HomeMy WebLinkAbout1965-OR-1629ORDINANCE NO. / g fg~ %
An Ordinance Authorizing the Mayor and Clerk-Treasurer
of the City of Jeffersonville, Indiana, to Make Tempo-
rary Loans In Anticipation of Current Revenues.
BE IT ORDAINED BY THE COMMON COUNCIL OF THE CITY OF
JEFFERSONVILLE,
Section 1.
The Mayor and Clerk-Treasurer of the City of Jeffersonville,
Indiana, be, and they are hereby authorized and directed in
the name of said City to make temporary loans in the aggregate
sum of Fifteen Thousand Dollars ($15,000.00), payable .-7~o~y /
/~ in anticipation of current revenues of said City n~
actually levied and in course of 6ollection for the current
fiscal year of 1965, and as evidence of such loans to issue
and sell Fifteen Thousand Dollars ($15,000.00) time warrants
of said City of Jeffersonville of Seventy-Five Hundred Dollars
($7,500.00) each~ plus interest at the rate of three and one,half
per cent (3 1/2%) per annum from the date of sale to maturity,
which interest shall be added to and included in the face of
each of said time warrants. Said time warrants shall be payable
to bearer, designate the nature of the consideration, that they
are payable out of the aforesaid fund, and that they are payable
at the office of said City Clerk-Treasurer, or at the Clark
County State Bank or at the Citizens Trust Company (authorized
depositories of said City) as checks upon such depositories
are payabt&, upon presentation on or after the date of maturity
thereof, and shall be signed in behalf of said City by the Mayor
and City Clerk-Treasurer.
sold for less than
($ ~'~'~ ~ ) each.
Said time warrants
shall not be
dollars
Section 2.
That there be, and is hereby, appropriated and pledged
of the current revenues of the City of Jeffersonville the sum
of Fifteen Thousand Dollars ($15,000.00) plus interest at the
rate of 3 1/2% per annum from the date of the sale of said t~ne
warrants from ~~ ~ /~ , to the payment thereof.
Section 3.
This Ordinance shall be in full force, and effect from and
after its passage and approval.
ATTEST:
CLERK-T~B~JP. ER
PRESENTED BY ME AS Clerk-Treasurer to the Mayor of mid
City of Jeffersonville, this 4th day of January, 1965.
CLER~AS URER
Approved and signed by me this 4th day of January, 1965.