HomeMy WebLinkAboutS-47 Sewer Revenue BondAn Ordinance concerning the advance refunding by the City of Carmel, Indiana,
of certain outstanding sewage work revenue bonds; authorizing the issuance of
$2,520,000 Sewage Works Refunding Revenue Bonds of 1985, for such purpose;
providing for the collection, segregation and distribution of the revenues of said
sewage works and the safeguarding of the interests of the owners of said
Sewage Works P~evenue Refunding Bonds of 1985; other matters connected
therewith; and repealing ordinances inconsistent herewith'
WHEREAS, the City. of Carmel, Indiana ("City") has heretofore established,
constructed and financed sewage works pursuant to Chapter 61 of the Acts of the Indiana
General Assembly for the year .1932 (Special Session), and now owns and operates said
sewage works pursuant to I.C. 36-9-23, as amended, and other applicable laws; and
WHEREAS, pursuant to Ordinance No. S-1 adopted on December 9, 1959, the City
now has outstanding revenue bonds payable from the revenues of the sewage works in the
amount of One Hundred Twenty-nine Thousand Dollars ($129,000) bearing interest at a
rate of 4 3/4% per annam and maturing serially on January i in the years 1986 through
1995 inclusive (the "1960 Bonds"); and pursuant to Ordinance No. S-11 approved January
30, 1968, the City now has outstanding revenue Bonds payable from the revenues of the
sewage works in the amount of Two Hundred Three Thonsund Dollars ($203,000) bearing
interest at the rates of 5 1/2% or 5 1/4% per annam, depending upon the maturities, and
maturing serially on January 1 in the years 1986 through 1998 inclusive (the "1968 Bonds");
and pursuant to Ordinance bio. S-22 approved March 26, 1974, the City now has
outstanding revenue bonds payable from the revenues of the sewage works in the amount
of Seven Hundred Eighty Thousand Dollars ($780,000) bearing interest at the rates of 6%,
6 1/4% or 6 3/8% per annam, depending upon the maturities, and maturing serially on
January i in the years t986 through 1998 inclusive (the "1974 Bonds"); and pursuant to
Ordinance No. S-39 adopted on July 22, 1981, the City now has outstanding revenue bonds
FOR DETAILED BUDGET
INFORMATION CONTACT THE CLERK
TREASURER'S OFFICE