HomeMy WebLinkAboutS-41 $1,450M Sewer Revenue Bond
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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
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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
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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.
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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
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This Ordinance approved and signed by me on the
1981, at the hour of '7 :2() ~.M.
/ day of September,
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