definate price for each copy, or a fixed price per
•� !�� annum, which price was fixed at what is considered the value of the pub-
lication, based upon the news value and service value it contains, that at
least fifty percent of the subscribers thereto have paid cash for their sub-
-: - scriptions to the newspaper or its agents or through recognized news deal-
ers over a period of at least six months; and that the said newspaper pub-
lishers an average of more than fourty percent news matter.
I further certify that the legal notice hereto attached in the matter of
vk .
., was published in the regular daily issue of said newspaper for ----_____
consecutive insertions as follows:
The first insertion on the _Q?----______ day of 19
y
the second insertion on the ___ __________ day of ___________ 19______
the third insertion on the ___------- day of ------------ 19______
F,,. r • and the fourth insertion on the ___ _ ___ day 9
-� �
' - Sworn to aand,� subscribed before me on this _ _____ day of ______
----------1 - --._ 19
Notary Public
My Commission Expires:
1y17�Qgmmio_ or 'za_:_aa tkarth[2�Q,/1�¢��/
Fee for Printing . . . $ ___S�_G•Y___�
Cost of Proof . . . . . $ ------------
Total
_-_ ---___Total . . . . . . . $
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Y � r
ORDINANCE NO. 1721 YEAR
-
AN ORDINANCE SUBMITTING AS14," t
AT THE GENERAL ELECTION 196- 614,000 and equipment of build- SECTION ti. ]'hat the Mayor 1s
I'M% 15.000 ings for the housing of authorized to advertise. according
IN THE CITY OF FAYETTE- 19M 17.0(0 fire fighting appara- to the terms of Amendment No. 13
MLLE ES NOVEMBER 6. 196_ 1969 tus. and the purchase THE QUESTION OF ISSUING 16,000 P to the Constitution of the State e
BONDS FOR THE PURPOSE D- 1971 20,000 of fire fighting Arkansas. the public sale of the
REFUNDING THE HE Cr Y'S 1971 22,000 apparatus . . . . . . . . . . . . . . . . proposed bond issue.
ING BONDS OF THE CITY'6 1972 25,00 ) For an issue of bonds in SECTION 7. That • copy
PY O[ this
GENERAL OBLIGATION AE- 1974 27 � the amount of $100.000 for ordinance shall y given to the
1976 29•O Washington County Board of Elec-
FUNDING AND IMPROVEMENT the construction a n d
BONDS DATED NOVEMBER 1.R 3L000 tion necessary
Commissioners so that the
I AN ACQUIRING A SITE FOR 1976 33,000 toequipment xi ti an extension necessary election officials and
AND CONSTRUCTING AND 1977 pl the existing City tem-
', 1996 34'000 plate (it being contem- supplies may be provided.
EQUIPPING I CITY JAIL AND 1979 35,00(1 plated that a grant will he SECTIONS. That all ordinances
COURT BUILDING, DACQUIR.
CON. 1960 37'� obtained from an agency and parte thereof a conflict heree
ST SITES FOR AND CON- 39.010 with are hereby repealed to the
1961 41000 or agencies of the United extent of such conflict.
BUILDINGS
AND EQUIPPING 1982 States Government to de-
BUILDINGS FOR THE HOUSING 4$000 fray a portion of the coat SECTION 9.n That it to hereby
OF FIRE FIGHTING APPAR F 1963 45,000 ascertained and declared that there
FIR AND THE PURCHASE OF 1964 of such construe_
1gs,1 47� tion and equipment) . . . . 1s an immediate and urgent need
FIRE FIGHTING APPARATUS 1966 52'� Against an issue of bonds for a City Jail and Court Building,
AND CONSTRUCTING AND 1987 52,001 in the amount of $100.000 City Fire Stations and fire to the
EQUIPPING TI EXTENSION lgm8 54,OOa for the construction and apparatus, and an extension to the
TO THE EXISTING CITY HOS- 56,000 existing Cityand Hospital, in order to
SITAL, UNDER THE PROM- 1969 56,000 equipment ti an extension promote a dies protect the health,
1990 59,000 to the existing City Hos- safety and welfare of the City and
T ONS OF AMENDMENT NO. F 1991 SLOW pital (it being contem- its inhabitants, and that said im-
TO THE CONSTITUTION OF 1992 80000 plated that a grant will rovemenin can be accomplished
THE STATE OF ARKANSAS; . be obtained from an agen- p P
PRESCRIBING OTHER MAT-' 1993 65,000 only by the issuance of bonds. It in,
The bonds shall be said at cy or agencies of the
TEAS RELATING THERETO; PUDIic United States Covera- ' therefore, declared that an emer-
aale and shall bear interest at such
AND DECLARING AN EMER- rate or rates as are accepted b the ment to defray a Portion i fency exists and this ordinance be-
GENCY. p y of cos[ of such construe- Ing necessary for the immediate
City at the sale and may be sold reservation of the Public peace,
WHEREAS the City of Fayette- with the privilege of conversion to eq D D
tion and W menti health and safety
villa is a city of the £Int class; and Y shall be in force
WHEREAS the Cit has Obligation
ra issue bearing a lower rate or a bonds for one or more of the and take effect immediately from
Y rates o[ Interest Any conversion stove set Forth purposes passage.
loll n issue o[ General ent Bonds
must be upon such terms that the p t sea are and after its ossa e.
Refunding end Improvement Bonds approved by the electors, they PASSED October 3. 1%2.
City receives no lees and pays no will be combined into one is. APPROVED:
dated November 1. 1959; and more than it would receive and pay
WHEREAS the City Council has sue together with refunding GUY E. BROWN, Mayor
it the bonds were not convened. ATTEST:
' best interests
that it would o 1n the bonds in the amount of 5465,-
The conversion shall be subject to i
beer Intereeta Of the City to acquire the a bo to refund the outstanding GEORGE J. DAVIS,
approval of the City Council, bolds of the Cit g
a site for and construct and equip Ithe City's faecal agent and the Pay t and Issue
(SEAL)Clerk
a City Jail and Court Building00: t at ing Agent for the bonds. The a IS ; and Improvement Hones Issue (SEAL)
an estimated coat of construct
toad 000 0}only
In the Ronde will be IS- : dated November e, 1959. which CERTIFICATE
e t
quire sites for and construct end sued only in the event the Issuance or . combined issue of bonds will The undersigned, City Clerk of
' cgWp buildings for the housing r- of bonds h approved et me in mature serially on January 1 Fayetteville. Arkansan, hereby cer-
fire fighting apparatus, and tot an more of the purposes set, forth In to each of the years event
to bonds
lilbe
ee that the foregoing pages num-
estim fire cost o apparatus. at an Section a of this ordinance. If inclusive. In the event bonds � bered 1 ec 6, inclusive, area true )
estimated cost to the Cityequip
of ex_ bonds area are approved for thea than all 1321 correct copy p Ordinance No.
"en o construct and ui an ex- approved for all of said of said purposes. the improve- passed ata special session
tension to the existing Cit Hos- Purposes, the Improvement Bonds meat bonds for the purposes the City Council of Feyetteville, q
petal at an estimated cos[ t0 the Cit and the Refunding Bonds will approved and the refunding kanaas, held at the regular meet : :
of Y be combined Into a stages issuebonds will be issued with the place of the Council at 1:00 o'clocn
thatt aan a0 lit being contemplated with the maturity deter anndd
that agency of the participate
in the amounts set forth above. In o the same maturity deter but for 1962, n the 3rd day of October,
Government will ngHind eq in the event loofa are approved for lea- proportionately less mounts. record
and that said ordnance is k
tact of constructing and equipping than all of said purposes. the Im- The City Council will levy and NooG 1n es mance Record Rnnk
the said extension): and to refund Prevenient Bonds for the purposes there will ua collected a con- pages 169 :, ,,d tm. ne.said outstanding bonds at an esti- approved and the Refunding Bonds tinuing annual tax in an amount imGtpeoneeaeie'n
mated cost to the City of $465,0110; will be issued with the same ma sufficient to insure the payment this 3rd da
which estimates Include necessary turlty dates but for proportionately of the principal of and interest GEORGE
expenses incidental to the Improve- less amounts, on the bonds that are Issued. (SEAL)
ments, to the refunding and to the SECTION 3. The question shall The bonds that are issued will - n-c
issuance of bonds: be placed on the ballot for the bear interest at the rate ac.
NOW, THEREFORE, BE IT OR- election in substantially the fol- cepted by the City at the pub-
nAINED by the City Council of ', lowing form: lie sale of the bonds and may
he City of Fayetteville, Arkansas: Vote on measure by plac- be sold with the privilege of
SECTION 1. That there be sub- ing an "X" in the square conversion to a rate or rates of
mitted to the electors of the Cityopposite the measure ei. interest lower than the rite sc-
at the general election to be held ther for or against: cepted by the City. The bonds
on November 6, 1962, the question For an issue of bonds in shall be callable for payment
of issuing bonds In the following the amount of $225,001 for prior to maturity upon the terms
amounts an for the following the acquisition of a site specified in the Notice of the
specified purposes, to-wit: for and the construction Public sale of the bonds.
$225.000 for the acquisition of a and equipment of a City ❑ SECTION 4. That the election
site for artd the construction and Jail and Court Building shall be held and conducted and the
equi menf of a City Jail and Against an Issue of bonds vote canvassed and the results de-
CO Building in the amount of $225,000 clared under the law and in the
5300. Air the acquisition of for the acquisition of a manner now provided for muntci-
sites for nd the construction site for and the construe-. pal election, so far as the same is
arld 'eqv ent of buildings for tion and equipment of a applicable, and the Mayor of the
tip hsirysi of fire fighting ap- City Jail and City of Fayetteville is hereby au-
patetee, nd the purchase of Court Building thorized and directed to give no-
fire fight g apparatus " " " " " " tice of such election by an adver-
J�WW00 000 fol the construction and For an issue of bonds In tisement published weekly once a
G*Wpmenj of an extension to the amount of $30x000 week for four times in a newspaper
the existing City Hcapital for the acquisition of sites published in the City of Fayette-
$465.000 for the purpose of re- for and the construction ville. Arkansas and having a bona
'tund1E,g tqe outstanding bonds and equipmeaR of build- fide circulation therein, the last
of the ty'a General Ob11ga- togs for the housing of fere publication to be not less than ten
tion Re[ ding and Improve- fighting apparatus, and days prior to the date of the elec-
ment Bond Issue dated Novetq the purchase of fire tion, and only qualified voters of
.y her 1, 1959. which refunding fighting apparatus L�j the City of Fayetteville, Arkansas
bonds will be issued only in the Against an issue of bonds shall have the right to vote at said
event bona are approved for in the amount of $300,000 election on said question.
one or all of the purposes show for the acquisition of sites SECTION 5. That the results of
,apgpl(; { for =d the e0mt111CUC n said election shall be proclaimed
SECTION 2. That the bonds shalt by the Mayor and his proclamation
beedated as of the tat day of DJ shall be published one time in a
vember, 1962, with interest there- newspaper published in the City of
en to be payable semi-annually on Fayetteville. Arkansas and having
.tatlPary 1, and July 1 of each year a bonsfide circulation therein.
ornmencing July 1, 1963, and the which proclamation shall advise
rends shall mature on January l that the results as proclaimed shall
^f each Bear :a follows but shall he be conclusive unless attacked in the
prior if, n ...- courts within thirty days after the
date of such proclamation.
y +
STATE of ARKANSAS
County of Washington ss.
'- hereby certify that I
am the [ ) (manag r) (chief—nete'Htiant) of THE NORTHWEST
ARKANSAS TIMES, a daily newspaper having a second class mailing pri-
vilege, and being not less than four pages of five columns each, published
at a, fixed place of business and at a fixed (daily) intervals continuously in
the City of Fayetteville, County of Washington, Arkansas, for more than
a period of twelve months, circulated and, distributed from an established
place of business to subscribers and readers generally of all classes in the
City & County for a definate price for each copy, or a fixed priceper
annum, which price was fixed at what is considered the value of the pub-
lication, based upon the news value and service value it contains, that at
least fifty percent of the subscribers thereto have paid cash for their sub-
scriptions to the newspaper or its agents or through recognized news deal-
:t ers over a period of at least six months; and that the said newspaper pub-
lishers an average of more than fourty percent news matter.
I further certify that thelega notice hereto attached in the matter of
_ _ _________________
was published in the regular daily issue of said newspaper for
consecutive insertions as follows: ��jj�� //
The first insertion on the _i _____ day of Ols�____ 191P_Ir_
the second insertion on the 1_ ___ day of
the third insertion on the __!.7__.__`_--- day of -------
and
----__and the fourth insertion on the daly I• __ 1ST Z--- --------- ----------------
Sworn to and subscribed before-me on this �(�_----__ day of ______
-------- 19 & Z
` - Notary Public
My Commission Expires:
r.
pppp My Commisslon Explros Meroh 20, 7888
_________________________c__p__
,. mss
Fee for Printing . . . $
Cost of Proof . . . . . $ ------------
Total
___ ___ _Total . . . . . . . $ I1•.� 2
r';
NOTICE OF ELECTION -
Notice is hereby given that at tht leas amouata
general election to he held in th, The City Council will Je ,y and
City of F:iye'teciile, Arkansas of there will be collected a continuing
November 6, 1962. there will be sub. annual tont in an amount sufficient
matted to the electors of the Cit, to unsure the payment of the prin-
the question of issuing General Ob- clpal of and interest on the bonds
ligation Bonds under the provi- . that an Issued.
sions of Amendment No. 13 to the Only qualified electors of the
Constitution of the State of Arkan- City of Fayetteville will have the
sae, in the following amounts forright to vote In said election on said
the specified purposes, to-wit: questions.
$225,000 for the acquisition of a The election will be held between
site for and the construction and the hours of 9:00 o'clock a.m. and
equipment of a City Jail and 6:30 o'clock p.m. at the following ,
Court Building. polling places in the City of Fay-
83M,000 for the acquisition of etteville. Arkansas:
sites for and the construction Ward 1. City Administration
and equipment of buildings for Building
the housing of fire fighting Ward 2, Washinon School
apparatus, and the purchase of Ward 3, County Court House
fire fighting apparatus I Ward 4, Leverett School
$100.000 for the construction and Given this 3rd day of October, )
equipment of an extension 1962,
at the existing City Hospital GUY E. BROWN, Mayor,
;465,000 for the purpose of re- City of Fayetteville, Arkansas
funding the outstanding bonds 5-12-19-28-c
of the City's General Obligation
Refunding and Improvement
Bond Issue dated November 1,
1959, which refunding bonds
will be issued only in the event
bonds are approved for one or
all of the purposes above speci-
fied.
The bonds shall be dated as of the
lit day of December, 1962, with in-
terest thereon to be payable semi-
annually on January I and July 1
of each year commencing July 1,
1963, and the -banls 'ohall mature
on January 1 of each year as fol-
lows, but shall be callable for pay-
ment prior toMCI on such
terms as the Qrf 'specify in
the Notice of pub a sale of the
bonds:
YEAR -- ;1 ,7woi AMOUNT
1996 $14,000
1997 . %2 r,o . , , 15.OW
1948 17.000
1969 18,000
1970 20,001
1911 22.000
1972 25,000
1973 - • _ 27,000
1974 29,000
1975 31,000
1976 33,000
1977 34,000
1978 35,000
1979 37.000
1910 39,000
1981
Y, £ . 41.000
IN243,000
ISM
1967 45,001
1904 t 47,000
I915 50,000
Y996 92.000
54,010
1998 36,000
ltd9 58,000
191 59,000
1991 61.000
1982 - 63.000
.000
Else upubl
�'ka bonds shall i sold at t such
sate and shall bear interest at such
rate or rates as are acethe
City t may the sale end hea Bold
with. the privilege Of conversion
ersion to
rates
bearing A lrate OO
ratess of of interest. Anyy conversion
must e upon such terms that the
r
City receive no leas and pays no
more than it would receive and pay
if the bonds were not converted.
The Converapproval
shall be subject Coun to
the approval of the City Council,
the City's fort agent and the Pay-
ing f Ref for the bonds. The a is-
suedof Refunding Bonds will be ce
sued only in the event the issuance
of bonds is approved for one or
more of the purposes set forth
shove. If bonds for one se more of
the above set forth elec Durposes are ap.
proved by the electors,is, they will er
combined into one issue together
with the refundinE bonds in the
10.5
amount of $ ,000 to refund the
fu di nding bonds Improvement
the City's Re-
funding and Improvement Bond he
Is-
sue dated November 1. edx9. In the
even[ loofa are approved for less
than iillnt of sold purposes. the l-
proroved bonds ire the purpinds
approved and the refunding Minds
sail) he awned with the same rna-
turity dates but for proportionately