1957 ORDINANCES - Laserfiche WebLink

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Here is the provided ordinance text, formatted with **double spacing between each line** and a **hanging indent** as requested. --- AN ORDINANCE AUTHORIZING THE ISSUANCE OF ONE MILLION TWO HUNDRED THOUSAND DOLLARS ($11200,000.00) OF BONDS OF THE CITY OF CHARLOTTESVILLE., TO BE KNOWN AS "SCHOOL MPROVEMENT BONDS, SERIES OF 1957" WHEREAS, THE ISSUANCE OF ONE MILLION TWO HUNDRED THOUSAND DOLLARS ($1,200,000.00) OF SERIAL BONDS OF THE CITY OF CHARLOTTESVILLE, TO BE KNOWN AS "SCHOOL IMPROVEMENT BONDS, SERIES OF 195711, HAS BEEN APPROVED BY AN ORDINANCE ADOPTED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE, El SAID BONDS SHALL BEAR INTEREST AT A RATE OR RATES NOT, HOWEVER, EXCEEDING TWO RATES, AND NOT EXCEEDING FIVE (5) PER CENTUM PER ANNUMI PAYABLE SEMI-ANNUALLY ACCORDING TO THE TENOR OF COUPONS FOR SEMI-ANNUAL 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 THE COUPONS THERETO ATTACHED SHALL BE SUBSTANTIALLY OF THE FOLLOWING FORM AND TENOR: -FORM OF BOND - UNITED STATES OF AMERICA STATE OF VIRGINIA CITY OF CHARLOTTESVILLE SCHOOL IMPROVEMENT BOND - SERIES OF 1957 No. $1,000.00 THE CITY OF CHARLOTTESVILLE PROMISES TO PAY TO - - - - - BEARER - - - - - ONE THOUSAND DOLLARS IN LAWFUL MONEY OF THE UNITED STATES ON THE FIRST DAY OF OCTOBER, 19 , ON THE SURRENDER OF THIS BOND, WITH INTEREST AT THE RATE OF PER CENTUM 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 ($11200,000.00 ISSUED BY THE CITY OF CHARLOTTESVILLE FOR THE PURPOSE OF THE CONSTRUCTION OF ADDITIONS AND IMPROVEMENTS TO SCHOOL BUILDINGS BELONGING TO SAID CITY. 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 MAY 27, 1957, AND SPREAD IN ORDINANCE BOOK 3, PAGES 271-272 AND APPROVED BY THE VOTERS OF THE CITY AT A SPECIAL ELECTION HELD FOR THAT PURPOSE ON JULY 16, 1957; IN ACCORDANCE WITH THE CHARTER OF THE CITY OF CHARLOTTESVILLE AND THE LAWS OF THE STATE OF VIRGINIA, AND THE FULL FAITH AND CREDIT OF THE CITY ARE PLEDGED FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST HEREOF. .