1955 ORDINANCES - Laserfiche WebLink

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AN ORDINANCE AUTHORIZING THE ISSUANCE OF ONE MILLION TV•.0 HUNDRED THOUSAND DOLLARS ($1,200,000.00) OF BONDS OF THE CITY OF CHARLOTTESVILLE TO BE KNOWN AS "SEV,ERAGE IMPROVEMENT BONDS, SERIES OF 1954" WHEREAS, THE ISSUANCE OF ONE MILLION TWO HUNDRED THOUSAND DOLLARS ($1,2009000.00) OF SERIAL BONDS OF THE CITY OF CHARLOTTESVILLE, TO BE KNOWN AS "SEWERAGE IMPROVEMENT BONDS, SERIES OF 1954" HAS BEEN APPROVED BY AN ORDINANCE ADOPTED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA, ON SEPTEMBER 27, 1954 AND SPREAD IN ORDINANCE BOOK 3, PAGES 213-215, AND ADOPTED BY THE VOTERS OF THE CITY AT AN ELECTION HELD FOR THAT PURPOSE ON NOVEMBER 2, 1954 IN ACCORDANCE WITH THE CHARTER OF THE CITY OF CHARLOTTESVILLE AND THE LAWS OF THE STATE OF VIRGINIA. NOV! THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE: (1) THAT THERE SHALL BE ISSUED ONE MILLION Two HUNDRED THOUSAND DOLLARS (192009000.00) OF SERIAL BONDS OF THE CITY OF CHARLOTTESVILLE, TO BE KNOWN AS "SEWERAGE IMPROVEMENT BONDS, SERIES OF 1954"; THAT SAID BONDS SHALL BE IN" DENOMINATIONS OF ONE THOUSAND DOLLARS (1,000.00) EACH, NUMBERED 1 TO 12009 INCLUSIVE, ALL DATED THE 1ST DAY OF APRIL, 1955 AND MADE PAYABLE TO BEARER SERIALLY AS FOLLOWS: BONDS AGGREGATING SIXTY THOUSAND DOLLARS (60,000.00) SHALL BE PAYABLE ANNUALLY ON THE 1ST DAY OF APRIL, IN EACH YEAR FROM 1956 TO 1975, BOTH INCLUSIVE. ALL OF THE SAID BONDS SHALL BEAR INTEREST AT A RATE OR RATES NOT, HOWEVER, EXCEEDING TWO RATES, AND NOT EXCEEDING FIVE PER CENTUM (5%5) PER ANNUM, PAYABLE SEMI- ANNUALLY ACCORDING TO THE TENOR OF COUPONS FOR SEMI-ANNUAL INTEREST PAYMENTS TO BE THERETO ATTACHED, THE EXACT RATE OR RATES OF INTEREST TO BE DETERMINED BY THE RATE OR RATES NAMED BY THE BID WHICH IS ACCEPTED BY THE FINANCE COMMITTEE AND APPROVED BY THE COUNCIL. (2) THAT SAID BONDS AND COUPONS THERETO ATTACHED SHALL BE SUBSTANTIALLY OF THE FOLLOWING FORM AND TENOR: BEARER - FORM OF BOND - UNITED STATES OF AMERICA STATE OF VIRGINIA CITY OF CHARLOTTESVILLE SEWERAGE IMPROVEMENT BOND - SERIES OF 1954 No. THE CITY OF CHARLOTTESVILLE PROMISES TO PAY TO ONE THOUSAND DOLLARS $1,000.00 IN LAWFUL MONEY OF THE UNITED STATES ON THE FIRST DAY OF , 19 , ON THE SURRENDER OF THIS BOND, WITH INTEREST AT THE RATE OF PER ANNUM, PAYABLE SEMI- ANNUALLY ON THE FIRST DAY OF APRIL AND OCTOBER IN EACH YEAR, ON PRESENTATION OF THE COUPONS HERETO ATTACHED, BOTH PRINCIPAL AND INTEREST TO BE PAYABLE AT THE OFFICE OF THE TREASURER OF THE CITY OF CHARLOTTESVILLE, IN CHARLOTTESVILLE, VIRGINIA. THIS BOND IS ONE OF AN ISSUE OF ONE MILLION TWO HUNDRED THOUSAND DOLLARS (192009000.00)9 ISSUED BY THE CITY OF CHARLOTTESVILLE FOR THE PURPOSE OF CONSTRUCTION OF A SEWERAGE DISPOSAL PLANT ON MEADOW CREEK NEAR THE RIVANNA RIVER IN ALBEMARLE COUNTY, VIRGINIA, A SHORT DISTANCE FROM THE CITY LIMITS OF CHARLOTTESVILLE AND THE INSTALLATION OF ADDITIONAL COLLECTING SEWERAGE LINES WITHIN AND WITHOUT THE CITY OF CHARLOTTESVILLE. THIS BOND IS ISSUED BY THE CITY OF CHARLOTTESVILLE UNDER AND BY VIRTUE OF, AND IN FULL CONFORMITY WITH AND PURSUANT TO AN ORDINANCE OF THE CITY OF CHARLOTTESVILLE ADOPTED SEPTEMBER 27, 1954 AND SPREAD IN ORDINANCE BOOK 3, PAGES 213-215 AND APPROVED BY THE VOTERS OF THE CITY AT AN ELECTION HELD FOR THAT PURPOSE ON NOVEMBER 2, 1954, IN ACCORDANCE WITH THE CHARTER OF THE CITY OF CHARLOTTESVILLE, AND THE LAWS OF THE STATE �_A • • •.