1944 ORDINANCES - Laserfiche WebLink

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1 IN WITNESS WHEREOF the City of Charlottesville has caused its seal to be hereunto affixed, and the Mayor, Clerk of the Council, and Treasurer, have hereunto subscribed their names this first day of February, 1945. ATTEST: Clerk of the Council of the City of Charlottesville No. Mayor of the City of Charlottesville Treasurer of the City of Charlottesville. - FORM OF COUPON - The City of Charlottesville, Virginia, will pay on the 1st day of , 19 , to the bearer hereof, at the office of the City Treasurer Dollars ($ ) being the semi-annual installment of interest on its General Improvement Bond dated February lst, 1945, and numbered 335 City Treasurer The blanks in the above form of bond and coupon shall be filled in with the respective numbers, dates and amounts as set forth and provided for in Paragraph I of this ordinance. III. That the said bonds shall be signed by the Mayor and the Treasurer of said City, attested by the Clerk of the Council, (and shall have the said Corporate Seal of the City of Charlottesville, Virginia, affixed thereto), and the coupons shall be authenticated by the lithographed facsimile of the signature of the City Treasurer which is hereby declared to be in all respects the equivalent to the manual signing thereto by said Treasurer. IV. That the Finance Committee of the City be and it is hereby authorized to prepare and dispose of the issue as a whole or in installments, at par or more, any sale to be ratified and approved by the Council. V. That the proceeds of this entire issue of said bonds shall be used exclusively for improving and increasing the water supply of said City and the entire proceeds of the sale of said Bonds shall be placed to the credit of the Treasurer of the City of Charlottesville who shall disburse the same upon proper warrants for the purposes aforesaid.. VI. It is hereby determined that the earnings of the existing water supply system of the City of Charlottesville which is to be improved and increased with the proceeds of said $500,000.00 Water Improvement Bonds - Series of 1945, are sufficient to pay for cost of operation and administration (including interest on bonds heretofore issued therefor), and the cost of insurance against loss by injury to persons or property, and an annual amount to be covered into a sinking fund sufficient to pay, at or before maturity, all bonds heretofore issued on account of said undertaking, and it is further determined that for a period of five years from December 12, 1944, said $500,000.00 Water Improvement Bonds - Series of 1945, being issued pursuant to the provisions of Section 127(b) of the Constitution of Virginia, shall not be included in determining the limitation of the power of the City of Charlottesville to incur indebtedness.