Loading...
HomeMy WebLinkAboutS-41 $1,450M Sewer Revenue Bond , ,. ",. I ORDINANCE $-41 An Ordinance amending Ordinance $-39 entitled "An Ordinance concerning the construction of additions, extensions, and. . i~provements to the sewage works owned and operated by the City 'of Carmel, Indiana, the issuance of additional revenue bonds to provide the ceist thereof, the collection, segregation and distri- butionof the revenues of said works, the safeguarding of the interests of the holders of said bonds, and other matters connected therewith." . WHEREAS; the Common Council of the City of Carmel, Indiana, did on the 22nd day of July, 1981, pass said Ordinance S-39, and WHEREAS, the Common Council of the City of Carmel, Indiana does now find it necessary and desirable to amend. said Ordinance $-39. NOW, THEREFORE, BE IT ORDAINED, by the Common Council of the City of Carmel, Indiana, that Ordinance S-39 be a~ended as follows: Section 3. The City of Carmel shall issue its sewage works revenue bonds in the amount of One Million Four Hundred Fifty Thousand Dollars ($1,450,000.00) for the purposes of procuring funds to be applied on the cost of said works, as defined in said Act. . Said bonds shall be designated "Sewage Works Revenue Bonds ofI981", shall be issued in the demoninationof Five Thousand Dollars($5,000;00);nul11berEid consecutively from 1 upwards, dated as of the first daybf the month in wllic;h said bonds are sold, and shall bear interest at arateor, rates' not. exceeding fifteen andone~half percent (15U} per annum, payable einthe .first days . of January and July in each year, beginning on January 1, 1982. Such 'interest shall be evidenced by coupons attached to said bonds. . Both bonds and interest coupons shaJ Tbe payable in;lawful money of the United 'Sta.tesof America.. . afthe'r i den ty' Bank of Incljana ,or at '. the option'. .ofth~h()l der, aLthe' .' principal office of The Indiana National Bank, intheCjtY of Indiariapoli2' Indiana, and such bonds shall mature 'ser.ia lly in numeriCa 1 order ciiiJanuary, '. 1 in the years and amounts as follows: . . Year Amount Year Amount ,......' 1983 $25,000 1992 . $75 ;000 1984 30,000 1993 '85:,000 1985 30;000 1994 95,000 1986 35,000 1995 105,000 1987 40,000 1996 120..000 1988 45,000 1997 135,000 1989 50,000 1998 155,000 1990 60,000 1999 300,000 1991 65,000 The bonds of this issue maturing on January 1, 1992, and thereafter, shall be. redeemable prior to maturity at the option of the City, in whole Or in part, on July 1, 1991, or any interest payment date thereafter, in inverse ~: "." , . ,I . _.... " order of, maturity and by lot within a maturity, at face value, together with a primium of four percent (4%) if redeemed on July 1, 1991 or thereafter on or before January 1, 1996,and two percent (2%) if redeemed on July 1, 199~or thereafter prior to maturity; plus in each case accured interest to the date fixed for redemption. Notice of such redemption shall be published at least one time in a newspa'per of general circulation in the City of Carmel, Indiana and a newspaper or financial journal of general circulation published in the City of Indianapolis, Indiana, not less than thirty (30) days prior to the date fixed for redemption. If any of the bonds so to be redeemed, are registered, such notice shall be mailed to the address of the registered holder as shown on the registration records'of the City. ' The notice shall specify the date and place of redemption, and the serial numbers of the bonds called for redemption. The place of redemption may be as determined by the City. Interest on the bonds so called for redemption shall ,cease on the redemption date fixed in such notice, if sufficient funds are available at the place of redemption to'pay the redemption price on the date so named, and when said bonds shall be presented for redemption. That all other provisions of Ordinance #5-39 shall remain in full force and effec t. This Ordinance shall bein full force and effect from and after its passage and signing by the Mayor. Passed and adopted by the Common Council of the City of Carmel on the day of September, 1981. / Attest: a 1 ng Officer Dorothy J. H ck, Clerk-Treasurer Presented by me to the Mayor .if the City of Cc;.r,mel, day of September, 1981, at the hour of 1/ePo ~.M. . Uu Dorothy J. Indiana, on the / This Ordinance approved and signed by me on the 1981, at the hour of '7 :2() ~.M. / day of September, ,