07-25-1979 - Laserfiche WebLink

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Such description shall include the purpose, type, amount, term, and estimated • interest rate:of the obligation, whether or not the faith or credit of the city is to be pledged for the obligation, the. classification by location or otherwise of the taxpayers who are to be taxed or assessed for the obligation, an estimate of the cost of the obligation to representative taxpayers, and to what extent the proposed issue meets or bears relationship to the needs of the city as defined pursuant to Section 7.05 of this Charter. Additionally, the mailing shall include a prominently displayed notice that, over a 10 day period during business hours, a record book will be maintained at the office of the clerk-administrator wherein affected taxpayers, upon presenting identification, may record their signatures as in favor of or adverse to the proposed issue. The record book shall be permanently bound with serially numbered pages, and shall be retained as part of the public records of the city. After the close of the 10 day period for the opinion poll, • the council shall cause a summary of the proposal and the poll results to be dis- tributed to as many residents of the city as is feasible. This distribution shall be made at least 2 weeks before a public hearing is held or a final decision is made by the council on the proposed issue. The provisions of this section shall not apply to the issuance of obligations undertaken under Section 3.06 of the Charter, or to the funding of improvements which have been petitioned for by all of the owners in frontage of the real property abutting on the streets named in the petition as the location of the improvement. Sec. 7.11. Anticipation Certificates. At any time after January 1, the council may issue certificates of indebtedness in anticipation of state and federal aids and the collection of taxes levied the previous year for any fund and not yet collected. • • -6-