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RES 20-042 AUTHORIZING ISSUANCE, AWARDING SALE, PRESCRIBING THE FORM AND DETAILS AND PROVIDING FOR THE PAYMENT OF $3,000,000 GENERAL OBLIGATION STREET RECONSTRUCTION BONDS, SERIES 2020A
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RES 20-042 AUTHORIZING ISSUANCE, AWARDING SALE, PRESCRIBING THE FORM AND DETAILS AND PROVIDING FOR THE PAYMENT OF $3,000,000 GENERAL OBLIGATION STREET RECONSTRUCTION BONDS, SERIES 2020A
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4/29/2020 11:06:00 AM
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in amounts sufficient to produce sums not less than five percent in excess of the principal of and interest on <br />the Bonds when due; that if necessary for payment of such principal and interest, additional ad valorem <br />taxes are required to be levied upon all taxable property in the City, without limitation as to rate or amount; <br />that all proceedings relative to the improvements financed by this Bond have been or will be taken according <br />to law and that the issuance of this Bond, together with all other indebtedness of the City outstanding on <br />the date hereof and on the date of its actual issuance and delivery, does not cause the indebtedness of the <br />City to exceed any constitutional or statutory limitation of indebtedness. <br />This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or <br />benefit under the Resolution until the Certificate of Authentication hereon shall have been executed by the <br />Registrar by manual signature of one of its authorized representatives. <br />4852-6958-9943\5 <br />4 <br />
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