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37 . 0
<br />ATTEST:
<br />CLERK OF THE COUNCIL OF THE
<br />CITY OF CHARLOTTESVILLE
<br />TREASURER OF THE CITY OF CHARLOTTESVILLE
<br />•
<br />(3) THAT THE SAID BONDS SHALL BE SIGNED BY THE MAYOR AND THE TREASURER OF SAID CITY, ATTESTED BY THE
<br />CLERK OF THE COUNCIL, (AND SHALL HAVE THE SAID CORPORATE SEAL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA AFFIXED
<br />THERETO AND THE COUPONS SHALL BE AUTHENTICATED BY THE LITHOGRAPHED FACSIMILE OF THE SIGNATURE OF THE CITY
<br />TREASURER WHICH IS HEREBY DECLARED TO BE IN ALL RESPECTS THE EQUIVALENT TO THE MANUAL SIGNING THEREOF BY SAID
<br />TREASURER.
<br />(4) THAT THE FINANCE COMMITTEE OF THE CITY BE AND IT IS HEREBY AUTHORIZED TO PREPARE SAID BONDS AND TO
<br />PRINT THE APPROVING OPINION OF MESSRS. WOOD, KING, DAWSON & LOGAN, ATTORNEYS AND COUNSELLORS AT LAW, NEW YORK,
<br />N. Y., ON THE BACKS OF SAID BONDS AND DISPOSE OF THE ISSUE AS A WHOLE OR IN INSTALLMENTS, AT PAR OR MORE, ANY
<br />SALE TO BE RATIFIED AND APPROVED BY THE COUNCIL.
<br />(5) THAT THE PROCEEDS OF THIS ENTIRE ISSUE OF SAID BONDS SHALL BE USED EXCLUSIVELY FOR THE CONSTRUCTION
<br />OF A SEWERAGE DISPOSAL PLANT WITH APPURTENANCES ON MOORE'S CREEK NEAR THE RIVANNA RIVER IN ALBEMARLE COUNTY,
<br />VIRGINIA, A SHORT DISTANCE FROM THE CITY LIMITS OF CHARLOTTESVILLE AND THE INSTALLATION OF ADDITIONAL COLLECTING
<br />SEWERAGE LINES FOR THE CITY OF CHARLOTTESVILLE AND THE ENTIRE PROCEEDS OF THE SALE OF SAID BONDS SHALL BE PLACED
<br />TO THE CREDIT OF THE TREASURER OF THE CITY OF CHARLOTTESVILLE, WHO SHALL DISBURSE THE SAME UPON PROPER WARRANTS
<br />FOR THE PURPOSES AFORESAID.
<br />(6) THAT WHILE THE SAID BONDS, OR ANY OF THEM, SHALL REMAIN OUTSTANDING OR UNPAID, THERE SHALL BE LEVIED
<br />AND COLLECTED FROM THE USERS OF THE CITY'S SEWERS A SEWER RATE SUFFICIENT TO PROVIDE FOR THE PAYMENT OF THE
<br />PRINCIPAL AND INTEREST AS THE SAME BECOMES DUE AND PAYABLE AND THAT SAID BONDS WILL BE ISSUED PURSUANT TO THE
<br />PROVISIONS OF SECTION 127
<br />(B)
<br />- FORM OF COUPON -
<br />$
<br />AUTHORIZED INDEBTEDNESS OF
<br />No.
<br />CITY OF CHARLOTTESVILLE, PROVIDED, HOWEVER, THAT FROM AND AFTER A
<br />PERIOD NOT
<br />EXCEEDING FIVE (5) YEARS FROM
<br />THE
<br />CITY OF CHARLOTTESVILLE,
<br />VIRGINIA, WILL PAY ON THE
<br />FIRST DAY OF , 19 , TO
<br />FOR
<br />THE BEARER
<br />HEREOF, AT THE OFFICE OF THE CITY TREASURER
<br />BEING THE SEMI-ANNUAL INSTALL-
<br />AND THE COST OF INSURANCE
<br />MENT OF
<br />INTEREST ON ITS SEWERAGE
<br />IMPROVEMENT BOND, SERIES
<br />OF 1958, DATED MARCH 1ST, 1960, AND NUMBERED
<br />CITY TREASURER
<br />THE
<br />BLANKS IN THE ABOVE FORM
<br />OF BOND AND COUPON SHALL
<br />BE FILLED IN WITH THE RESPECTIVE NUMBERS, DATES AND
<br />AMOUNTS
<br />AS SET FORTH AND PROVIDED
<br />FOR IN PARAGRAPH (1) OF
<br />THIS ORDINANCE.
<br />•
<br />(3) THAT THE SAID BONDS SHALL BE SIGNED BY THE MAYOR AND THE TREASURER OF SAID CITY, ATTESTED BY THE
<br />CLERK OF THE COUNCIL, (AND SHALL HAVE THE SAID CORPORATE SEAL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA AFFIXED
<br />THERETO AND THE COUPONS SHALL BE AUTHENTICATED BY THE LITHOGRAPHED FACSIMILE OF THE SIGNATURE OF THE CITY
<br />TREASURER WHICH IS HEREBY DECLARED TO BE IN ALL RESPECTS THE EQUIVALENT TO THE MANUAL SIGNING THEREOF BY SAID
<br />TREASURER.
<br />(4) THAT THE FINANCE COMMITTEE OF THE CITY BE AND IT IS HEREBY AUTHORIZED TO PREPARE SAID BONDS AND TO
<br />PRINT THE APPROVING OPINION OF MESSRS. WOOD, KING, DAWSON & LOGAN, ATTORNEYS AND COUNSELLORS AT LAW, NEW YORK,
<br />N. Y., ON THE BACKS OF SAID BONDS AND DISPOSE OF THE ISSUE AS A WHOLE OR IN INSTALLMENTS, AT PAR OR MORE, ANY
<br />SALE TO BE RATIFIED AND APPROVED BY THE COUNCIL.
<br />(5) THAT THE PROCEEDS OF THIS ENTIRE ISSUE OF SAID BONDS SHALL BE USED EXCLUSIVELY FOR THE CONSTRUCTION
<br />OF A SEWERAGE DISPOSAL PLANT WITH APPURTENANCES ON MOORE'S CREEK NEAR THE RIVANNA RIVER IN ALBEMARLE COUNTY,
<br />VIRGINIA, A SHORT DISTANCE FROM THE CITY LIMITS OF CHARLOTTESVILLE AND THE INSTALLATION OF ADDITIONAL COLLECTING
<br />SEWERAGE LINES FOR THE CITY OF CHARLOTTESVILLE AND THE ENTIRE PROCEEDS OF THE SALE OF SAID BONDS SHALL BE PLACED
<br />TO THE CREDIT OF THE TREASURER OF THE CITY OF CHARLOTTESVILLE, WHO SHALL DISBURSE THE SAME UPON PROPER WARRANTS
<br />FOR THE PURPOSES AFORESAID.
<br />(6) THAT WHILE THE SAID BONDS, OR ANY OF THEM, SHALL REMAIN OUTSTANDING OR UNPAID, THERE SHALL BE LEVIED
<br />AND COLLECTED FROM THE USERS OF THE CITY'S SEWERS A SEWER RATE SUFFICIENT TO PROVIDE FOR THE PAYMENT OF THE
<br />PRINCIPAL AND INTEREST AS THE SAME BECOMES DUE AND PAYABLE AND THAT SAID BONDS WILL BE ISSUED PURSUANT TO THE
<br />PROVISIONS OF SECTION 127
<br />(B)
<br />OF THE CONSTITUTION OF VIRGINIA AND WILL NOT BE INCLUDED WITHIN THE OTHERWISE,
<br />•
<br />AUTHORIZED INDEBTEDNESS OF
<br />THE
<br />CITY OF CHARLOTTESVILLE, PROVIDED, HOWEVER, THAT FROM AND AFTER A
<br />PERIOD NOT
<br />EXCEEDING FIVE (5) YEARS FROM
<br />MARCH 18, 1958, WHENEVER AND FOR SO LONG AS SUCH UNDERTAKING FAILS
<br />TO PRODUCE
<br />SUFFICIENT REVENUE TO PAY
<br />FOR
<br />COST OF OPERATION AND ADMINISTRATION (INCLUDING INTEREST ON BONDS
<br />ISSUED THEREFOR,
<br />AND THE COST OF INSURANCE
<br />AGAINST
<br />LOSS BY INJURY TO PERSONS OR PROPERTY, AND AN ANNUAL AMOUNT TO
<br />BE COVERED
<br />INTO A SINKING FUND SUFFICIENT TO PAY, AT OR BEFORE MAT+.)RITY, ALL OF THE BONDS ISSUED ON ACCOUNT OF SUCH UNDER-
<br />TAKING, ALL SUCH BONDS OUTSTANDING SHALL BE INCLUDED IN DETERMINING THE.LIMITATION OF THE POWER OF THE CITY OF
<br />CHARLOTTESVILLE TO INCUR INDEBTEDNESS. THE FULL FAITH AND CREDIT OF THE CITY SHALL BE PLEDGED TO SECURE THE
<br />PAYMENT OF THE PRINCIPAL AND INTEREST ON SAID BONDS AND AN AD VALOREM TAX SHALL BE LEVIED ON ALL THE TAXABLE
<br />PROPERTY OF SAID CITY WITHOUT LIMITATION OF RATE OR AMOUNT, FOR THE PAYMENT OF THE PRINCIPAL AND INTEREST
<br />THEREOF, IN THE EVENT THE REVENUE FROM SUCH UNDERTAKING IS INSUFFICIENT THEREFOR.
<br />(7) THIS ORDINANCE SHALL TAKE EFFECT IMMEDIATELY.
<br />/CA
<br />CLERK
<br />ADOPTED BY THE COUNCIL
<br />FEBRUARY 1, 1960
<br />AYES: MR. COLEMAN, MR. DAVIS, MR. MICHIE, •
<br />MR. SCRIBNER AND MR. WEINBERG.
<br />NOES: NONE.
<br />PRESIDENT
<br />n
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