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2. The full faith and credit of ,the City shall be
<br />is irrevocably pledged to the payment: of the principal
<br />inter~s~ on ~he ~,Bonds ;as,"bhe-~s~e ~be~me'.'d~e~', ' ~In, '~ch~
<br />the B'ddds_;~ 6r "any 'of tber~ are- ou~sffa~ndi, ng uand'~unp~id;~
<br />be asse~sed~,:~'evied'affd c'~l'lected, '-upbn"all
<br />City subject.to ~akati~'n
<br />for the ;~nt" of ~th~e prin6~p~t rdf-alnd ~i~teres~ ,d~ ;'~he
<br />the same become due.
<br />
<br /> 3. The proceeds of sale of the BOnds shall be applf
<br />paymen["o~ the costs'6f th~npubtic i~provement'ur~3ec,ts
<br />below in substantially the amounts se,t~ forth opposite
<br />descriptions of the respective projeclts:
<br />
<br />PROJECTS AMOUNT
<br />
<br />Drainage, Curb, Gutters and
<br />Street Impr6vements
<br />Education
<br />Industrial and Economic Development
<br />Parks and Recreation
<br />Public Safe~ ............_. '~ "'~'~'
<br />Municipa~-~Faciliti~s r ~ C6mrhu~k~,~-
<br /> Services
<br />
<br /> .... : ............. -~ .TOTAL,,.i
<br />
<br />provided, that if any such project s
<br />entirev~espect ive'*ambun~ -;'s~t forth ~ ak
<br />applied toSpay the' co~t~of any~othef
<br />
<br /> 4.2In~-ahticipati~n df':khe,issuar
<br />receipt of the proceeds thereof, theI
<br />issued and sold Ten Million Dollars (
<br />principal"amount of gehera'~ ob'ligat~¢
<br />the~'City~'('the*'"Notes")~ '~The ~roceedE
<br />app~'~d fd~ the same purQoses~an~in
<br />as are specified in paragraph':'3-w~th
<br />the proceeds'~of th~ Bonds..~ The,,NOteE
<br />
<br /> $ 150,000
<br /> ~'c~8,g95,519
<br /> 400,000
<br /> 83,571
<br />
<br /> ~,O~Oy9~O
<br />
<br /> ' $t07000t000
<br />
<br /> 11 require less t
<br />ove~,~he,d~ffe~enc(
<br />proj ect,~sods~t fort
<br />
<br />ce-; of: the::Bm~dscan(
<br />e-~te'hereby,~autho]
<br />10,000,000) aggre~
<br />~b6nd--anticipa~io!
<br />df.the;Notes,:sha+[
<br />tSe--s~me,,tespe~t~9(
<br />respect't?.-ihe app]
<br />~ay-.be issued ~u
<br />
<br />entirety at one time; or :i~-'paTt:f~o~-time'-to,{-ime~-~a~
<br />shall mature and be payable within filve years from thei
<br />shall 6e sold at competitive or negotliated sale at not
<br />par plus interest accrued thereon fro~ the date thereof
<br />da%e o~ thedellvery t~e~of,zand-.~&~emt~he~efgr~a~d~,o~
<br />other' %e~msPand conditions as are determine~by~the,~ir(
<br />
<br />F~hah~ ~f ~he City. The
<br />alone or contemporaneous~y'~it~ah, y~(
<br />o~:w~{~ ~y general obligation bonds
<br />pv~p~%~ag~ distributed a preliminaI
<br />Statement relating to any Notes in s~
<br />b~'th~rD~%tor of Finance.
<br />Notes shall be governed by the provis
<br />of Title 15.1, Chapter 5.1, Article
<br />19~'0~ a's'~e~'ded;'and~
<br />Cit~.; EA~h~'N~t~ i~sued"he;~e~nder~sh~
<br />cert'i~'i~-at~
<br />City in the ff'orm
<br />
<br />of the~,C~t~,~er~
<br />~. and a f,i~,l,,~f,fi(
<br />n form as shal~ b~
<br />
<br />ions of Section 15
<br />of the Code of Vi]
<br />~pter-t~of bhe;Co(
<br />lt~be,-.a
<br />
<br /> l~-l~--o~t~erCod~
<br />
<br />City. The provisions of paragraph 2 hereof shall apply
<br />No~es to ~he~xtent, that same a.re~n~tI paid fro~ ~tche
<br />the-'~?nds :or from any"other-avai~l~;fu~d~.- The~sal
<br />N~es and'the form'-and other,-de~ai.tst%he~eoD,~s~a~l be.
<br />rati'f~e~-'~n~'confirm~d~?y~the reso~ion,o~.%h~is>~un
<br />in anti'~ip~tTon of wbi~n~he Notes a~e issued
<br />sold in accordance with this resolution not later ~h~
<br />of the date of the original issue of the first Notes.
<br />
<br />145
<br />
<br />nd hereby
<br />f and
<br />sar while
<br />here shall
<br />~in the
<br />provide
<br />Bonds as
<br />
<br />ed to the
<br />~escribed
<br />
<br />an the
<br />may be
<br />
<br />the
<br />ized to be
<br />ate
<br />notes of
<br />be
<br />amounts
<br />ication of
<br />neir
<br />ny time;
<br />date; and
<br />ess than
<br />to the
<br />such
<br />ctor of
<br />he Notes
<br />tion notes
<br />may be
<br />ial
<br />approved
<br />such
<br />1-227.29
<br />
<br /> of the
<br /> a
<br /> of the
<br />of the
<br />to the
<br /> eds of
<br /> the
<br />
<br /> Bonds
<br />~ed and
<br />ire years
<br />
<br />
<br />
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